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Thursday, 14 December 2017

Graham Fahy' s stories

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  • A man looks at a UniCredit logo

    UniCredit woos substitute investors

    Top News | 13 January 2017

    UniCredit is courting new investors to support its €13bn rights issue amid concerns that not all of its current shareholders will be willing – or able – to take up their rights in a transaction that is vital to turning around Italy’s biggest bank.

  • UniCredit bank headquaters

    UniCredit fees an oasis in an ECM desert

    Top News | 06 January 2017

    The 19 underwriters of UniCredit’s €13bn rights issue should make the most of their fat fees as there will be few other pay days in Italy in the coming months, with a series of Italian banking recapitalisations likely to be orchestrated by the state behind closed doors – as in the case of Banca M

  • FCA proposals dampen appetite for FxPro

    Equities | 06 January 2017

    London-based currency trading broker FxPro has cancelled plans for a public listing as regulators prepare to impose stricter rules on firms offering contract-for-difference products to retail customers.

  • EMEA Equity Issue: Dong Energy's DKr19.7bn IPO

    All Special Reports | 16 December 2016

    Transformation stories are a tough sell in ECM, with outcomes hinging on the ability of the issuer to convince and inspire. But Dong Energy, together with its banks, adeptly navigated a minefield of investor anxieties that ranged from the future of green subsidies to concerns about a massive expansion plan ahead to ensure a successful Copenhagen listing.

  • Monte dei Paschi bank headquaters

    Monte dei Paschi faces bailout

    Top News | 09 December 2016

    Banca Monte dei Paschi di Siena may have little option but to ask for a government bailout after the European Central Bank rejected a plea to extend the deadline on its €5bn recapitalisation efforts by three weeks.

  • Varta Microbattery logo

    Varta shrugs off tricky calendar

    Equities | 04 November 2016

    The owner of battery producer Varta Microbattery is pushing ahead with a plan to raise cash and chase the next big thing in energy storage, even if it means negotiating a difficult IPO market and the volatility that comes with an unpredictable US presidential election.

  • Banca Monte dei Paschi Siena

    Recast BMPS rescue still reliant on tricky NPL deal

    Top News | 28 October 2016

    Banca Monte dei Paschi di Siena unveiled an ambitious turnaround plan last week, but its recast recapitalisation still hinges on a €28bn bad loan securitisation that remains marred by deep uncertainty.

  • Dis-Chem to list on JSE

    Equities | 21 October 2016

    One of South Africa’s largest pharmacy groups, family-owned Dis-Chem, is to seek a listing on the Johannesburg Stock Exchange after a share issue that allows its owners to reduce their stakes.

  • Lloyds Bank

    UK government returns to dribble-out

    Equities | 07 October 2016

    The UK chancellor has abandoned a plan to sell shares in Lloyds Bank to retail investors as it would not recoup cash that taxpayers invested in the bank because of the promise of a 5% discount combined with a depressed share price. The move was expected with the change of leadership in the UK (see “B

  • Pure Gym logo

    Low-cost gyms spark investor interest

    Equities | 16 September 2016

    A consumer shift to low-cost no-frills gyms triggered a flurry of ECM activity last week in the UK’s leading discount operators.