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Trade bodies speak out against push to drive equity trading on to lit markets
Shares trade 8% above offer price as shipping company completes second listing
TX Group and SMG absorb almost 60% of block as insurer cuts holding to 11.8%
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Cement maker and importer TCC International Holdings has wrapped up its HK$3.63bn ($468.23m) rights issue in style, with the deal oversubscribed by nearly 16%.
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Red Sena, the Malaysian special purpose acquisition company (Spac), has been given the greenlight by the regulator to list on the local bourse, despite worries that Spacs had fallen out of favour.
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Deutsche Pfandbriefbank, nationalised during the financial crisis, has priced its IPO on Wednesday evening, at the bottom of the range, giving it a market capitalisation of €1.45bn.
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Three block trades took place on Tuesday night, as Europe’s equity capital markets appear to be returning to normality after the stress of the Greek debt negotiations of the past few weeks.
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European investment banks could be set to lose market share, both globally as US volumes outpace Europe, and in their home markets, according to research from Morgan Stanley’s bank equities team.
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An unwelcome slump in deal activity comes just as banks are getting back on the front foot, writes David Rothnie.
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