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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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India seeks NMDC divestment – PP Properti picks five for Indo IPO – Yello sends out RFP – HKBN to pre-market $600m listing in February -
Lenovo owner Legend Holdings is looking to list in Hong Kong during the second half of 2015 in a $2bn-$3bn IPO, with its size and diversified business expected to drive investor interest.
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Bain Capital Glory exited Gome Electrical Appliances on January 21 via a HK$1.04bn ($134.16m) overnight block, taking advantage of the last available window to execute the trade before the company goes into a blackout period. The stock was sold close to the bottom of the price range, as the private equity firm opted to keep one long-only account happy and ensure good aftermarket performance, rather than push for a higher price.
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Philippine issuers are leading the way among their southeast Asian counterparts in the block trade market, having already raised more than $600m since the start of 2015. The latest to hit the screens was JG Summit Holdings, which netted Ps8.8bn ($200m) from a top-up placement of shares on January 21.
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Tele Columbus is on the verge of pricing its IPO, the first of the year in Europe. The German cable company’s sale has been a success, and will be priced at €10 a share, the midpoint of the €8 to €12 range, and the top of the revised range.
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Bancassurer FirstRand on Tuesday sold 102m of its shares and 23.8m shares of its affiliate, the insurer MMI, in an oversubscribed accelerated bookbuild.
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