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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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Firms eager to set up Iran-focussed funds have had to contend with extension after extension of the talks upon which their prospective businesses depend. But as yet another deadline for an agreement on lifting Iran’s sanctions approaches, there are still firms creating fresh investment vehicles.
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Haixia Capital raised HK$6.33bn ($816m) on Tuesday evening by selling all of its stake in Haitong Securities despite a crash in the Hong Kong and China stock markets, preferring to cut its losses and move on rather than wait for an opportune window. -
The stock market of the world’s second largest economy is in crisis. China’s A-shares have suffered their biggest three-week drop in a decade, wiping more than $3tr off the market.
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Singapore has tweaked rules governing real estate investment trusts (Reits), the mainstay of the city-state’s equity capital markets, with the changes prioritising good corporate governance and the interests of unitholders.
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Manulife US Real Estate Investment Trust (Reit) has snatched away hopes of Singapore seeing its first sizeable IPO this year, delaying its plans for a S$569m ($426m) listing amid turbulence in global markets.
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Malaysia’s Sunway Construction Group priced its MR478.44m ($127.60m) listing at the top of expectations on July 6, with strong local interest supporting the trade even as volatility hit equities in Hong Kong and China.
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