Morgan Stanley

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, started trading today (Friday), after having priced its initial public offering at the midpoint of its original price range.

South Korean game developer Nexon has sold all of its shares in rival company NCSOFT Corp for W605.1bn ($536m), ending a three-year relationship that failed to create any “significant synergies” between the companies.

Garfunkelux, the German debt collection company, on Thursday issued £795m of notes in the first sizeable European high yield issue for three weeks. Market participants are now eager to see if other issuers finally follow in its steps.

Bank of Ireland and Caja Rural Unidas issued this week’s only two covered bonds from Europe’s periphery, both offering attractive concessions.

The fourth quarter yielded its first great equity capital markets success this week, as Worldpay, the UK payments processer, completed the largest listing in London since Glencore’s in 2011. Olivier Holmey reports.

Bravida, the Swedish electrical, heating, plumbing and ventilation systems installer, closed the institutional book for its IPO at noon on Thursday, and was doing allocations on Thursday afternoon. Pricing is expected to come on Friday morning.

Intertrust, the Dutch corporate and trust services company, made its debut on the Amsterdam stock exchange today (Thursday) after pricing its €486m IPO near the bottom of the range on Wednesday.

Development Bank of Japan sold over half of its second sustainability bond to SRI investors on Wednesday and will continue to monitor the market for future green opportunities, say bankers.

Mitsubishi UFJ Lease & Finance has priced its second dollar bond of the year, with its safe haven status attracting a strong following despite a sovereign rating downgrade.

Coffee Day Enterprises opened books for its Rp11.94bn ($183m) IPO on Wednesday, after putting roughly a quarter of the trade in the hands of anchor investors. But the caution of the leads appears clear, with the stock allocated to anchors at the middle of guidance.

Development Bank of Japan has made its second visit to the SRI bond market with a €300m sustainability bond on Wednesday.

Intertrust, the Dutch corporate and trust services company, has closed the book for its IPO, which is set to raise at least €522m.