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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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Malaysian conglomerate MMC Corp is relisting its power arm, Malakoff Corp, in an IPO that could fetch over $1bn. The deal sets the stage for a showdown between two jumbo Malaysian listings of energy companies in the first half of 2015. -
Ping An Insurance Group has raised HK$36.8bn ($4.75bn) from a private placement of shares, with the tight pricing on the deal leading to the stock being allotted to the highest quality investors.
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Nirvana Asia opened books for its HK$2.28bn ($294m) IPO on December 2, offering the shares at a level on a par with some of its closest comparables. And despite a busy week for the Hong Kong Stock Exchange, interest among investors for the Malaysian funeral services provider was strong right from the beginning.
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Keppel Telecommunications & Transportation is set to price its S$513m ($393.8m) real estate investment trust at the top end of the price range, with institutional books more than comfortably covered, according to bankers.
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The launch of the Shanghai-Hong Kong Stock Connect has not dampened enthusiasm for the Renminbi Qualified Foreign Institutional Investor (RQFII) scheme among asset managers looking to get access to Chinese markets. UK-based Baring Asset Management is the latest to have picked up an RQFII licence and it is eyeing the scheme as a way of investing in Chinese A shares.
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NewRiver Retail, the UK retail property group, completed an intraday share placing on Wednesday to fund the acquisition of the 90% it does not already own, in a joint venture with LVS Luxembourg, a subsidiary of Pimco’s Bravo fund.
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