Activity in the equity capital markets is a lot quieter than in the past couple of years at this time, but that doesn’t mean there is nothing on offer for investors. Last week saw a couple of Korean block trades and a convertible bond that together raised $1 billion, and four issuers announced rights offerings that are targeting a combined $3.6 billion over the next couple of months.
And, yesterday, bankers started pre-marketing for the upcoming IPO of HKT Trust, the telecommunications business that PCCW is spinning off. As reported earlier, the trust is aiming to reach a minimum market capitalisation of HK$28.6 billion $3.7 billion by selling between...
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