Page 5 - Jonathan Breen News Today : Breaking News, Live Updates & Top Stories | Vimarsana

By Jonathan Breen 07.00 AM AC Energy Corp, a Philippine renewable power producer, has kicked off a follow-on offering of primary and secondary stock, eyeing up to Ps12.4bn ($256.4m). The issuer – the energy business of Philippine conglomerate Ayala Corp – is selling 1.9bn shares. It opened the deal on Tuesday with an initial price range of Ps6.00 to Ps8.20 apiece.Strong early demand from global blue-chip long-only investors covered the book by late morning on that ... Already a subscriber? Login

By Jonathan Breen 07.15 AM Top Glove Corp, the world’s largest manufacturer of rubber gloves, has revised its planned Hong Kong listing down to a size of HK$6.9bn ($889m). The Kuala Lumpur-listed issuer was initially aiming to raise HK$14.95bn from a secondary listing of 1.3bn new shares on the HKEX.But the company announced on Thursday that it has cut the offer size to 690m primary shares, equal to 7.94% of its enlarged equity capital. It has ... Already a subscriber? Login

By Jonathan Breen 10.15 AM Meituan, a Chinese food delivery company, raised $10bn this week from a combined equity placement and convertible bond issue. Investors flocked to the deal for the investment grade rating and the offer of a highly liquid and volatile stock. Jonathan Breen reports. The overnight sale of primary shares and a dual-tranche convertible bond allowedMeituan to raise money it needs to invest in new technologies, including autonomous and drone delivery vehicles. But bankers are looking for their next deals — seeing Meituan’s success as proof o...

By Jonathan Breen 09.00 AM Chinese financial technology platform Futu Holdings has raised $1.24bn from a follow-on offering of its American depository shares (ADS). The issuer was able to navigate volatile markets thanks to support from a large global fund. Bookrunners Bank of America and Haitong International priced the ADS sale on Wednesday morning in Hong Kong, with Futu settling at $130 a share, said a source close to the deal. The Nasdaq-listed company sold 9.5m ADS in the follow-on; each represents eight of its class A ordinary ... Already a subs...

By Jonathan Breen 08.00 AM Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business. The issuer, one of China’s leading internet companies, came to the market in need of cash to invest in new delivery technologies. It pocketed HK$51.2bn ($6.6bn) from a placement of new shares and sold a $2.9bn dual-tranche CB to capitalise on enticing terms available in the equity-linked market. ... Already a subscriber? ...