India: Air carrier IndiGo’s $482m initial public offering subscribed fully on Day 2

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The Rs.3,130 crore ($482 million) initial public offering (IPO) of InterGlobe Aviation Ltd, owner of India’s largest and most profitable airline IndiGo, was subscribed fully on Wednesday, the second day of share sale. The largest share sale in the country since 2012 values InterGlobe at around $4 billion. Analysts are… Read more »

Malaysia: Institutional offering oversubscribed 3x in KTC’s IPO

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Consumer packaged goods distribution group Kim Teck Cheong Consolidated Berhad (KTC), en route to listing on the ACE Market of Bursa Malaysia, has received overwhelming response for its institutional portion offered in its initial public offering (IPO). Although the group did not reveal the subscribers to that portion of offer… Read more »


India: IndiGo parent InterGlobe Aviation’s IPO subscribed 87% on day 1

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The much anticipated Rs.3,130 crore initial public offering (IPO) of InterGlobe Aviation Ltd, owner of India’s largest and most profitable airline, IndiGo, was subscribed 87% on Tuesday. An analyst saw the response as an indication of faith in the Indian aviation story, although it probably has more to do with… Read more »


India: Essar Ports fixes $1.4 per share as floor price for delisting

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Promoters of Essar Ports Ltd have fixed Rs.93.66 as the floor price per share for acquiring 10.72 crore equity shares from public shareholders. At this floor price, promoters will have to shell out Rs.1,004 crore to buy out 25.06% in share capital from the public as a part of the… Read more »


Vodafone planning IPO that could be biggest-ever in India’s private sector

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Vodafone Group Plc is planning talks with banks interested in advising for its initial public offering, which might happen in the first quarter of 2016. The Newbury, England-based company, the world’s second largest mobile phone operator, may sell 10 per cent of the India unit through the offering. If it… Read more »


India: Blackstone-backed fragrance and flavour company SH Kelkar raises $23m ahead of IPO

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Fragrance and flavour company SH Kelkar and Co Ltd has raised Rs 152.45 crore ($23.4 million) from anchor investors before opening its public issue. It issued shares to various domestic mutual funds and foreign institutional investors. SH Kelkar, that is backed by global PE firm Blackstone-backed company will open its… Read more »


HSBC shifts derivatives trades to Hong Kong ahead of potential relocation of HQ

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HSBC has begun shifting billions of dollars worth of derivatives trades from London to Hong Kong to take advantage of the city’s favourable funding and regulatory environment, and to help position itself for a potential relocation of its headquarters, sources with direct knowledge of the bank’s trading arrangements told Reuters…. Read more »


Thailand’s Banpu Power expects to raise $600m via IPO

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Thailand’s leading coal miner Banpu Pcl is to issue 648.5 million new shares in its subsidiary Banpu Power as a part of a plan to spin off the power business and list it on the Thai bourse next year. The new shares will account for 35 per cent of total…. Read more »


Malaysia: ValueCap’s $4.7b injection not govt money, nor govt-guaranteed

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The MYR20 billion ($4.69 billion) to be pumped into state equity investment firm ValueCap Sdn Bhd will not come from the government’s coffers nor have a government guarantee, Minister in the Prime Minister’s Department Abdul Wahid Omar reiterated. Omar explained that the MYR20 billion would be sourced from ValueCap’s three… Read more »


Indonesia’s Trikomsel warns it will likely default on Singapore-issued bonds

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Indonesian mobile phone retailer PT Trikomsel Oke Tbk (TRIO), partly owned by Singapore-listed Polaris and Japan’s SoftBank Group, has notified its bondholders that it will not be able to pay interest on two Singapore dollar bonds that are due in November and December, due to the company’s financial difficulties as a result of… Read more »