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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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Asia’s richest man, Li Ka-shing, has made headlines again. First came the announcement that Cheung Kong Holdings and Cheung Kong Infrastructure (CKI) were acquiring the UK’s Eversholt Rail Group in a multi-billion dollar deal. Then, just hours later, CKI raised HK$4.64bn ($599m) to part-fund the acquisition through a top-up placement, in a deal priced close to the top of guidance thanks to momentum driven by an order from a single global long-only fund. -
FirstRand, the South African bank, today launched an accelerated bookbuild for 102m of its shares and 23.8m shares of its affiliate, the insurer MMI. The blocks are worth about R4.93bn ($424m) and R700m ($60m) respectively.
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Tele Columbus has tightened the price range for its IPO, suggesting that the deal will be priced above the bottom end of the range.
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Mike Ashley, founder of the UK sportswear retailer Sports Direct, on Tuesday sold a block of shares in the company for £110.9m.
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El Corte Inglés, the privately-owned Spanish retail group, has raised €600m from the high yield bond market, in a move that investors believe makes it less likely that the company will follow through on the idea of floating in Madrid.
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China Galaxy Securities has set its sights on raising funds via a private placement of shares, following in the footsteps of other brokers such as Citic Securities and Haitong Securities, both of which announced deals in December. The news of Galaxy’s transaction, which could raise as much as HK$17.7bn ($2.30bn) based on today's share price, comes as the Chinese regulator cracks down on margin lending by brokerage houses.
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