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African mobile payment provider prepares to list, seeking large valuation
Tight supply and prospect of price rises amid AI investment boom fuel bet on earnings growth for silicon wafer producer
Pair of block trades reduces two long term holdings
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India’s Adlabs Entertainment wrapped up its extended IPO this week, raising Rp3.70bn ($59m) by pricing its shares at the bottom of a revised range.
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Korea Deposit Insurance Corp (KDIC) shed some of its shares in Hanwha Life Insurance Co via a block executed on the evening of March 18. Launched to the market with a fixed price, the W133.4bn ($118m) deal focused more on size than on price.
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At least three Chinese brokerages are readying Hong Kong IPOs for the first half of the year, while two more will launch chunky H-share placements soon. The trades should be well received as investors have cash to spare, but the yawning gap in valuations between A and H-shares and a surfeit of offerings from the sector mean that issuers and underwriters will need to relent on pricing, writes John Loh.
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Haitong International Securities Group is gunning for a capital raising of up to HK$9.10bn ($1.17bn) via a one-for-one rights issue, with 65% shareholder, Haitong International Holdings Limited (HTIH), committing to take up its entire rights entitlement to provide early momentum for the trade.
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Shanghai Fosun Pharmaceutical Group has received the go-ahead from the China Securities Regulatory Commission to issue new H-shares, which could raise HK$2.13bn ($274.30m) based on its current share price.
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Bank of America Merrill Lynch and Deutsche Bank are working on allocations tonight on the IPO of Auto Trader, which has been a big success.
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