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Global Banking News-December 10, 2015--1st Source Corporation announce secondary stock offering
The company's stock has more than doubled in value so far this year, paving the way for this secondary stock offering of 70 million shares.
Ooredoo, the biggest telecommunications operator in Qatar, is considering a secondary stock market listing in London as the company looks to diversify its investor base and improve the liquidity of its shares, bankers familiar with the matter said.
Carl Potter, director and head of national offices at GVA, said: "Deals are still taking time to get over the line and the backbone of activity consists of a churn of secondary stock below 5,000 sq ft.
Continued regional investment news from Nissan, together with Washington's easy accessibility to the region's main road network, has resulted in consistent local demand for new and secondary stock from the warehousing and logistics sector.
Peter Cooper-Parry, head of Savills portfolio sales team, comments: We are delighted to be launching The Ruby Portfolio at a time when there is strong appetite for good secondary stock requiring intensive asset management and when the market is still short of product.
Prudential, which has secondary stock listings in Hong Kong and Singapore, generates 45% of sales in Asia, which is currently supporting a flagging performance in the UK.
Additional expenditure will undoubtedly impact on the market, particularly for secondary stock where we are already seeing the effect of physical obsolescence on pricing and marketability.
A greater proportion of the deals have been cash-driven, with particular regard to secondary stock and those properties which are distressed.
There is also perception that pricing of secondary stock has not fallen enough with a dichotomy in a sale situation that buyer and seller price expectations are adrift making the secondary stock quite difficult to transact on.
to a strategic buyer or divest it through a secondary stock offering, Chief Executive Officer Jerry Grandey said, reported Bloomberg.
In November, CBRE raised $207 million through the sale of 57 million shares through a secondary stock sale.