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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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Shenzhen Investment has raised HK$2.77bn ($357m) from a top-up placement of shares sold to investors at a hefty 9.6% discount. But the impact on the company in the aftermarket was pretty severe, with the stock sliding by an equally large 9.85%. -
Red Star Macalline Group Corp, known for its home improvement and furnishings shopping malls in China, has started testing investor appetite for a roughly $1bn Hong Kong IPO, which will simultaneously give investors a taste of a property and consumer story.
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Malaysia’s AirAsia X, the long-haul unit of budget carrier AirAsia, has wrapped up its MR391.1m ($105.3m) three-for-four rights issue with flying colours, as shareholders signed up for far more stock than was available.
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Telecom Italia said on Wednesday that it would seek to price the initial public offering of Infrastrutture Wireless Italiane, its telecom towers unit, in Milan at €3.25 to €3.90 a share, for a valuation of €1.95bn to €2.34bn.
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Emaar Misr for Development, the Egyptian property developer, on Thursday released the price range for its initial public offering in Cairo, which values the firm at the mid-point at about E£17.9bn ($2.35bn).
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Two Japanese companies joined in the active convertible new issue market this week: condominium developer Iida Group and Edion, an electricals and electronics retail chain.
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