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.
Royal Bank of Scotland cut its stake in US regional bank Citizens Financial below 25% Tuesday via an upsized US$2.2bn secondary stock sale. The previously flagged offering, marketed over one session, puts the bailed-out UK lender well ahead of schedule to meet a promise to completely divest the stake by the end of 2016.
Gym franchisor and operator Planet Fitness sees an opportunity to more than quadruple its locations in the US over time as it presses ahead with plans to raise up to US$216m in an IPO.
National Australia Bank is poised to sell all of its remaining stake in South Dakota-based agricultural bank Great Western Bancorp via a secondary stock sale scheduled to price overnight Monday concurrent with a US$60m share repurchase by Great Western.