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Existing investors and sector specialists back logistics landlord’s push into tech
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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Hays, the UK recruitment and human resource services company, is in the market with a £200m equity placing to give it enough capital to withstand a halt to much of its business operations because of the spread of the Covid-19 coronavirus. -
India’s equity capital markets were silenced this week as a nationwide lockdown and tumbling share prices kept bankers at home and issuers at bay.
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Convertible bonds are emerging as an important tool that companies will use to recapitalise themselves during the Covid-19 crisis alongside selling new shares, particularly for those with weak credit ratings.
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The high yield bond leg of the rescue package for cruise company Carnival is flying off the shelves in the dollar market, leading the company to increase it from $3bn to $4bn, cut pricing, and drop the planned euro tranche entirely — but the equity capital raising is proving tougher and has been shrunk by $500m.
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Auto Trader, the UK online vehicle marketplace, has become the latest London-listed corporate to raise equity in response to the challenges of the Covid-19 crisis.
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The Pre-Emption Group, an assembly of listed companiesm investors and intermediaries that monitors pre-emption rights in the UK, has changed its guidelines to say that the impacts of the Covid-19 coronavirus means investors should support companies selling new shares worth up to 20% of their market capitalisation without giving existing shareholders first refusal.
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