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Investors want more mid-cap deals and wider variety of sectors
Cornerstone investors commit roughly €170m as company aims to raise €300m
African mobile payment provider prepares to list, seeking large valuation
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India’s GMR Infrastructure, which at the end of last year sought approval from the country’s regulator to raise new equity, has now firmed up terms for its three-for-14 rights offering, which will see it raise a chunky Rp14.02bn ($227m). -
Pakistan’s latest draft law on real estate investment trusts (Reits) is worrying industry participants, many of whom are calling the requirement for a perpetual lock-up of a Reit manager's stake inflexible and illogical. But the regulator is right to impose tough rules. Issuers and investors will gain from a market that has its eye on the long term.
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There seems to be no end in sight for the Asian ECM bout of depression. Above all, it’s been a pretty miserable year so far for IPOs, in sharp contrast to new listings activity in other parts of the world. The reasons put forward by market observers to explain the dearth of offerings are several, but in the main remain unconvincing, writes Philippe Espinasse.
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Three chunky equity block trades were launched this evening – in Safran, Merlin Entertainments and Veolia – after all three companies’ shares had hit 52 week highs today.
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NNIT, the Danish software firm seeking to list in Copenhagen, priced its heavily oversubscribed IPO at Dkr125 a share on Friday morning, after raising the price range, and it soared on its debut.
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Four managing directors have lost their jobs at Sberbank CIB. The bank chopped nearly half of its London front office team just over a week ago.
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