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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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Dalian Wanda Commercial Properties pulled off one last hurrah for Hong Kong’s IPO’s market this week, raising HK$28.8bn ($3.7bn) in the city’s largest listing in nmore than three years before the market shuts down for Christmas. -
Huaneng Renewables Corp netted HK$1.75bn ($225.22m) via a placement of H-shares to 10 investors on December 16, with the deal going mostly to long only funds and fundamental investors.
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Equity capital markets bankers hoping for a jumbo rights issue to finance British Telecommunications’ acquisition of EE, the UK mobile phone group, may be disappointed. But the deal will certainly create two large overhangs in BT’s stock, worth about £6.3bn at current prices, which could lead to some juicy block trades once lock-ups expire.
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Tessenderlo Chemie, the Belgian chemicals company, has received enough demand from existing and new investors to complete a €174.8m rights issue.
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Wereldhave, the Dutch shopping centres and offices group, on Tuesday completed the €550m rights issue it launched on December 1, as it raises money to finance its acquisition of six shopping centres in France.
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Repsol will aim to issue hybrid bonds to finance an acquisition announced this week, with British Telecommunications widely expected to do the same to help finance its takeover of Everything Everywhere.
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