CEE Equity

Among the four smallish equity block trades launched in Europe on Tuesday afternoon, after a strong day for stocks, was an important trade in Romgaz, the Romanian state-controlled gas company.

The two IPOs under way in Prague are both garnering good interest in investor education, bankers said this week. Both companies seeking to float, GE Money Bank and EP Infrastructure, are solid, high quality assets, and the Czech economy is seen as stable and attractive.

A year can go by without an IPO in Prague, but this week has brought two. The day after GE Money Bank set out to float, Energetický a průmyslový holding (EPH), the Czech coal, gas and power company, began investor education for its plan to list EP Infrastructure, its energy transmission and distribution business.

GE Money Bank, the Czech retail and SME bank, announced its intention to float on Monday, as its parent General Electric executes its plan to sell most of its financial services operations.

Slovenian Sovereign Holding, which manages state assets, has chosen Deutsche Bank as financial adviser for the privatisation of Nova Ljubljanska banka. It will probably be done as an IPO, possibly this year.

The pent-up demand from equity owners to sell down blocks of shares was evident again on Thursday evening, as two deals were launched, after the Euro Stoxx 50 had managed to rise 0.3% on the day.

The arid landscape for equity block trades so far this year in EMEA was brightened on Wednesday by two evening sales, both with a Russian flavour and involving elite clients.

Budapest Bank, the bank that the Hungarian state bought from GE Capital last year, would be ready for an initial public offering if its owner chose to float it, the bank’s CEO said on Monday.

After almost five years, Hong Kong has recognised Russia as an accepted jurisdiction for issuers looking to list in the city. But whether the ties would be a game-changer for Asian equity capital markets is a big question, writes Philippe Espinasse.

Armenia's Ameriabank has sold 20% of its equity to the European Bank for Reconstruction and Development (EBRD) as it seeks to grow ahead of a potential listing.

The Hong Kong Stock Exchange has given Russian companies the nod to list depositary receipts on its main board.

Russian companies are now allowed to list depository receipts in Hong Kong, according to an announcement from the city’s stock exchange.