UBS

Predictions that financial institutions would ebb as the mainstay of equity capital markets business after the major post-crisis wave of recapitalisations had been completed have proved premature.

The IPO of Play Communications, Poland’s second largest mobile network operator, is covered at its base size, three working days into the bookbuild.

Shares in Zur Rose, the Swiss online pharmacy, finished 14% above their offer price after their debut on the SIX Swiss Exhange on Thursday, after the Sfr224m IPO attracted bids from more than 275 investors.

China-based Hebei Construction Group is looking to raise between $200m and $300m through a Hong Kong IPO in the second half of the year, said a banker on the trade.

Two firms from China’s new economy sector, which are backed by technology companies Alibaba and Tencent, plan to tap equity investors for over $2bn in their Hong Kong IPOs.

The IPO of Zur Rose, the Swiss online pharmacy, is due to be priced at the top of its range, to raise Sfr224m, after the bookbuild finished a day early due to the strength of the demand.

Footwear maker Khadim India has filed for a listing in the country via two bookrunners, with books expected to open as early as September.

Banco Santander has launched its €7.07bn fully underwritten rights issue to support its acquisition of the failed Banco Popular Español, saying it expects to make a return on investment on the deal of 13% to 14% by 2020.

UBI Banca, the Italian bank, completed its €400m rights issue on Friday June 30, when the tiny rump of 6.7m rights, not subscribed for during the subscription period, were all sold on the stockmarket in the first few minutes they were offered.

A new Zurich IPO began investor education on Monday, of electric meter maker Landis & Gyr, based in Switzerland. “It’s big,” said a banker on the deal, which may come at about $2.25bn to $2.75bn.

China’s ZhongAn Online Property and Casualty Insurance Co has taken a formal step towards listing in Hong Kong, filing a draft prospectus for an IPO that could raise at least $1bn, according to bankers familiar with the matter.

Zur Rose Group, the Swiss-based online pharmacy, told investors this morning that the pricing for its Sfr252m (€231m) IPO was likely to come in the top quarter of the range, thanks to very strong momentum.