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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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Equity capital markets bankers have a juicy new prize to compete for: the UK government is to privatise the remaining 30% it holds of Royal Mail by the end of this year.
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The stunning rise of the A-share market in China is encouraging US-listed Chinese companies to go private, with the aim of seeking better valuations with a subsequent Asian IPO. The Chinese and Hong Kong exchanges are the most likely destinations, writes Rashmi Kumar. -
Just three months after paring down its ownership in Indian automobile manufacturer Eicher Motors, Swedish truck maker Volvo Group has exited via a Rp17.2bn ($268m) deal that proved popular but was severely hit by slippage.
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Korea Development Bank shed its entire stake in Kumho Petrochemical through a W323.9bn ($293m) block on June 3, which was priced at the lower end of guidance as investors showed a high degree of sensitivity.
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Alibaba Pictures Group, the Hong Kong-listed unit of Alibaba Group, has raised HK$12.18bn ($1.57bn) from a private placement of shares, joining the flurry of companies raising fresh equity as markets remain on a high.
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Hong Kong-listed Kingsoft Corp fetched HK$2.74bn ($353.43m) from an accelerated share sale on the evening of June 3, with the trade enjoying a brisk response courtesy of its Tencent and Xiaomi parentage.
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