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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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Hong Kong Exchanges and Clearing’s (HKEX) surprise £31.6bn takeover bid for the London Stock Exchange Group (LSEG) is being hailed by some ECM bankers as a complementary acquisition that will bring markets in the east and west closer together. But the political fires raging in London and Hong Kong have put the proposal’s success in serious doubt, write Jonathan Breen and Aidan Gregory.
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SMBC Nikko Capital Markets has replaced Bloomberg’s sell-side execution and order management solutions (SSEOMS) platform with the Itiviti order management system.
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JP Morgan this week issued a €400m cash-settled exchangeable on LVMH, the French luxury goods conglomerate, in its latest synthetic outing, raising cheap funding while possibly hedging a derivatives transaction.
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Italy’s stockmarket has rallied since the formation of the new government to the extent that the FTSE MIB index is now into bull market territory this year, outperforming all its peers in Western Europe.
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Thai real estate owner and developer Asset World Corp has hit the market with a Bt41.7bn ($1.36bn) IPO, set to be the country’s largest listing by a private company, according to a term sheet seen by GlobalCapital Asia.
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Hong Kong Exchanges and Clearing has made an unsolicited £32bn bid for the London Stock Exchange Group, a move that could torpedo the LSE’s acquisition of Refinitiv.
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