Primary and Secondary Market Placement and Rights Issue

When a listed company has fundraising needs, it may consider issuing shares, bonds or convertible bonds. Placing and rights issue are common ways for listed companies to raise equity/debt/equity-linked funding.

  • Placing means that a listed company will select certain individuals/institutional investors and offer them new shares/bonds/convertible bonds. The company generally engages investment banks to act as placing agents to assist interested investors
  • Rights issue means the company issues new shares, allowing existing shareholders to subscribe for shares. A rights issue means that a listed company issues new shares for existing shareholders to subscribe. If such shareholders choose not to participate in the rights issue, their shareholding will be “diluted”

The fundraising activity is a commercial decision of the listed company. Although the regulator is not inclined to intervene, the company can consult the investment bank and seek a solution that meets its fundraising objectives.

Please consult Wings Securities and seek a solution that meets your fundraising objectives.

Placing Agent’s main job responsibilities

Financial Advisory’s main job responsibilities

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