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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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The Italian state sold a 5.74% stake in power company Enel through a €2.2bn block trade over Wednesday night. It was very punchily underwritten and the leads were left long - but said they were happy. -
Equity block trade bankers’ hearts may have leapt on reading Wednesday’s headline that AP Møller-Mærsk was planning to sell its 20.05% stake in Danske Bank, worth about €4.8bn at today’s share price.
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The Italian state sold a 5.74% stake in power company Enel through a €2.2bn block trade over Wednesday night. It was very punchily underwritten and the leads were left long, but said they were happy.
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OVS, the Italian clothing retailer, on Wednesday night priced and allocated its €414m Milan IPO, after a slight delay, giving it a valuation of about €931m.
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India’s Bharti Airtel has raked in Rp19.25bn ($310m) by selling shares in subsidiary Bharti Infratel through an overnight block on February 25. Priced at the bottom of the range, the transaction saw strong interest from European and US investors, thanks to the company’s sector of operation, and also because a private placement executed just a day earlier had helped provide momentum for the trade.
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Singapore’s 2015 budget surprised many market participants this week when it was revealed that the 3% stamp duty remission enjoyed by the country’s real estate investment trusts will not be extended. While S-Reits will have to make do with higher costs, this is a smart move by the authorities. It will encourage the asset class to grow beyond the borders of the city state.
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