Owen Wild is Deputy Editor of International Financing Review based in London. He joined IFR in 2004 as a reporter and has since worked across Equities, Structured Equity and Derivatives sections as both reporter and editor. Prior to becoming deputy editor in 2010, he had global responsibility for IFR’s ECM coverage. Before joining IFR, Owen covered foreign exchange markets. Follow Owen on Twitter @IFR_Owen
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A €375m accelerated bookbuild in Austrian real estate company Buwog generated a flurry of chatter last week as seller Sapinda Invest had purchased the shares just six weeks earlier.
A successful near-US$1bn accelerated bookbuild and a Swiss IPO that delivered an 8% return on day one added some credence last week to European ECM bankers’ claims that the consequences of the UK’s decision to leave the EU may not be as great as feared – at least for equity capital markets.
Swiss Prime Site was already in investors’ thoughts when it launched yesterday’s SFr250m (US$259.3m) convertible bond issue – as it also marked the last day to convert the 1.875% convertible issued five years ago.