IFR International - 21.07.2018

(Martin Jones) #1

!NYûREMAININGûPROCEEDSûWILLûBEûUSEDûFORû
FUTUREûACQUISITIONS
Mizuho Securities, Morgan Stanley and SMBC
NikkoûAREûJOINTûGLOBALûCOORDINATORS ûJOINTû
BOOKRUNNERSûANDûLEADûMANAGERSûWITHû
Citigroup and Nomura in the international
OFFERING


SINGAPORE


JADESTONE PLANS ADDITIONAL LISTING
IN LONDON


3INGAPORE
BASEDûANDû4ORONTO
LISTEDûOILûANDû
GASûlRMûJADESTONE ENERGYûISûSEEKINGûAûLISTINGû
ONû!)-ûINû!UGUST ûALONGSIDEûAû53Mû
PLACINGû4HEûMOVEûFOLLOWSûTHEûACQUISITIONûOFû
-ONTARAûOILûPROJECTûFROMû044û%XPLORATIONû
ANDû0RODUCTIONûFORû53MûStifel Nicolaus
Europe and BMO Capital Markets AREûJOINTû
BOOKRUNNERS


EUROPE/MIDDLE


EAST/AFRICA


FRANCE


NAVYA IPO STILL CHARGING UP

"ANKERSûWORKINGûONûTHEûõMû%URONEXTû
0ARISû)0/ûOFûAUTOMATEDûELECTRICûVEHICLESû
COMPANYûNAVYAûHAVEûEXTENDEDûTHEû
BOOKBUILDûAFTERûATTRACTINGûINSUFlCIENTû
demand by the scheduled close on
4HURSDAY
2ETAILûWASûGIVENûANûEXTRAûDAYûTOûPLACEû
ORDERS ûUPûUNTILûTHEûMARKETûCLOSEûONû&RIDAY û
ANDûBOOKSûCLOSEûFORûINSTITUTIONSûONû-ONDAY û
ULYûûATûPMû0ARISûTIME
There is no change to the deal structure,
WHICHûINVOLVESûAûPRIMARYûOFFERINGûOFûUPûTOû
MûSHARESûTARGETINGûPROCEEDSûOFûõM û
WITHûTHEûOPTIONûTOûINCREASEûTOûõM
#%/û#HRISTOPHEû3APETûISûRAISINGûUPûTOû
õMûINûAûSECONDARYûTRANCHEûANDûTHEREûISû
PROVISIONûFORûAûPRIMARYûGREENSHOEûOFû
 ûSHARES
0RE
MARKETINGûlNISHEDûATûTHEûENDûOFû
UNEû
ANDûINVESTORSûHADûMETûWITHûMANAGEMENTûINû
AûSEMI
DECOUPLEDûPROCESSûBEFOREûTHEû
BOOKBUILDûBEGANûONû*ULYûû4HEûEXTENDEDû
ENGAGEMENTûWITHûINVESTORSûMEANTûTHEû
COMPANYûOPTEDûFORûAûSHORTûONE
WEEKû
BOOKBUILDûONûTHEûASSUMPTIONûTHATûCOVERAGEû
WOULDûBEûQUICK
$ESPITEûTHEûEXTENSION ûAûBANKERûINVOLVEDû
SAIDûONû&RIDAYûTHATûTHEûDEALûWOULDûCOMPLETEû
ONû4UESDAY
4HEûCOMPANYûNEEDSûTOûRAISEûCAPITALûINûTHEû
)0/ûASûITûONLYûHASûAûCASHûPOSITIONûOFûõM û


ALLOWINGûITûTOûPURSUEûPLANNEDûACTIVITIESûONLYû
SOûFARûASûTHEûENDûOFû!UGUSTûû4HEû
COMPANYûESTIMATESûITûREQUIRESûõMûTOû
CONTINUEûOPERATIONSûFORûAûFURTHERûû
MONTHS
Credit Suisse and Natixis INûCOOPERATIONû
with ODDO BHF AREûJOINTûBOOKRUNNERS

