Alliance Oil puts shares at $ 100 million
Tomorrow we will know the outcome of the issue of Alliance Oil Company shares in the amount of 100 million dollars and placement of convertible bonds of 225 million dollars. Alliance Oil, which is controlled by the family of the President of Group «Alliance» Musa Bazhaeva became the first Russian company that went to a public distribution of shares from the beginning of the crisis. Analysts believe that the company chose a good time for entering the market and will use the funds primarily for the liquidation of its short debts, which in the first quarter were just under 410 million dollars.
Alliance Oil announced the start of the open placement of convertible bonds for 225 million dollars and shares in the new issue in the form of Swedish Depository Receipts (SDR) for 100 million dollars yesterday. Code Listing of bonds, maturing in 2014, will take place on the Luxemburg Stock Exchange. The loan may be repaid in three years if the price of SDR exceeds 130% of the value of bonds. The papers provide a quarterly coupon rate which will be determined in the range of 6.75 – 7.5%. SDR is expected to remain listed on NASDAQ OMX Nordic. According to a source familiar with the situation, the book of applications will be closed today, it is passing without a price corridor, and the results of the deployment are scheduled to make public on Friday.
European Stock Markets
On June 8, the mood of players in the market of European government bonds was changing during the day, which ultimately led to the formation of a mixed price movements for most of the trading session. The mood of investors was formed mainly under the influence of macroeconomic statistics in Europe.
Statistics of the euro zone, published on Monday, showed growth of investors’ optimism. According to the German research group Sentix, optimistic sentiment of European investors reached the maximum in June of this year. Instead of the expected growth to minus 31.0 points, the rate soared from minus 34.3 points to minus 27.0 points in May.
According to experts Sentix, the main factor in the growth of optimism in business circles in Europe has been the improvement of macroeconomic statistics, released recently in the countries of the euro zone. Against the backdrop of slowing economic downturn, confidence in the region is growing that the worst times of recession are behind us and the beginning of the restoration of economic growth is not far off.
New life in the “country of smiles”
Geography offers of real estate in Thailand are closely linked with resort-beach-oriented consumer demand. More than 60% of transactions on sale of housing to foreigners accounts for the tourist capital – Pattaya. Property in Pattaya is chosen as by those buyers who intend to use their housing for a few weeks of the year, renting it the rest of the time, and experts, who choose Thailand as the new place of permanent residence. Many buyers are also interested in commercial real estate segment. Phuket or Samui islands are preferred by wealthy people, because the price of real estate, and the cost of living is much higher there than on the mainland. There is even a special term in Thailand – villa phuket style, which means especially splendid. Also on Phuket and Samui the sea and beaches are much cleaner than in Pattaya.
