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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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Tele Columbus today started building the book for its Frankfurt IPO, having set the price range at €8 to €12 a share on Monday. -
Integrated Diagnostics Holdings, an Egyptian company that offers diagnostic services and radiology in Egypt, Jordan and Sudan, began premarketing on Tuesday for a London IPO — the first by an Egyptian company since 2008.
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Poxel, a French pharmaceuticals company that was spun out of Merck Serono in 2009, has filed a document de base for an IPO.
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Santander raised €7.5bn of new equity capital last week — an important deal under any circumstances. But most significantly, the deal was done as an accelerated bookbuild or block trade — something that had never been attempted on this scale outside the US. Equity bankers were impressed — and other issuers will be emboldened by Santander’s example.
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The first major block deal out of Asia ex-Japan this year failed to get off the ground after South Korea’s Hyundai Glovis pulled a $1.25bn share sale due to insufficient demand from investors, despite the trade offering a hefty discount.
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State-owned Electricity Generating Authority of Thailand (Egat) is planning to tap ECM investors in the first quarter by listing an infrastructure fund on the domestic market, in a deal expected to raise around Bt20bn ($608m) to become the biggest IPO since 2013.
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