Capital markets news | Thu 22 Feb 2024

Capital markets news | Thu 22 Feb 2024

Equity

• MKH Oil Palm signs underwriting with M&A Securities and Kenanga Edge Star

• Two new Cuscapi substantial shareholders bought 7% at hefty discount Edge

• Lapasar raises RM31m and targets RM1b revenue by 2026 Edge

• Reddit to reserve shares for big users in IPO Edge

• Asia led new unicorn creation in Jan 2024 Edge

• Wealth funds eye McDonald’s China investment Star

Debt

• Semarak gets RM1.88b Singapore loan for Perak hydrogen project NST Edge

• Private credit is next big wager for pension funds Star

• Verizon raises USD1b in sixth green bond since 2019 Star

Mergers and acquisitions

• Rimbunan Sawit sells Miri agricultural land for RM165m Star

• France’s Saint-Gobain offers to buy Australia’s CSR for USD2.8b Edge

• London’s BT Tower sold to hotel owner MCR for GBP275m Edge

• Jack Ma’s wife bought three Singapore prestige properties Edge

• Thoma Bravo exploring J.D. Power sale Star

Projects and business

• SunCon bags RM720.99m shopping mall contract NST Edge Star

• Citaglobal-Reneuco wins ECRL green energy supply contract NST Mail Edge Star

• Petronas Chemicals signs MOU with Sarawak Petchem for ammonia plant Edge Star

• The Body Shop to shut nearly half of UK shops Mail

• EV maker Rivian cuts 10% of salaried staff as output forecast misses Edge

• Rio strikes Australia’s largest clean energy deal Star

• Boeing calls out inaction on sustainable jet fuel Star

• Ambani-backed AI model to launch in Mar Star

• Mizuho plans to remain a top 10 global investment bank Star

Economy and market news

• Malaysia’s 2024 external trade to rebound amid global chip sales upswing Mail

• Manufacturing at 79.8% capacity Star

• US Fed minutes suggest officials seek small balance sheet Edge

• Markets underestimate risk of inflation re-accelerating Edge

• Coal boom slows as focus shifts to renewables Star

• Wireless charging for electric cars is inching closer to reality Star

• China pivots to three tech industries to power growth Star

• Indonesia central bank keeps policy rate unchanged Star

Legal and regulatory

• Court of Appeal grants stay in PNSB’s RM1.2b tax case Edge

• SC adds seven entities to Investor Alert List Edge

• China bans major investors from reducing holdings at open and close Edge

• India regulator finds USD241m accounting issue at Zee Edge