UBS

Australian billionaire James Packer has cashed in his remaining stake in his Macau joint venture with Hong Kong gaming tycoon Lawrence Ho, netting $1.2bn in the process.

UBS’s electronic bond trading head Mark Russell, who ran the firm’s Bond Port platform, has left after 19 years, GlobalCapital understands, and is said to be joining Tradeweb, an electronic trading platform.

Bookbuilding for IRB InvIT Fund’s Rp46.5bn ($727.4m) IPO is having a slow start despite the hype surrounding India’s first infrastructure investment trust.

Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.

Nestlé made its second visit of 2017 to the Eurodollar bond market on Tuesday, issuing a $300m five year that it managed to price 19bp tighter than a similar deal in January.

UBS delivered a 24% return on equity in its investment bank for the first quarter — without the aid of the flattering equity attribution model analysts have criticised in the past. The bank revamped equity attribution this year so that corporate centre does less of the heavy lifting, meaning a 26% increase in equity attributed to the investment bank.

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.

SOCAM Development raised $200m from the sale of a new three year bullet on Thursday, the issuer’s debut international bond.

China Southern Power Grid Co (CSG) sold $1.5bn of notes across two tranches on Thursday, opening its transaction a day after State Grid Corporation of China sold a massive $5bn deal that put off some investors.

Saka Energi Indonesia sealed a $625m deal on Wednesday, its debut international issuance, backed by support from its parent.

China Southern Power Grid Co, China Minsheng Banking Corp and Hong Kong-listed SOCAM Development started taking bids for their respective dollars bonds on Thursday at the Asia open.

Shares in Lonza, the Swiss pharmaceutical company, closed 3.8% higher on Wednesday after it launched its Sfr2.25bn rights issue to partly finance its acquisition of Capsugel from KKR, having secured approval from its shareholders at its annual general meeting on Tuesday.