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German open-source software company Suse has announced its intention to float on the Frankfurt Stock Exchange, joining the lengthy queue of European companies seeking to go public.
By Aidan Gregory 11.45 AM Basic Fit, the Dutch low-cost gyms operator, has sold €204m of new shares to finance growth opportunities once its sites are permitted to reopen. The share sale consisted of up to 6m new shares, a 10% capital increase. The books were covered just 15 minutes after launch, according to a source close to the transaction. At the €34 final offer price, investors received a 3.7% discount to the closing price of Basic ... Already a subscriber? Login
By Aidan Gregory 22 Apr 2021 Credit Suisse has placed Sfr1.7bn ($1.9bn) of mandatory convertible bonds to repair its balance sheet, following steep trading losses caused by the bankruptcies of Archegos Capital and Greensill Capital. But some predict the bank may need to return for more equity down the line. In a regulatory filing on Thursday, Credit Suisse said the issuance of mandatory convertible bonds, which automatically convert into equity, would boost its common equity tier one ratio, a key measure of a bank’s capital strength, from 12.2% currently to more than 13%.The bank’s levera...
By Aidan Gregory 22 Apr 2021 With little end in sight to the worst crisis that the airline industry has faced since 9/11, Europe’s stricken carriers risk becoming like the continent’s banks after the financial crisis, when they went through round after round of equity capital raising to shore up their strained balance sheets. Airline stocks around the world have rallied this year on the expectation of a gradual lifting of the travel restrictions imposed to contain the spread of Covid-19.It may soon be easier for many European citizens to travel again as restrictions are lifted and the rol...
By Aidan Gregory 10.00 AM The IPO of PolyPeptide, the Swiss pharmaceutical ingredients company, was covered on the first morning of bookbuilding on Wednesday, according to sources close to the deal. PolyPeptide has set the price range at Sfr57 to Sfr68, implying an initial market capitalisation of Sfr1.91bn to Sfr2.24bn (€1.73bn to €2bn) – in line with expectations during pre-deal investor education. That valuation places PolyPeptide at a discount to Bachem Group and a slight premium to Lonza, ... Already a subscriber? Login