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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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A £285m block in Trainline, the UK the transport booking website, was covered quickly on Thursday night after a lock-up was waived on KKR and other pre-IPO shareholders. -
Mattress maker Zinus is planning to launch its up to W271.9bn ($228.8m) IPO in South Korea in October, according to a source close to the deal.
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Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.
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A pair of shareholders in Chinese clothing manufacturer Shenzhou International has pocketed HK$3.23bn ($412.7m) from selling a chunk of the company’s stock.
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SoftBank, the Japanese technology conglomerate, astonished equity-linked bond market participants this week by executing a deft trade, arranged by Credit Suisse, that recovered all its €900m investment in Wirecard, the controversial German payments processing company, while leaving it with upside. Aidan Gregory and Jon Hay report.
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Saudi Aramco, the state-owned oil company of Saudi Arabia, is confident that its exceptional financial position will allow its IPO to withstand geopolitical shocks such as the drone attack on the company’s oil facilities last Saturday, write Sam Kerr, Mariam Meskin and Francesca Young.
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