Two Success Stories In Asian Equities

August 2008 | Corporate Financing News Alert

Despite continuing market volatility and the weak sentiment surrounding Asian IPOs so far in 2008, Australian pharmaceutical firm CSL and Royal Philips Electronics managed to raise US$2.2bn between them in the space of 24 hours. Encouragingly, the two sales suggest that, even in current shaky equity markets, there is still money around for the right opportunities. The two successful block trades saw Dutch giant Royal Philips Electronics sell its final stake in the Taiwan Semiconductor Manufacturing Company (TSMC), and CSL raise around US$1.5bn to fund its latest acquisition, the US$3.5bn purchase of US rival Talecris Biotherapeutics.

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