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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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After a week’s hesitation, Deutsche Pfandbriefbank has gone ahead with its IPO, in a sign of confidence in the market – despite the ever uglier masses of cloud building over Greece and China. If it is completed, the deal will raise over €1bn, and be almost certainly the largest IPO left in the European market before the August lull.
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Hopes remained high on Monday that Chorus Clean Energy would complete its IPO this week, but on Thursday the German solar and wind power plant operator gave up the struggle.
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Block trades made a tentative return to the European equity capital market this week, though bankers had said on Monday that they did not think deals were likely.
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UBS has hired what it said was its first ever global head of equity syndicate, in a bid to fight its way back up the US equity capital markets league table.
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Goldman Sachs said that Karen Cook would become co-chairman of its investment banking division.
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Citi has shaken up its UK management as it tries to address underperformance in Europe’s biggest investment banking market, writes David Rothnie.
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