Robert Venes is assistant editor of equities and structured equity at IFR. Robert joined IFR in late 2009 from sister title Acquisitions Monthly, where he focused 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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Banco Sabadell has resisted the urge to include every bank with which it has a relationship when filling out the syndicate for its €1.6bn rights issue. The capital increase is to back the £1.7bn takeover of UK bank TSB and avoids the trend towards large syndicates on equity deals by financial
The London Stock Exchange IPO of Auto Trader a UK online marketplace for cars, will price at 235p or higher tomorrow.
A shift in behaviour by both issuers and investors has significantly accelerated the pace at which “overnight” trades have been executed in Europe. So far this year, 25 of 28 accelerated bookbuilds launched after the market close have wrapped up on the same evening – very different to the previous norm when deals would finish shortly ahead of the market open the next day.