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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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China's Ebang International Holdings, a cryptocurrency mining hardware maker, is planning a US IPO that could raise up to $100m. It follows in the footsteps of Canaan Creative, which listed last November but has since seen its stock price tumble about 53%. -
After years of being in the shade of their high yield colleagues, equity-linked bankers are emerging from the Covid-19 global pandemic as some of the biggest fee earners in the capital markets amid an issuance boom, particularly in the US, as embattled corporates scramble to raise liquidity.
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Dufry, the Swiss duty free concession operator, attracted healthy demand for its emergency sale of new shares and convertible bonds on Thursday night — a transaction designed to raise as much liquidity as possible so it can survive the coronavirus pandemic, which has led to a huge drop in the number of shoppers at its airport stores.
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Chinese software company Kingsoft Corp bagged HK$3.1bn ($399.9m) on Thursday from a five year convertible bond. It was the first equity-linked trade in Hong Kong since the coronavirus outbreak in January.
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Khazanah Nasional's sell-down in Malaysian electricity company, Tenaga Nasional, and Serba Dinamik Holdings' primary share placement both received a big thumbs-up from investors on Thursday, allowing them to boost the deal sizes.
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The coronavirus pandemic has made for a tumultuous time in corporate finance. Banks’ relationships with long-standing clients have come under strain, with lending conditions tightening just as some companies need a sudden injection of cash like never before. Bank of America’s dealings with FTSE 100 publishing and events company, Informa, provide one example of the difficult decisions facing lenders.
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