Equity

Despite fears over a lack of legal market reform, India has witnessed its largest-ever initial public offering (IPO) and equity offering from DLF and ICICI Bank, respectively. ICICI carried out the country's largest equity offering, raising $5 billion in a follow-on public offer on the Indian and New York Stock Exchanges. Elsewhere, DLF, a real estate company, capitalized on India's booming property market and raised $2.25 billion in the country's largest ever IPO.

The privatization of Sahara Bank by the Libyan Central Bank has resulted in the debut share block sale on the Tripoli Stock Exchange. BNP Paribas agreed with the Libyan Central Bank and Libya's State Economic Development Fund (SEDF) to acquire 19% of Sahara Bank for €145 million. There is also an option to raise BNP Paribas' stake to 51% over the next three to five years. Gide Loyrette Nouel represented BNP Paribas. Baker & McKenzie...