17 May 2013
Commerzbank launched its €2.5bn fully-underwritten rights issue to pay back state aid on Tuesday, pricing the deal at a 38% discount to the theoretical ex-rights price of the shares. The stock has lost 32% since the capital increase was announced in March.
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17 May 2013
Partnership Assurance, a specialist life insurer, launched a long-expected IPO of more than £250m on Monday in what is likely to be the first of a run of listings before the summer break.
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17 May 2013
GBL raised €1bn through a sale of shares in GDF Suez on Monday night, with a late start and tight pricing stunting demand but with the shares recovering a bit over the next day.
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17 May 2013
Koninklijke KPN completed its long-awaited €3bn rights issue on Wednesday morning, getting good support from shareholders for the capital increase and strong demand for the €131m rump placing that was completed on the same day.
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17 May 2013
Thomas Cook is to raise £425m through a rights issue and placing, as part of a £1.6bn capital restructuring plan that will reduce the troubled holiday company’s debt. The move sent shares soaring on Thursday.
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17 May 2013
A subsidiary of Singapore’s airport operator raised €175m through a sale of shares in Gemina, which operates Rome’s airport, on Wednesday. The deal allows Worldwide United Singapore (WUS) to exit its stake in Gemina before the latter merges with another Italian firm.
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17 May 2013
International Airlines Group, the holding company for British Airways and Spain’s Iberia, raised €390m through a convertible bond on Tuesday morning, giving high-quality supply to a market that has been starved of issuance over recent months.
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Springland backer reaps $80m from block sale
20 May 2013
Springland International Holdings squeezed in a block deal just before Friday’s public holiday in Hong Kong. The secondary sale was a response to reverse enquiry but was offered at deep discount due to the size of the trade.
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Malaysia’s UMW plans IPO for oil and gas unit
20 May 2013
Malaysian conglomerate UMW Holdings plans to spin out its oil and gas subsidiary in a separate listing later this year.
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GCP, Polar in London fund launches
20 May 2013
The London funds sector is seeing a flurry of IPO activity, with the premium market on Monday welcoming student property real estate investment trust GCP Student Living to its first day of dealings following a £70m offer, and fund manager Polar Capital launching a £100m listing of a closed-ended financials vehicle.
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FirstGroup defends rating with £615m cap hike
20 May 2013
FirstGroup, a London-listed train and bus operator, launched a £615m rights issue on Monday to maintain its investment grade rating. The shares plunged 30% over the day, taking the discount to the theoretical ex-rights price down to 25% from 39% at launch.
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Orkla cleans up Borregaard stake
17 May 2013
BRG Holding, a subsidiary of Norwegian consumer goods company Orkla, raised Nkr387m ($66m) through a sale of its remaining shares in Borregaard on Thursday night. BRG Holding sold most of its Borregaard stake in an IPO October 2012, at Nkr21 a share.
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Strong results bring €112 Coca Cola HBC selldown
17 May 2013
A Coca Cola HBC shareholder raised €112m through a sale of its stake on Thursday night, taking advantage of a strong run in the share price to exit a stake the investor inherited from a previous acquisition.
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PAH leverages founder trust to raise $905m
17 May 2013
Platform Acquisition Holdings completed a cash box placing on Friday, raising $905m.
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Romania completes reduced Petrom sale
17 May 2013
The Romanian state’s privatisation fund sold a L247m ($73m) stake in OMV Petrom on Friday, disposing of 37% fewer shares than originally targeted.
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Coca Cola HBC follows London move with €120m ABB
16 May 2013
A shareholder of Coca Cola HBC is to raise up to €120m from an accelerated bookbuild on Thursday night, following on from a move to a London listing in April and strong results released on Thursday.
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Thomas Cook restructures with £425m equity raise
16 May 2013
Thomas Cook is to raise £425m through a rights issue and placing, as part of a £1.6bn capital restructuring plan that will reduce the troubled holiday company’s debt. The move sent shares soaring on Thursday.
