ASIA-PACIFIC
AUSTRALIA
CENTURIA REIT COMPLETES OFFERCENTURIA METROPOLITAN REIT has completed a
A$197m (US$140m) entitlement offer to
part-fund the acquisition of four
METROPOLITANûOFlCES
Existing retail shareholders took up
approximately A$14.7m of the A$97m retail
entitlement offer, with the remainder
allocated to various institutional investors
that sub-underwrote the offer.
The company raised A$100m earlier from
the institutional tranche.
The entitlement offer comprises 80.9m
new units at A$2.43 each on a 1–for–3 basis.
The price represents a 4.7% discount to the
pre-deal close of A$2.55 on October 9.
Separately, the REIT launched a A$79m
placement to new and existing institutional
investors, which puts the entire capital
raising exercise at A$276m.
Centuria Metropolitan REIT shares closed
at A$2.32 last Thursday.
The 2015-listed REIT owns 19 assets in a
A$930m portfolio. It plans to acquire four
OFlCEûASSETSûFROMû(INESû'LOBALû2%)4ûFORû
!Mû4WOûOFûTHEûOFlCESûAREûINû
Brisbane, one is in Melbourne and one is in
Sydney.
Moelis Australia Advisory and UBS were
underwriters for both fundraisings, with
Shaw & Partners as co-lead manager.CENTURIA CAPITAL RAISES A$100m EQUITYCENTURIA CAPITAL GROUP has raised A$100m
(US$71m) from an entitlement offer and
placement.
The company received A$80m from an
entitlement offer comprising a A$52minstitutional tranche and a A$28m retail
portion.
The retail entitlement offer was
supported by existing holders who took up
about A$5.5m. The other A$22.5m was
allocated to institutional investors that sub-
underwrote the retail offering.
The company launched the entitlement
offer, which comprises 61m new stapled
shares on a 1-to-5 basis, at an issue price of
A$1.30 each. It also raised A$20m from an
institutional placement of 15.6m issued
shares.
Both equity raisings were underwritten
by Moelis Australia, with Shaw & Partners as co-
lead manager.CHINA
SINOCHEM ENERGY WINS LISTING
APPROVALSINOCHEM ENERGY has won listing approval for
its Hong Kong IPO of up to US$2bn,
according to people close to the deal. Pre-
marketing will start on Monday, said the
people.
BOC International, CLSA and Morgan Stanley
are the joint sponsors.
The company is the energy unit of state-
owned Chinese chemicals conglomerate
Sinochem Group. Sinochem Energy’s
BUSINESSESûINCLUDEûOILûRElNING ûOILûTRADING û
storage and logistics, marketing and
distribution.
)TûPOSTEDûAûNETûPROlTûOFû2MBBNû
53M ûFORûTHEûlRSTûTHREEûMONTHSûOFû
2018, down 46% from a year earlier. Its 2017
NETûPROlTûWASû2MBBNRUHNN PLANS US IPOHANGZHOU RUHNN HOLDING, an internet
celebrity promoter in China, is planning a
US$100m–$200m US IPO in 2019, according
to people close to the deal.ASIA-PACIFIC EQUITIES
BOOKRUNNERS: 1/1/2018 TO DATE
Managing No of Total Share
bank or group issues US$(m) (%)
1 Morgan Stanley 80 15,862.32 7.9
2 Goldman Sachs 73 14,494.11 7.2
3 Citigroup 81 12,303.82 6.1
4 UBS 61 12,229.64 6.1
5 CICC 28 9,322.17 4.6
6 JP Morgan 46 8,687.19 4.3
7 BAML 25 8,539.56 4.2
8 Credit Suisse 41 6,719.33 3.3
9 Citic 43 6,344.92 3.1
10 Nomura 70 4,586.83 2.3
Total 1,997 202,028.45
Including all domestic and international deals and rights issues
Source: Refinitiv SDC code: C4a1ASIA-PACIFIC EQUITIES (EX-JAPAN)
BOOKRUNNERS: 1/1/2018 TO DATE
Managing No of Total Share
bank or group issues US$(m) (%)
1 Morgan Stanley 56 13,479.75 7.6
2 Goldman Sachs 71 12,279.33 6.9
3 UBS 58 11,956.86 6.7
4 Citigroup 75 11,772.30 6.6
5 CICC 28 9,322.17 5.2
6 BAML 21 7,669.43 4.3
7 Credit Suisse 40 6,546.20 3.7
8 Citic 43 6,344.92 3.6
9 JP Morgan 41 5,755.04 3.2
10 Macquarie 24 4,057.08 2.3
Total 1,811 177,722.25
Including all domestic and international deals and rights issues
Source: Refinitiv SDC code: C4a2WEEK IN NUMBERS
52.88%/
46.98%
SWISS BAKER ARYZTA JUST SECURED
SHAREHOLDER BACKING FOR ITS SFr900m
RIGHTS ISSUE AT LAST THURSDAY’S
AGM. LARGEST SHAREHOLDER COBAS
ASSET MANAGEMENT HAD OPPOSED THE
FUNDRAISING – PREVIOUSLY OUTLINED
AS €800m – PUTTING FORWARD AN
ALTERNATIVE PLAN FOR A €400m CAPITAL
INCREASE AND €250m OF DISPOSALS TO
DELEVERAGE THE COMPANY
Rs800bn
THE INDIAN GOVERNMENT IS QUEUEING
UP FOUR POTENTIAL OFFERS FOR SALE TO
MINIMISE THE SHORTFALL IN PRIVATISATION
PROCEEDS VERSUS THE Rs800bn (US$10.9bn)
TARGET FOR THE FISCAL YEAR TO MARCH
- PROCEEDS FOR THE YEAR WERE JUST
Rs100bn PRIOR TO LAST WEEK’S CIRCA
Rs50bn SALE IN COAL INDIA
5%
AHEAD OF WHAT IS TYPICALLY A BUSY
PERIOD FOR ACCELERATED SELL-DOWNS
IN EUROPE, WENDEL AUCTIONED A NEAR
5% SLICE OF BUREAU VERITAS. VOLATILE
MARKETS HAVE SCARED INVESTORS
OFF SO EVEN PRICED DOWN 5% FROM
THE CLOSE, GOLDMAN SACHS WAS LEFT
HOLDING SOME SHARES
US$3bn-$4bn
THE WORLD’S LARGEST URANIUM MINER
KAZATOMPROM BEGAN BOOKBUILDING
FOR ITS LONDON GDR AND DOMESTIC
LISTING WITH A VALUATION OF US$3bn-
$4bn, DEFYING THE CURRENT WEAKNESS
IN THE EMEA IPO MARKET
Ð One-third
EXISTING SHAREHOLDERS IN TWIST
BIOSCIENCES HAD LITTLE CHOICE BUT TO
REINVEST ON ITS IPO OR FACE ENORMOUS
DILUTION. PRICING OF THE IPO CAME
AT US$14 PER SHARE, A THIRD LOWER
THAN THE US$21.24 APIECE PAID IN THE
PREVIOUS FUNDING ROUND
One month
KKR’S SHARE SALE IN GARDNER DENVER
WAS THE FIRST US SPONSOR SELL-DOWN
SINCE SEPTEMBER 20, PARTLY DUE TO
RESULTS SEASON BUT POOR POST-SALE
PERFORMANCES SUCH AS VENTIV ALSO
EXTENDED THE QUIET PERIOD