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Company ‘made out like bandits’ as investors piled into deal and delta placement
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
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Vietnam seems determined to make its capital markets more appealing to an international audience, with a steady stream of changes to investment rules in recent months. A proposal to merge the Hanoi and Ho Chi Minh Stock Exchanges is another positive move but Vietnam is in danger of undermining its efforts if the newly enlarged body ends up based in Hanoi.
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UFO Moviez has pressed the play button on its Rp6.125bn ($96m) Indian IPO, starting the bookbuilding process on April 28. The deal has already seen some strong names coming in as anchor investors, but volatility in the secondary market is creating a big distraction to investors.
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As negotiators were busy hammering a provisional deal with Iran’s diplomats over its nuclear facilities, in a bold move, Clawback travelled to the Islamic republic — and returned impressed. The country could well be on the cusp of major changes, but also presents interesting similarities (and differences) with China, writes Philippe Espinasse.
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Permanent TSB, the state-owned Irish bank carved out of the Irish Life & Permanent, nationalised in 2011, has begun a new life as a fully listed company, after a highly successful €498m share sale was priced on Monday.
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The IPO of Cellnex, the telecoms towers unit of Spanish infrastructure group Abertis, was covered on the full deal size, throughout the price range, within a few hours of the start of the bookbuild on April 24.
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Deutsche Bank aims to trim the retail side of its business by shedding Postbank, the German institution it acquired in 2010, in an IPO that some market participants view as confirmation that the original purchase was wrong-headed.
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