Morgan Stanley
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Yancoal Australia has passed a listing hearing with the Hong Kong Stock Exchange and is preparing for the launch of its IPO this month. -
The first two major IPOs of the autumn, Funding Circle and SIG Combibloc, have both stayed above water in trading.
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US healthcare company Abbott Laboratories debuted in the European corporate bond market on Monday, selling a €3.42bn triple-tranche deal. The proceeds of the jumbo deal were to repay the issuer’s outstanding deals in dollars.
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Corporate dollar bond issuance ended a bumper month with a whimper as borrowers fought shy either side of the Fed’s September meeting.
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German publishing company Bertelsmann returned to the euro corporate bond market on Tuesday to re-market a deal it had pulled in May after setting the spread. This time the issuer priced the transaction at what was seen as a more realistic spread, but the high premium was in part due to the illiquidity of the secondary curve.
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A sale of shares Basic Fit by 3i was greeted warmly by investors on Wednesday night, but fell in trading on Thursday.
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Embassy Office Parks Reit filed for India’s first property trust this week, pushing ahead with an IPO that has been in the works for years. The joint venture of Blackstone and its local partner will be hoping to exorcise the ghosts of infrastructure investment trusts (InvIt) past, with the pressure on for a successful outcome. John Loh reports.
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This evening, 3i is selling another chunk of its stake in Basic Fit, the Dutch operator of affordable gyms, via an accelerated bookbuild led Morgan Stanley and ABN Amro.
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German publishing company Bertelsmann returned to the euro corporate bond market on Tuesday to remarket a deal it had pulled in May after setting the spread. This time the issuer priced the transaction, but it had to pay a much larger new issue premium than others have done on recent deals.
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Shandong Gold Mining has raised HK$4.8bn ($616.8m) after sealing its IPO at the bottom of price guidance, according to a senior banker on the deal.
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Two Samsung-linked units raised W927bn ($829m) from a sell-down in Samsung C&T Corp on Thursday, capping a flurry of overnight block trades from South Korea this week.
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Nestle, Électrcité de France and BP have led a stampede to the dollar market ahead of an expected rate hike by the Federal Reserve next week, as credit markets shrugged off trade wars between the US and China.
