Capital markets news | Tue 20 Feb 2024

Capital markets news | Tue 20 Feb 2024

Equity

• M&A Securities underwrites Zantat’s ACE Market listing NST Star Edge

• Rexit main shareholders’ takeover offer unfair and unreasonable NST Edge

• Creador increases stake in CTOS Star

• Foreign buying on Bursa continues Star Edge

• GFM Services to raise RM14.8m via private placement Edge

• LEAP-listed ICT Zone Asia to transfer to ACE Market by 1Q2025 Edge

• Dataprep aborts RM40m private placement for Bandung project Edge

• TM should return cash to shareholders Edge

• Saudi PIF and Singapore’s PSA mull Global Ports IPO Edge

• Shanghai car rental firm eHi eyes USD300m US IPO Edge

• CVC-owned perfume retailer Douglas to kick off IPO soon Star

Debt

• YTL Power International’s AA1 ratings affirmed RAM

• YTL Corp’s AA1 ratings affirmed RAM

• Malayan Cement outlook raised to positive RAM

• Kedah Cement’s sukuk programme ratings withdrawn upon maturity RAM

• Pelaburan Hartanah Berhad assigned AAA corporate credit rating RAM

• Maybank to disburse RM18b to SMEs in 2024 NST Star

• Saudi National Bank hires banks for sustainable sukuk Edge

• Chinese state banks set aside USD8b for property projects Edge

Mergers and acquisitions

• Public Bank buys RHB’s Vietnam securities broker business NST Mail Star Edge

• Wave of deals puts US shale oil back in focus Mail

• PA Resources buys factory land for RM21m Star Edge

• Indonesia and Vale agree on price for divestment Star

• JD.com joins Elliott in bid for UK’s Currys Edge

Projects and business

• Sibu to become green methanol bunkering hub Star

• No more time extensions for delayed LSS4 projects Edge

• Chinese EV maker Xpeng to hire 4k and invest in AI Star Edge

• Pfizer inflammatory bowel disease drug wins EU approval Edge

Economy and market news

• France cuts 2024 growth forecast as outlook darkens Mail

• Real estate consultant JLL optimistic on Malaysian market Star

Legal and regulatory

• Bursa reprimands CN Asia and fines 7 directors RM225k Mail Star Edge

• Landmarks given third extension to submit regularisation plan Edge

• China exempts stamp tax on offshore trade Star

• Toyota Industries faces crackdown for engine emissions cheating Edge