Morgan Stanley
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The IPO of VolkerWessels, the Dutch construction and property development company owned by the Wessels family, achieved coverage on its full deal size by Wednesday morning, two working days into the bookbuild.
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Crystal International Group has filed a listing application with the Hong Kong Stock Exchange for a $600m-$800m IPO. -
VolkerWessels, the Dutch construction company controlled by the Wessels family, has opened the books for its Amsterdam IPO, which could value the business at up to €2bn.
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Pirelli, the Italian tyre maker owned by China National Chemical Corp (ChemChina), is pressing ahead with its plan to relist earlier than expected, due to favourable market dynamics.
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Front and centre in a humming high yield bond market this week was Netflix, the US streaming service, which came to euros for the first time with a €1bn 10 year, dividing some investors on whether it was an attractive deal.
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Shareholders of Sarana Menara Nusantara raised Rph5.4tr ($405.2m) from a re-IPO of the Indonesian company, selling the stock at the bottom of indications.
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Misys has tinkered with the $5.35bn-equivalent loan package backing its acquisition of Canadian competitor D+H, with a banker on the deal saying the basis swap between dollars and euros was especially attractive to the issuer.
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South Korean low-cost carrier Jin Air is looking to raise at least $200m from an IPO in 2017, according to a source close to the deal.
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State Grid Corporation of China on Wednesday snapped up $5bn from a four-trancher — the largest G3 bond so far this year. In addition to size, the issuer also achieved tight pricing, said market participants.
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Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.
