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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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The Government of India has sent out requests for proposals for stake sales in Bharat Heavy Electricals, Indian Oil Corp and National Aluminium Company as part of its attempt to bulk up its reserves and bring down fiscal deficit. With many other names already in the queue, but very little action taken to execute the trades, bankers are increasingly worried that India will fail to meet its divestment target. -
Pacific Andes Resources Development has wrapped up its S$195.5m ($150m) four-for-five rights offering, with the take-up from shareholders only translating to 93.68% of the total rights shares available.
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India’s Aurobindo Pharma has received the go-ahead to raise up to $350m from a qualified institutional placement (QIP) of shares, following an extraordinary general meeting held this week.
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Philippines’ Metropolitan Bank is set to raise up to Ps32bn ($719.38m) in a rights offering to beef up its capital ratios.
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The prospect of a new wave of European equity issues has risen with Thursday’s aggressive package of European Central Bank quantitative easing. The announcement triggered a strong rally in eurozone equity indices, supporting the dozen IPOs already launched in Europe this year.
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KKR, the US private equity firm, surprised the UK equity markets on Thursday morning as it announced its takeover of Trainline.com, the train ticketing website that had a fortnight ago expressed its intention to float in London.
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