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Existing investors and sector specialists back logistics landlord’s push into sector as top 20 take roughly three-quarters of the allocations
Streamlining of IPO process just two months after consultation closed as the market prepares for post-summer IPO activity
Sale comes after the expiry last month of a pre-emptive acquisition rights agreement between the main family holding companies
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LondonMetric Property, the UK real estate development company, has completed a £120m ($149m) capital raising to fund the acquisition of new properties as part of its pivot into urban logistics. -
The economic devastation has made an absolute mockery of predicting corporate earnings and therefore, equity valuation. Companies have given up on providing forward guidance leaving equity investors in the strange position of having to pick stocks without the earnings estimates that they have come to depend upon. Undoubtedly, this makes their work harder but it will also mean they must add to their repertoire of techniques for analysing companies. Many will flounder but a few are bound to shine.
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BNP Paribas blamed European authorities’ restrictions on 2019 dividend payments for losing it €184m in its equities business, when it released its first quarter results on Tuesday. However, in debt capital markets and fixed income, currencies and commodities (FICC) it was a more positive picture, as the bank took advantage of a surge in debt origination and electronic trading.
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Pandora, the Danish jewellery manufacturer, has raised Dkr1.8bn ($176m) through an accelerated placing of 8m treasury shares on Tuesday, to give it funds to withstand the damage to its business caused by the coronavirus pandemic. The company had recently repurchased the shares used in the placing through a buy-back scheme.
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Kingsoft Cloud Holdings is looking to raise $450m from its Nasdaq IPO, finalising the listing terms on Monday.
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Mainland-based Peijia Medical is set to be the third healthcare company to list in Hong Kong since the coronavirus outbreak in late January, opening books on Tuesday for a HK$2.34bn ($302m) IPO.
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