Dah Sing chooses tough day to sell new shares

The medium-sized Hong Kong lender raises $38.8 million from a top-up placement on a day when financial stocks take a beating on renewed concerns about loan losses at the US banks.

While it is widely anticipated that more Asian banks will approach the equity capital markets to re-capitalise their balance sheets in the coming months, it was a surprise that someone chose to do so yesterday. Not only were Asian markets down almost across the board, but they were led lower by financial stocks in a sell-off that spilled over from the US the night before. This shift in sentiment was sparked by renewed concerns about loan losses at...

To continue reading, please login or register for free

Click for more on: placement | followon | banks | hsbc | dah sing | fig

Print Edition

FinanceAsia Print Edition

CONFERENCES