Anthony Hughes is senior reporter, equities, for IFR where he covers developments in US equity capital markets. He previously worked as a financial reporter and columnist for the Australian Financial Review and, prior to that, as investment editor at the Sydney Morning Herald.
Macquarie pocketed about US$160m from the sale of stock in Macquarie Infrastructure Corporation received in lieu of management and performance fees. The sale, via a block sale of shares nearly equivalent in size to the bank’s first-quarter compensation, follows MIC’s remarkable turnaround from its near extinction in the financial crisis.
Canadian tea retailer DavidsTea expects to price a US$81.6m Nasdaq IPO on June 4, capitalising on its robust store growth as the traditionally staid beverage has become more popular with young and health-conscious consumers.
Just three months after its last sale, Armstrong World Industries’ asbestos claims trust sold another chunk of its stake in the building products group through a 144 block auction overnight Wednesday that raised about US$86m.