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Eurocastle tops up with €75m placing
16 May 2013
Eurocastle Investment, an Amsterdam-listed closed-ended investment company focused on European property, launched a €72.5m top-up placing on Thursday.
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ICT docks $199m block after upsize
15 May 2013
International Container Terminal Services (ICT) took advantage of its buoyant share price to launch a block sale on Tuesday night, which net the company $199m after opting to upsize the deal in response to strong investor demand.
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Central Pattana closes $367m placement
15 May 2013
Thai retail developer Central Pattana raised $367m from a follow on in a widely expected deal from the issuer.
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Opinion: India's retail refund needs a rethink
15 May 2013
The Indian market regulator has intervened in the normal functioning of markets once too often. Its latest wheeze is nothing short of crazy.
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China Galaxy sets HK$5.3 price; clawback boosts retail to 30%
15 May 2013
China Galaxy Securities is set to raise HK$8.3bn ($1.1bn) from its IPO after setting pricing at the lower end of the range, but with retail demand triggering the clawback, the coordinators were not expected to finalise allocations until late Wednesday.
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Pre-merger sale raises €175m for Gemina shareholder
15 May 2013
A subsidiary of Singapore’s Changi airport operator raised €175m through a sale of shares in Gemina, which operates Rome’s airport, on Wednesday. The deal allows Worldwide United Singapore (WUS) to exit its stake in Gemina before Gemina merges with another Italian firm.
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KPN rump placing wraps up €3bn rights issue
15 May 2013
KPN completed its long-awaited €3bn rights issue on Wednesday morning, getting good support from shareholders for the capital increase and strong demand for the €131m rump placing that was completed on the same day.
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Romania sells €100m Petrom stake
15 May 2013
Fondul Proprietatea, the Romanian government’s privatisation fund, began selling a L440m (€100m) stake in OMV Petrom, the country’s largest company, on Wednesday.
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Commerz shares surge as SoFFin completes €625m sale
15 May 2013
SoFFin raised €625m through a sale of ex-rights Commerzbank shares on Wednesday, clearing the way for the German government financial sector stabilisation fund to participate in the bank’s €2.5bn rights issue.
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CVC gives equity investors credit exposure with €300m LSE float
14 May 2013
, 15:45
CVC Credit Partners, a sub-investment grade credit-focused subsidiary of the international private equity firm, is to list an investment vehicle of more than €300m in London as it attempts to seize on European refinancing needs and banks’ falling ability or willingness to support them.
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Sabadell raises €61m with Meliá ABB
14 May 2013
A Meliá Hotels shareholder raised €61m through a sale of its stake in the Spanish hotel company on Monday night.
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Late start stunts €1bn GDF Suez sale
14 May 2013
GBL raised €1bn through a sale of shares in GDF Suez on Monday night, with a late start and tight pricing stunting demand but with the shares recovering a bit over the next day.
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Asteck raises €520m from Jerónimo Martins sale
14 May 2013
A shareholder in Jerónimo Martins raised €522m through a sale of shares in the Portuguese food distributor on Monday night, drawing emerging market funds to what is a big liquidity event in the strongly performing stock.
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Commerz kicks off €2.5bn rights issue with €625m SoFFin ABB
14 May 2013
Commerzbank launched its €2.5bn fully-underwritten rights issue to pay back state aid on Tuesday, pricing the deal at a 38% discount to the theoretical ex-rights price of the shares — which have lost 32% since the deal was announced in March.
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IAG breaks high quality equity-linked drought with €400m CB
14 May 2013
International Airlines Group, the holding company for British Airways and Spain’s Iberia, raised €390m through a convertible bond on Tuesday morning, giving high-quality supply to a market that has been starved of issuance over recent months.
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Singapore airport operator sells €173m Gemina stake
14 May 2013
A subsidiary of Singapore’s Changi airport is to raise up to €173m through a sale of Gemina, the holding company that operates Rome’s airports, on Tuesday evening through an ABB run by UBS.