Two deals break deafening Asian equity silence

TWi Pharma's GDR sale and Hertz's block trade of Car Inc mark the first major ECM transactions in Asia-Pacific since late July.

Taiwan-listed TWi Pharmaceuticals and American car rental company Hertz reanimated Asia’s equity capital markets on Wednesday through the execution of two separate equity deals on the back of a strong rally in Asian equities.

Wednesday was described as the best window in recent months to pull off an equity transaction, according to a source familiar with the situation.

Most Asian exchanges traded up significantly in the afternoon after a sloppy morning trade. The rally was led by Japan, which rose 7.7% in the biggest single-day gain since October 2008. Hong Kong followed and ended the day up 2.4%, while the Taiex fell behind with only a 0.9%...

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