IRELAND


GLENVEAGH RAISES €213m FOR LAND
PIPELINE

Homebuilder GLENVEAGH PROPERTIES has raised
MOREûFUNDSû
ûJUSTûNINEûMONTHSûAFTERû
COMPLETINGûAûõMûmOATûINû$UBLINû
ûASûTHEû
COMPANYûCONSIDERSûPOTENTIALûACQUISITIONSû
ANDûJOINTûVENTURES
'LENVEAGHûRAISEDûõMûTHROUGHûAûlRMû
PLACING ûPLACINGûANDûOPENûOFFER ûWITHûTHEû
TRANSACTIONûSUBJECTûTOûSHAREHOLDERûAPPROVALû
ATûANû%'-ûONû!UGUSTû
3INCEûLASTû/CTOBERSûõMû)RISHû3TOCKû
%XCHANGEûmOTATION û'LENVEAGHûHASûBEGUNû
DEVELOPMENTûONûEIGHTûSITESûINûADDITIONûTOûTHEû
FOURûTHATûWEREûUNDERûDEVELOPMENTûONû
ADMISSIONû4HEûBUSINESSûHASûAûPORTFOLIOûOFûû
SITES ûHAVINGûADDEDûûSINCEûTHEû)0/û
/UTSTANDINGûPROCEEDSûFROMûTHEû)0/ûTOTALûõM
4HEûPIPELINEûINCLUDESûõMûOFûSITESûINû
EXCLUSIVITYûANDûAPPROXIMATELYûõMûOFû
SITESûUNDERûNEGOTIATIONû3ITESûTHATûAREû
EXPECTEDûTOûBECOMEûAVAILABLEûOVERûTHEûNEXTû
ûMONTHSûHAVEûAûTOTALûESTIMATEDûCOSTûOFû
õM
!ûlRMûPLACINGûOFûMûSHARESûPRICEDûATû
õûEACHûRAISEDûõMûFROMûINSTITUTIONALû
INVESTORSûANDûISûNOTûSUBJECTûTOûCLAWBACKû!û
FURTHERûMûHAVEûBEENûCONDITIONALLYû
PLACEDûSUBJECTûTOûCLAWBACKûFROMûAû
FOR

OPENûOFFER ûWHICHûRUNSûUNTILû!UGUSTû ûWITHû
AûRESULTûONû!UGUSTû
4HEûTOTALûOFFERûREPRESENTSûûOFû
EXISTINGûSHAREûCAPITAL
!LONGSIDEûTHEûFUNDRAISING û/AKTREEû
#APITALû-ANAGEMENTûHASûSOLDûMûSHARES û
REPRESENTINGûûOFûEXISTINGûSHAREûCAPITAL û
ALSOûATûTHEûõûPRICINGûFORûAûõMû
RETURNû/AKTREEûISûLOCKEDûUPûFORûûDAYS
Davy and Jefferies WEREûJOINTûBOOKRUNNERS

ITALY


PRYSMIAN RIGHTS SECURES STRONG
BACKING

)NVESTORSûGAVEûSTRONGûBACKINGûTOûENERGYûANDû
TELECOMSûCABLESûCOMPANYûPRYSMIAN with
ûTAKE
UPûFORûITSûõMûRIGHTSûISSUEû4HEû
DEALûISûTOûPROVIDEûMOREûlREPOWERûFORû
ACQUISITIONSûFOLLOWINGûTHEû)TALIANûCOMPANYSû
PURCHASEûOFû'ENERALû#ABLEûFORû53BNûLASTû
$ECEMBER

