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Placement 3.7 times subscribed, weeks after regulator halted unauthorised marketing of a purported public offer
Markus Meier and Thore Zimmermann promoted
IPO pipeline strong, but timetables slipping as markets await clarity on tax, growth and defence funding
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The family of Heinz-Herman Thiele, the late German billionaire industrialist, sold over half their stake in Deutsche Lufthansa, the German flag carrier, via an accelerated bookbuild on Thursday night. -
The Indian government has raised Rp40bn ($547.4m) from a sell-down of its stake in Axis Bank.
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Singapore real estate investment trust Mapletree Industrial Trust has raised S$823.3m ($618.3m) from a sale of new units to fund data centre acquisitions, with the deal receiving a warm welcome from investors despite not being very well flagged.
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The explosion of special purpose acquisition companies (Spacs) may have drawn widespread criticism as evidence of an over-heating equity market but in turn the CLO market has benefited. Spacs have pumped equity into a number of highly leveraged companies, enabling lenders to get their money back. This has allowed CLO managers to enjoy a boost in credit quality, writes Paola Aurisicchio.
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Citi has picked global head of trade Ebru Pakcan to be its new head of EMEA emerging market coverage.
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Trading volatility in US tech stocks is filtering through to European IPOs, making it difficult or even impossible for banks to price new listings. Sources said sellers should hold back as investors reel from the heightened market turbulence.
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