Morgan Stanley
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Healthcare firms Universal Medical Financial & Technical Advisory Services Co and Harmonicare Medical Holdings priced their IPOs this week, capping the stampede of listings out of Hong Kong as the pre-summer rush nears an end. -
Flow Traders Coöperatief, the Dutch financial trading firm, put out a price range for its IPO on Tuesday morning and opened the books.
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Shares in Sophos traded up on Tuesday to about 234p, cementing a 4% gain since the UK software security firm’s IPO was priced on the morning of Friday last week at 225p a share. According to the London Stock Exchange, it was the largest software IPO in UK history.
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BNP Paribas has made two senior hires in high yield secondary markets, poaching trader Mike Wheeler from Morgan Stanley and salesman Justin Perry from JP Morgan.
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Morgan Stanley is this year heading Dealogic’s table of Latin America bonds by volume, having finished last year in 10th position. At this time last year it was not in the top 10 at all.
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India’s IndusInd Bank raked in Rp43.26bn ($681.85m) from a qualified institutional placement on June 26 that proved extremely popular, as the pipeline of ECM fundraisings feeding into the country’s banks continues to stack up.
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Financial institutions will be forced to pay sky high premiums to print tier two before the summer, as they balance regulatory demands for more loss absorbing capital against an unfriendly primary market, writes Tom Porter.
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Two equity block trades were launched in Europe on Thursday night, despite the ever-dwindling hopes of resolution to Greece’s debt crisis. Remarkably for such a day of political stress, the Euro Stoxx 50 spent part of the day in the green and ended exactly flat.
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Heinz rounded out an impressive debt financing exercise on Wednesday for its merger with Kraft, adding modestly sized euro and sterling bonds to the $10bn seven tranche dollar issue it had done on Tuesday.
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The recruitment drive in insurance DCM ahead of anticipated Solvency II-driven capital issuance continues, with Morgan Stanley hiring a banker from Barclays.
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Hong Kong IPOs took centre stage in Asia ex-Japan ECM this week, as two healthcare-related names went live on June 22 while Legend Holdings and Red Star Macalline Group Corp priced their deals at the top end of expectations.
