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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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Billionaire Li Ka-shing is carving out separate property and non-property businesses from his two main holding companies in a landmark reorganisation of his vast empire. -
The Securities and Exchange Board of India (Sebi) is taking steps to speed up equity raisings in the country, proposing ways to cut not just the time it takes to list but also conduct rights issues and other public offerings. The draft proposals come at a time when the Indian ECM market is set for a busy year, with bankers saying the new measures will make life easier not just for issuers but also investors.
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HDFC Bank is moving ahead with plans to raise Rs100bn ($1.58bn) in a bid to improve its capital position, after it picked four banks to lead the share sale.
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The Philippines’ Suntrust Home Developers is looking to raise Ps5.63bn ($251.37m) from a rights issue backed by its parent Megaworld Corp.
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South Korean games publisher Netmarble Games Corp is planning to list three of its subsidiaries on the domestic stock market between this year and next.
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2014 has come and gone, with a fairly honourable tally for Asia’s busy ECM desks. According to Dealogic, last year's ECM volume on Asia ex-Japan exchanges, and excluding China’s A-share markets, was just under $135bn, more than in each of 2013 and 2012. That good news, however, is worth viewing in the context of a few less positive facts, writes Philippe Espinasse.
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