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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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Citi has promoted Michael Lavelle, head of EMEA capital markets origination, to head of UK and Ireland Corporate and Investment Banking and vice chairman of EMEA corporate and investment banking. -
Philip Morris International is looking to pare down its stake in Indonesian subsidiary HM Sampoerna, in a deal that could raise some $1.3bn. Five banks have been tapped the run the share sale, which could be the largest in Indonesia since 2013.
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For all China’s talk of cracking down on investors manipulating the market, it seems to have turned a blind eye to the fact that it is one of the biggest culprits when it comes to market interference. The regulator’s frantic move over the weekend to stabilise stock markets looks like panic and has caused more harm than good.
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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 support holding up the trade even as volatility wreaked havoc on equities in Hong Kong and China.
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Golden Throat Holdings Group Company priced its HK$835.3m ($108m) Hong Kong IPO two cents above the lower end of guidance, taking a conservative stance on the deal after being engulfed in a torrid period of volatility in China and the city’s stock markets.
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Hengtao Securities has entered the fray for a Hong Kong IPO, just as China’s domestic stock market endures its worst correction in more than two decades and shares of newly-listed Guolian Securities Co continue to slide for a second straight day.
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