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Sfr4.9bn trade is largest European ECM deal since National Grid’s £7bn rights issue in 2024
Offer came as markets recovered and volatility fell
Abbott Laboratories plundered $20bn as it led a trio of drug companies which printed jumbo bonds as a deluge of supply in the dollar market ensured a red-hot end to the month.
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Animal healthcare company Huvepharma has opened the books on its €463m IPO on the Amsterdam Stock Exchange.
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Chaoju Eye Care Holdings is gauging investor appetite for a HK$1.81bn ($233m) listing on the Hong Kong Stock Exchange, becoming the latest healthcare related company to seek an IPO.
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Biopharmaceutical company HutchMed (China) pocketed HK$4.17bn ($537.1m) this week from its Hong Kong IPO.
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Analysts said that Argentina’s deal to postpone $2bn of debt owed to the Paris Club was a credit positive, though it was not enough to halt another recent fall in the sovereign’s bond prices as the medium-term likelihood of a default remains high.
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Since Friday last week the European Central Bank has stepped up asset purchases under its Pandemic Emergency Purchase Programme, giving secondary markets in rates products renewed vigour, said traders on Tuesday.
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Zylox-Tonbridge Medical Technology, a China-based medical device maker, is looking to raise up to HK$2.56bn ($329.9m) from a Hong Kong IPO.