Italy’s Banca Esperia, Banca Mediolanum and Mediobanca’s private bank, has partnered with CreditAccess Asia NV to issue IPO Incentive Bond, a bond meant to get the Asian-investing company’s IPO plans underway.
CreditAccess Asia NV is an industrial operator working on behalf of Indian and south-east Asian companies specialised in craftsmanship and micro-entrepreneurship .
Since its issuance, the bond has reached its target AUM by posting €40m. The bond subscribers will access an annual dividend of 6.5% and will have the opportunity of buying more shares when the company will go public in 2017 with a 20% discount.
“The focus on the south-east Asian countries seeks to achieve geographic diversification in investor portfolios. The exposure to the craftsmanship and micro-entrepreneurship sectors, which do not normally have access to the local banking system, seeks to widen growth opportunities for investors,” Banca Esperia said.