×
185
Fashion Jobs
AQUAGENICS RESEARCH & DEVELOPMENT INDIA PVT. LTD.
Area Sales Manager
Permanent · Pune
MUTHOOT FINCORP
Area Manager
Permanent · Tiruchirappalli
INFINIX
National Sales Manager
Permanent · MUMBAI
1MG
Sales Manager - Diagnostics
Permanent · National Capital Region
DODLA DAIRY LIMITED
Area Sales Manager -Salem
Permanent · Salem
HALONIX TECHNOLOGIES PVT LTD
Area Sales Manager - Fans & Lighting / Retail Sales
Permanent · Ludhiana
BASIC ENTERPRISES PVT LTD
Area Sales Manager
Permanent · Mumbai
ZEE LABORATORIES LIMITED
Area Sales Manager / Regional Sales Manager
Permanent · Bhopal
CROSS COUNTRY INFOTECH
Production Manager
Permanent · Jodhpur
PROPERTYXPO.COM
Area Sales Manager| Real Estate Portfolio Management | Gurgaon
Permanent · Gurugram
RELIABLE CLOTHING PVT. LTD
Production Manager - Garment Manufacturing Export House
Permanent · Mumbai
HUMAN TOUCH
Sales Manager - Mumbai
Permanent · Mumbai
KAZO FASHION PRIVATE LIMITED
Garment Technician
Permanent · Noida
UMANO HEALTHCARE PRIVATE LIMITED
Regional Sales Manager / Area Sales Manager- (Pharma Sales) mp
Permanent · Bhopal
OLIVE GREEN CONSULTING LLP
Urgently Looking For Production Manager - Gurgaon
Permanent · Gurugram
MONEYWISE FINANCIAL SERVICES
Area Sales Manager || Nbfc (Lap / bl) - Delhi
Permanent · National Capital Region
MAGICBRICKS
Area Sales Manager
Permanent · Thane
KENT RO SYSTEMS
Corporate Sales Manager
Permanent · Chennai
RELAXO
Area Sales Manager
Permanent · Bargarh
OUTHOUSE JEWELLERY
E-Commerce Manager
Permanent · NOIDA
TOUCH MOBILES
Wanted Area Sales Manager - Touch Mobiles
Permanent · Khammam
GOKALDAS EXPORTS
Manager - Fabric Warehouse - Garments Background - Bhopal, mp
Permanent · Bhopal
By
Reuters
Published
Jun 11, 2009
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Nomura wins first rights issue mandate in Europe

By
Reuters
Published
Jun 11, 2009

By Daisy Ku

LONDON, June 11 (Reuters) - Japan's Nomura (8604.T) won its first rights issue mandate in Europe this year, underwriting a 420 million Swiss franc ($390 million) deal for Swiss flavours and fragrance maker Givaudan (GIVN.VX).


Photo courtesy of Givaudan

Nomura is co-underwriting the lucrative Givaudan deal with Swiss bank UBS (UBSN.VX), fifth in the Thomson Reuters Global Equity Capital Markets (ECM) league table, accounting for a 7 percent market share.

Nomura ranks 10th, with 1.9 percent of the market.

Looking to become a global player, the Tokyo-based investment bank acquired the European, Middle Eastern and Asia (EMEA) units of Lehman Brothers (LEHMQ.PK) last September, when the Wall Street bank went bankrupt.

Givaudan said the total cost of the share sale was 22 million francs, including fees. Underwriting fees were between 3 percent and 3.5 percent, a banker close to the deal said. That compares to 2.75 percent for recent jumbo rights issues from HSBC (HSBA.L) and Rio Tinto (RIO.L).

In Europe, Nomura only stood 47th in the first five months of the year. Yet, assuming Nomura had acquired the Lehman operations in 2007, it would have ranked 11th in Europe.

In M&A, the bank lost out on significant fees when Rio Tinto Group (RIO.AX) rejected a $19.5 billion tie-up with state-owned Chinalco, opting for a capital hike to reduce debt instead. Nomura had been one of Chinalco's advisers.

Previously, it had been working on rights issues in Europe as a senior co-lead or co-lead though not as an underwriter, meaning it got significantly lower fees.

It was one of the senior co-lead managers for HSBC's (HSBA.L)(0005.HK) $19 billion rights issue and the 8 billion euro ($11.23 billion) rights issue of Enel SpA (ENEI.MI).

It also was the co-lead on Banco Espirito Santo's (BES.LS) $1.6 billion rights issue, as well as a co-manager on Italy's Seat Pagine Gialle Spa's (PGIT.MI) $255 million deal.

Its capital markets division is growing. The bank is employing around 40 people in its equity capital markets team in the EMEA region, significantly up from the 15 to 20 people in the Nomura team before the deal.

It has also recruited Goldman Sachs (GS.N) bankers Johannes Hertz and Gianluca Gera to join as managing directors earlier this year, reporting to Ken Brown, head of Equity Capital Markets, Investment Banking.

For a FACTBOX with the European share offer pipeline, click on

For a FACTBOX with the European IPO pipeline, click on

(Editing by David Cowell) ($1 = 1.077 Swiss francs = 0.7126 euro)

© Thomson Reuters 2022 All rights reserved.