Robert Venes is assistant editor of equities and structured equity at IFR. Robert joined IFR in late 2009 from sister title Acquisitions Monthly, focusing on private equity transactions and fundraisings. He was previously associate editor at Private Equity International and, before that, editor of Venturedome.
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Nordic private equity house EQT has posited a refinement to the way lock-ups are calculated for major selling shareholders. Caspar Callerstrom, a partner and head of equity in Stockholm at EQT, has suggested that instead of lock-ups for a set period – typically 180 days post IPO and 90 days after subsequent sales – they should instead be tied to the quarterly reporting cycle.
Bank of Cyprus is raising €1bn to shore up its capital ratios ahead of more stress tests later this year, through a three-tranche approach.
Telefonica wrapped up a €750m 2017 mandatory exchangeable bond and associated delta placing in Telecom Italia last Wednesday night. The trade was a relatively rare and rather neat way of monetising shares that the Madrid-based carrier does not currently possess.