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UK public equity markets are easier to use after recent reforms, but now comes the hard task of stimulating activity
Underwriting left unused after deal is 33% oversubscribed
Shareholder-backed recapitalisation will help reduce debt and prepare assets for sale or listing
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The IPO of Verallia, the French maker of bottles and jars, is covered at its full size. Sources close to the deal are pleased with the calibre of investors in the book. -
Globalworth Real Estate Investments, the London-listed real estate investment trust focused on commercial properties in Romania and Poland, is preparing to raise up to €276.45m of fresh equity to finance its bulging pipeline of acquisitions.
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Delta, the US airline, announced last week that it had struck a deal with LATAM, the largest airline in Latin America, in a deal which it expects to finance in the bond market.
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Ferretti, the manufacturer of luxury Italian yachts, has opened the books on its IPO with the sellers setting a wide range, meaning public market investors will likely get a discount to where its shareholders Weichai Group and Piero Ferrari valued it in September.
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The UK’s Financial Conduct Authority is looking at shaking up how UCITS funds manage liquidity, following the high profile pressures at Woodford. Under proposals being explored, bond and equities funds might face stress testing, and the definition of an illiquid asset could change.
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JS Global Lifestyle Co, a Hong Kong-based maker of small household appliances, has passed the final stage of its pre-IPO process, winning approval to list from the Hong Kong Stock Exchange.
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