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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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Two of the largest shareholders in Fagron, the Belgian pharmaceutical and medical products company, have sold half their stake in the company for €84m via an unusual block trade that was placed with a single US long-only investor.
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Pinewood Studios has launched a new £500m six year non-call two bond offering to fund a dividend, after signing a deal with Disney to lease the studio’s space for the next decade, securing the firm’s income. Seen as a corporate issuer, Pinewood’s leverage looks sky-high, but the bond documentation attempts to rebrand it as a real estate company.
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Topsports International Holdings has kicked off pre-marketing for its Hong Kong SAR listing, which is expected to raise around $1bn, according to sources close to the deal.
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Groupe Bruxelles Lambert, the Belgian investment company, has launched a €750m bond exchangeable into shares in LafargeHolcim, the Swiss building materials company.
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Arié Boleslawski has joined Natixis to run its equities business.
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South Korean energy company SK E&S Co has bagged HK$5.1bn ($650.7m) after selling a block of shares in China Gas Holdings, a source close to the deal told GlobalCapital Asia.
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