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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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Alibaba-backed dating app Momo, which has been forced to defend itself against allegations of misconduct levied at its CEO, has priced its $216m Nasdaq IPO in the middle of the range. -
China Tuna Industry Group has withdrawn its application to list on the Hong Kong Stock Exchange in what would have been a $150m IPO following allegations by environmental NGO Greenpeace that its fishing practices were unsustainable.
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Meda, the Swedish pharmaceuticals firm listed in Stockholm, has successfully completed a Skr2.027bn (€214m) rights issue for 10% of its existing share capital. It had a 99.7% take-up rate, with heavy oversubscriptions.
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State-owned Kazakhstan Electricity Grid Operating Co (Kegoc) has received enough demand to complete its initial public offering in Almaty, having initially struggled to generate investor interest in the deal.
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Castle Harbour Securities, a boutique merchant bank and asset manager based in London and Bermuda, has hired Eric Daniel, former head of equity derivatives and convertible bond sales at Citigroup in Paris, to co-manage a new convertible bond fund.
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The Shanghai-Hong Kong Stock Connect, the mutual trading programme that allows investors in Hong Kong and Shanghai to each buy stocks listed in the other market, should consider pushing into new areas once it has bedded down, say experts. In particular, a connection to an existing market link-up between ASEAN countries could offer exciting possibilities.
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