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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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The Taiwan Stock Exchange Corp (TWSE) took steps this week to repair years of anaemic trading on its stock market. It faces an uphill battle, however, as Taiwanese investors are jumping on the A-share bandwagon, draining liquidity from the country's volume-poor market. -
China Merchants Land has scooped $290m through a convertible bond priced in its favour, as the presence of a standby letter of credit gave comfort to investors. But the extent to which the CBs traded up following the deal suggested that the issuer could have got away with more aggressive terms.
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LIG Nex1, the South Korean weapons manufacturer, has filed its application for a domestic IPO that could raise W400bn-W500bn ($360m-$450m), with the deal slated for the third quarter of this year.
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Asset manager Vanguard is allowing a twelve-month transition for its funds to reflect the FTSE Emerging Markets Index’s new weighting of China’s A-shares, the company told GlobalRMB.
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Dufry, the Swiss duty free shop chain, will on June 11 start building the book for the Sfr2.2bn ($2.4bn) rights issue it signalled in March, as part of the financing for its €3.6bn takeover of World Duty Free.
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The French bank’s debt-focused strategy has brought success and stability. Now it is positioning itself to take advantage of a rising M&A market, writes David Rothnie.
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