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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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Singapore’s MMI, which designs and makes high-precision electromechanical components, has started testing investor appetite for its IPO of around $250m. This will be the second time the company has floated on the city state’s exchange. -
Italy’s Banca Monte dei Paschi di Siena will on Monday launch a long-awaited rights issue to close a capital shortfall identified by European banking regulators last October.
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Equity capital markets in Scandinavia had a busy Thursday evening, with block trades in Swedish rolled aluminium maker Gränges and Norwegian Avance Gas Holding.
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Keppel Infrastructure Trust priced the placement tranche of its S$525m ($397m) fundraising near the low end of guidance on May 21, with the deal getting a more than 2x covered book amid strong institutional interest.
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Hong Kong-listed Shui On Land sold a rare $225m 7.5% convertible perpetual bond on May 21 that met with eager buyers, but it also had some equity-linked bankers scratching their heads because of its unusual structure.
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Baozun Inc’s decision to slice its IPO on Nasdaq to $110m paid off with the stock trading higher on its debut and investors signing up in droves after it relented to a lower offer price.
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