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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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.
Three investors have declared positions in Spire Healthcare, which debuted in London on Friday. Despite a weak market backdrop, the shares opened at 211p, then hovered around the IPO pricing of 210p until a slight rise in the afternoon made for a close of 210.50p, with stabilisation said to be quite light.
Food concessions group SSP made a solid start to life as a listed company, in a tough week for debuts. After pricing at 210p, from a 200p–240p price range, for a deal size of £481.6m, shares opened and traded above 220p for much of Thursday’s debut before closing at 215.75p.