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July 3, 2020
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Equity Financing

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BPER sees cash call of 600-700 million euro to fund new Intesa deal: sources

Reuters
MILAN (Reuters) – Italy’s BPER Banca (EMII.MI) estimates it will need to raise 600-700 million euros in a new share issue to fund a revised deal to buy branches and assets from Intesa Sanpaolo (ISP.MI), two sources with knowledge of the matter said on Monday. BPER has already approved a......
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Commerzbank preparing to make more job cuts: board member

Reuters
FRANKFURT (Reuters) – Commerzbank (CBKG.DE) will announce “considerably” more branch closures and job cuts when it lays out its strategy review in August, a member of the bank’s supervisory board said on Monday. FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG during the annual......
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Commerzbank to cut more jobs, branches: board member

Reuters
FILE PHOTO: A company logo is pictured at the headquarters of Germany’s Commerzbank AG during the annual results news conference in Frankfurt, Germany, February 13, 2020. REUTERS/Ralph Orlowski FRANKFURT (Reuters) – Commerzbank (CBKG.DE) will announce “considerably” more branch closures and job cuts when it lays out its strategy review in......
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Bankrupt Hertz to seize on speculation frenzy with $1 billion stock sale

Reuters
FILE PHOTO: A logo of car rental company Hertz is seen on a building during the coronavirus disease (COVID-19) outbreak in Nice, France, May 27, 2020. Picture taken with a slow shutter speed and a zoom effect. REUTERS/Eric Gaillard (Reuters) – Hertz Global Holdings Inc said it won bankruptcy court......
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SoftBank share buybacks near $3 billion despite May slowdown

Reuters
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato TOKYO (Reuters) – SoftBank’s (9984.T) share buybacks slowed in May, a company filing showed on Friday, although total purchases to support its share price since March reached......
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Palantir close to registering for stock market debut: sources

Reuters
(Reuters) – Data mining firm Palantir Technologies Inc is aiming to file confidentially with U.S. regulators to go public in the coming weeks, emboldened by the strong performance of other initial public offerings (IPOs), people familiar with the matter said. FILE PHOTO: The logo of U.S. software company Palantir Technologies......
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Unilever plans switch to UK holding company to cut complexity

Reuters
(Reuters) – Unilever proposed collapsing its Anglo-Dutch legal structure into a single holding company based in Britain on Thursday, nearly two years after shareholders sank an earlier plan to move its headquarters to the Netherlands. FILE PHOTO: Traffic and people pass by the front of the Unilever building in central......
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Chinese companies put U.S. listing plans on ice as tensions mount

Reuters
SHANGHAI/HONGKONG (Reuters) – Chinese companies are putting off plans for U.S. listings as tensions between the world’s top two economies rise, lawyers, bankers, accountants and regulators involved in what has been a major capital-raising route told Reuters. FILE PHOTO: The New York Stock Exchange is seen in the financial district......
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GE reopens parts of prior debt offerings to raise $3 billion

Reuters
FILE PHOTO: The General Electric Co. logo is seen on the company’s corporate headquarters building in Boston, Massachusetts, U.S. July 23, 2019. REUTERS/Alwyn Scott (Reuters) – General Electric Co (GE.N) said on Monday it reopened portions of its prior debt offerings for $3 billion in total proceeds to boost its......
Reuters - Business

LVMH’s Arnault mulls ways to renegotiate deal with Tiffany: sources

Reuters
(Reuters) – LVMH (LVMH.PA) CEO Bernard Arnault is exploring ways to reopen negotiations on the French luxury goods giant’s $16.2 billion acquisition of U.S. jewelry chain Tiffany & Co (TIF.N), as U.S. social unrest and the coronavirus pandemic weigh on the retail sector, people familiar with the matter said on......
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Warner Music strikes a chord as shares pop on Nasdaq debut