0RYSMIANûOFFEREDûMûSHARESûONûAûTWO
FOR
ûBASISûATûõûPERûSHARE ûREPRESENTINGû
AûûDISCOUNTûTOû4%20 ûBASEDûONûTHEû*UNEû
ûCLOSEûOFûõû3HARESûTRADEDûUPûDURINGû
THEûSUBSCRIPTIONûPERIOD ûENDINGûTHEûlRSTûDAYû
OFûSUBSCRIPTIONûONû*ULYûûATûõûANDûRISINGû
TOûõûATûTHEûCLOSEûONû*ULYû
In addition to shareholders, the rights
ISSUEûISûBEINGûEXTENDEDûTOûHOLDERSûOFû
0RYSMIANSûõMûûCONVERTIBLEûBONDSûDUEû
û7HEREûSHAREHOLDERSûAREûOFFEREDûRIGHTSû
ONûAûONEûRIGHTûPERûEXISTINGûSHAREûBASIS û
BONDHOLDERSûAREûENTITLEDûTOû ûRIGHTSûPERû
CONVERTIBLEûBOND
The remaining rights will be offered on
4UESDAY û*ULYû
The transaction was underwritten by
Banca IMI, Goldman Sachs and Mediobancaû
'OLDMANû3ACHSûANDû-EDIOBANCAûWEREûBOTHû
ADVISERSûONûTHEû'ENERALû#ABLEûACQUISITIONû
ANDûWEREûJOINEDûBYû"ANCAû)-)SûPARENTû)NTESAû
3ANPAOLO ûAMONGûOTHERS ûONûTHEû
ACCOMPANYINGûõBNûSYNDICATEDûLOAN

NORWAY


OPERA COVERS BOOKS FOR IPO

4HEûBOOKSûOFû.ORWEGIANûSOFTWAREûDEVELOPERû
OPERASû.ASDAQû)0/ûOFûUPûTOû53MûWEREû
COVEREDûONû7EDNESDAY ûACCORDINGûTOûAû
PERSONûCLOSEûTOûTHEûDEAL
4HEûCOMPANY ûWHICHûCOUNTSû"EIJINGû
Kunlun Tech as its biggest shareholder, is
SCHEDULEDûTOûPRICEûTHEûDEALûSHORTLYûAFTERû
CLOSINGûINSTITUTIONALûBOOKSûONû*ULYû
/PERAûISûOFFERINGûMûPRIMARYû!MERICANû
DEPOSITARYûSHARESûATûANûINDICATIVEûPRICEû
RANGEûOFû53nûEACHû4HEREûISûANû
OVERALLOTMENTûOPTIONûOFûUPûTOûMûSHARES
)NûADDITION ûTHEûCOMPANYûWILLûSELLûAû
COMBINEDû53MûINûAûCONCURRENTûPRIVATEû
PLACEMENTûTOûBITCOINûMININGûHARDWAREû
MANUFACTURERû"ITMAINûTAKINGû53M ûANDû
FUNDSûCONTROLLEDûBYû)$'û#APITALûFORû
53M 
#HINESEûINVESTORSûBOUGHTûTHEûCOMPANY û
BESTûKNOWNûFORûITSû/PERAûWEBûANDûMOBILEû
BROWSER ûINûûFORû53MûLESSûWORKINGû
CAPITALûADJUSTMENTS ûACCORDINGûTOûTHEûlLING
/PERAûISûûOWNEDûBYû"EIJINGû+UNLUNû
4ECH ûWHOSEûCHAIRMANûANDû#%/û:HOUû9AHUI û
WHOûHOLDSûTHEûSAMEûTITLESûATû/PERA ûHASûAû
BENElCIALûOWNERSHIPûOFûûINûTHEû
.ORWEGIANûCOMPANYûTHROUGHûSTAKESûINû
"EIJINGû+UNLUNûANDûOTHERûINVESTMENTû
VEHICLES
4HEûCOMPANYûISûKNOWNûFORûITSû/PERAûWEBû
ANDûMOBILEûBROWSERû)TûSERVEDûMû
AVERAGEûMONTHLYûACTIVEûUSERSûINûTHEûlRSTû
THREEûMONTHSûOFû ûOFûWHICHûMû
WEREûSMARTPHONEûANDû0#ûUSERSûCOMPAREDû
WITHûMûSMARTPHONEûANDû0#ûUSERSû
DURINGûTHEûSAMEûPERIODûINû
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