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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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The Hong Kong ECM market is preparing for the largest IPO since 2011 with Dalian Wanda Commercial Properties hitting the road on Wednesday for its jumbo listing of around $5.5bn. Cornerstone investors are already queuing up and many international names are also putting in bids — a clear indication that the deal is not going to be a friends and family affair that is characteristic of many Hong Kong listings.
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Hong Kong-listed food producer Imperial Pacific International Holdings has raised HK$791m ($102m) in a placement as the company readies funds to develop a casino resort.
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Shareholders in JD.com have raised $619m by selling some of their holdings in the Chinese online retailer, in a deal that was increased in size from the launch amount. There was no price sensitivity among investors, who clamoured for stock even as the share price spiked by 9% during bookbuilding.
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Archi Indonesia, the gold mining arm of the Rajawali group, has pulled the plug on its Rph4.6tr ($377.68m) IPO as tumbling gold prices thwarted investors.
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Standard Chartered has promoted to Dave Murray to global head of research following the departure of Walkling. Meanwhile, Stewart Callaghan has been moved to fill Murray’s former position.
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After many days in which bankers have wondered why more sellers were not bringing block trades to what are very strong equities markets, today a burst of deals hit the screens.
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