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Reforms have increased liquidity in private shares and eased flotations, but PE sponsors warn there is still a lack of domestic capital willing to buy IPOs
Bankers welcome third and fourth deal in two weeks
Shareholders sell down holdings in AutoStore and Orsted, as shipping company opens books ahead of Athens parallel listing
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Nyrstar, the Belgian zinc producer, has successfully completed the sale of all the new shares on offer in its rights issue, after selling the rump of the deal in an accelerated bookbuild on Wednesday.
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The merger between capital financing and banking is a logical staging post in the transformation of HSBC’s investment banking aspirations, writes David Rothnie
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Grand City Properties issued its fourth convertible bond on Wednesday, raising €450m, more than the other three deals put together. The German housing company capitalised on the successful performance of its earlier deals to win €2.5bn of demand and strong terms.
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Delta Lloyd, the Dutch insurance company, bowed to investor pressure and cut the size of its planned rights issue by a third on Wednesday, to €650m.
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Apax made on Tuesday night its first selldown of stock in Auto Trader, the UK car sales website, since floating the business last March. As had been expected after the IPO was increased, Apax was able to sell virtually its whole remaining stake in one go.
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TradeStation Group has sold the accounts of its IBFX/TradeStation Forex subsidiary to OANDA as IBFX looks to exit the forex dealer business.
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