Open the box (TT Jun09 p36-38)

A cashbox equity placing can be carried out by a company (the issuer) that wants to raise equity capital by a placing of shares in the market. Historically, cashbox placings were used only to raise equity funds to finance or refinance an acquisition but now they are more commonly used for pure cash raising where circumstances permit. They are usually conducted through an accelerated bookbuild by an investment bank, but can be structured directly with a strategic investor without the need for an investment bank. In this article we assume that a broker is involved.

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