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Placing and open offer follows recent acquisition of US annuity provider
Long-time owners sell 0.5% stake after strong results
Top 20 accounts take 85% of deal
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Hong Kong-listed ESR Cayman pulled off its first convertible bond this week, signalling an increasing flow of deals to come to the Asian equity-linked market. The company took advantage of its surging stock price and a hot reception from investors to raise $350m. Jonathan Breen reports.
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Two of the largest pension insurers in Finland have offloaded €283m of stock in Kojamo, a housing rental company in the country, tapping into yield driven demand for residential property companies during the pandemic.
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IAG, the airline holding company that owns British Airways, has launched its €2.75bn rights issue to help fund it through the coronavirus pandemic. The company does not expect a return to normal operations until 2023, but is hoping its ability to be flexible in offering flights to areas that are recovering more quickly will be enough to persuade investors to take part in the cash call.
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Boutique firm Liberum has picked David Parsons as executive chairman and Bidhi Bhoma as chief executive, as founder Shane Le Prevost, who previously held both those positions, is stepping down.
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SciClone Pharmaceutical (Holdings), a Chinese biopharmaceutical company that claims to have developed a drug to treat Covid-19, is seeking the greenlight to list in Hong Kong.
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Equity capital markets investors had a chance to buy Russian risk again on Tuesday evening, as Otkritie Bank sold a Rb30.4bn ($400m) stake in gold miner Polymetal.
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