Reuters
(Reuters) – Warner Music Group Corp’s WMG.O stock popped 8% on its Nasdaq debut on Wednesday, after the world’s third-largest recording label sold shares in its $1.9-billion initial public offering towards the higher end of its target. The deal, the biggest U.S. listing so far in 2020, marks a further......
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Financing hunt during pandemic lifts May U.S. convertible debt issuance to record

Reuters
NEW YORK (Reuters) – U.S. issuance of convertible bonds in May hit a record high of $20.7 billion, according to Bank of America data, as companies struggling with the impact of the coronavirus pandemic ventured into the one-time niche market seeking cheaper and easier ways to borrow cash. FILE PHOTO:......
Reuters - Business

Australia’s Woolworths to reward over 100,000 staff with shares for virus efforts

Reuters
FILE PHOTO: Shoppers walk into a Woolworths supermarket in Sydney, Australia August 22, 2017. REUTERS/Jason Reed/File Photo (Reuters) – Australia’s biggest supermarket chain Woolworths Group said on Tuesday it will reward more than 100,000 of its staff with free company shares for their efforts during a period of upheaval amid......
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U.S. companies issue shares at fastest rate ever, selling the rally

Reuters
NEW YORK (Reuters) – U.S. public companies sold more than $60 billion in shares in May, the biggest monthly haul ever, as they capitalized on a stock market rally fueled by hopes that the COVID-19 pandemic is subsiding. FILE PHOTO: Traders wear masks as they work on the floor of......
Reuters - Business

Tencent in talks to buy Warner Music stake: WSJ

Reuters
FILE PHOTO: People visit Tencent’s booth at the World 5G Exhibition in Beijing, China, Nov. 22, 2019. REUTERS/Jason Lee/File Photo (Reuters) – Chinese internet giant Tencent Holdings Ltd (0700.HK) is in talks to invest $200 million in Warner Music Group, ahead of the record company’s slated initial public offering next......
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Coffee maker JDE Peet’s IPO wrapped up in just 72 hours: sources

Reuters
LONDON/PARIS (Reuters) – It took just three days to sell shares in JDE Peet’s JDEP.AS as investors facing a dearth of opportunities because of the coronavirus-induced slow-down rushed to secure a dose of the world’s No. 2 maker of packaged coffee. FILE PHOTO: L’or and Douwe Egberts coffee packets are......
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Germany stamps authority on Lufthansa with $9.8 billion lifeline

Reuters
FRANKFURT/BERLIN (Reuters) – Germany threw Lufthansa (LHAG.DE) a 9 billion euro ($9.8 billion) lifeline on Monday, agreeing a bailout which gives Berlin a veto in the event of a hostile bid for the airline. FILE PHOTO: Aircraft of the German carrier Lufthansa are parked on the tarmac, as the spread......
Reuters - Business

Dozens of Chinese companies added to U.S. blacklist in latest Beijing rebuke

Reuters
WASHINGTON (Reuters) – The United States said on Friday it would add 33 Chinese firms and institutions to an economic blacklist for helping Beijing spy on its minority Uighur population or because of ties to weapons of mass destruction and China’s military. FILE PHOTO: Flags of U.S. and China are......
Reuters - Business

Norwegian Air gets $271 million state-backed loan after debt restructuring

Reuters
FILE PHOTO: Passengers board a Norwegian Air plane in Kirkenes, Norway October 26, 2019. REUTERS/Gwladys Fouche/File Photo OSLO (Reuters) – Budget airline Norwegian Air (NWC.OL) has secured a long-sought credit guarantee from Norway’s government after completing a debt restructuring, it said on Wednesday, allowing it to survive in a slimmed-down......
Reuters - Business

Exclusive: Nasdaq to tighten listing rules, restricting Chinese IPOs – sources

Reuters
FILE PHOTO: A man walks near Nasdaq MarketSite in an empty Times Square as the coronavirus disease (COVID-19) outbreak continues in New York City, U.S., March 29, 2020. REUTERS/Eduardo Munoz NEW YORK (Reuters) – Nasdaq Inc (NDAQ.O) is set to unveil new restrictions on initial public offerings (IPOs), a move......

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