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Shipping company issues new shares as it raises stake in peer to roughly a fifth
Investors want more mid-cap deals and wider variety of sectors
Cornerstone investors commit roughly €170m as company aims to raise €300m
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Grand Titan Capital Holdings is shedding some of its stake in Philippine conglomerate GT Capital Holdings in a block trade that could raise as much as Ps10bn ($225m). -
Standard Bank has closed a sale of 60% of its markets business to Industrial and Commercial Bank of China, a deal which the bank will use to further “the group’s growth strategy in South Africa, and across the African continent.”
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Shareholders took to IOI Properties’ MR1.03bn ($289.08m) rights offering, helping the trade achieve an oversubscription of 13.56%.
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Li Ning Company’s HK$1.55bn ($200m) five-for-12 rights offering has wrapped up with a bang, with bids from investors making the transaction approximately 1.49 times covered.
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South Korea’s ECM market is heating up with IPOs slowly but steadily taking shape. Hyundai Innocean started non-deal roadshows for its imminent listing on February 2, while Pulmuone Food has sent out a request for proposals for its own IPO. Meanwhile, funeral services provider Preed Life, part of Hyundai Synthesis Mutual Aid, is targeting a listing in 2017 on the domestic stock exchange.
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India’s HDFC Bank could launch a Rp100bn ($1.62bn) share sale soon to bolster its capital position once it secures all the regulatory approvals.
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