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Sale comes after the expiry last month of a pre-emptive acquisition rights agreement between the main family holding companies
Placing and open offer follows recent acquisition of US annuity provider
Long-time owners sell 0.5% stake after strong results
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Capital markets are preparing for a resurgence in Covid-19 cases as infection rates rise in the US and Europe. Bankers and investors are digging in for a longer pandemic than they hoped for and capital raising plans are set for a complete overhaul, report Sam Kerr, Lewis McLellan and Tyler Davies.
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Palmer gets interim ECM head gig at BofA — Clarke to join JP Morgan for FIG — Paz-Galindo promoted at UBS
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James Palmer has been named interim head of equity capital markets for Europe, the Middle East and Africa at Bank of America. He replaces Sam Losada, who is leaving the bank to join Morgan Stanley.
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Electric vehicle manufacturer Li Auto sealed a scorching $1.1bn Nasdaq IPO this week, pricing above the marketed range to make it the largest US listing by a Chinese company in nearly two years. The deal proved there is still interest among mainland firms to list in the US, despite rising hostilities between the two countries, writes Jonathan Breen.
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Independent firms were the big winners of the 2008 financial meltdown. But they will find the Covid-19 crisis tougher to navigate, as they grapple with a unique set of challenges, writes David Rothnie.
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Zalando, the German e-commerce company, issued a debut €1bn dual-tranche convertible bond on Wednesday night, extending a busy week for the European market with more deals on the way.
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