Credit Suisse lowers hurdle to redeem delisted oil ETNs
NEW YORK, Dec 9 Credit Suisse on Friday said it would reduce the minimum redemption amount of two popular exchange-traded notes, used to bet on the price of oil, from 25,000 to 500.
Oct 4 A secondary offering of shares in Lions Gate Entertainment Corp by affiliates of billionaire investor Carl Icahn has been put on hold due to poor market conditions, a source with direct knowledge of the process said.
Icahn, who waged a lengthy battle for control of the Hollywood studio, agreed in August to sell his stake, and he and his son Brett were due to offload up to 44 million Lions Gate shares.
Under that sale agreement, Lions Gate and MHR Fund Management, controlled by director Mark Rachesky, bought 11 million shares each from Icahn.
The offering, of 19.2 million of the remaining shares, had been expected to price this week, according to a filing with regulators by Lions Gate.
The source asked not to be identified as he was not authorised to talk to the media.
The delay comes at a time when the U.S. IPO market has stalled amid concerns about Europe's debt crisis and a weak domestic economic recovery. Several offerings have been withdrawn in recent months.
Lions Gate shares were flat at $6.84 on Tuesday on the New York Stock Exchange. (Reporting by Brenton Cordeiro in Bangalore, additional reporting by Jochelle Mendonca, Editing by Ian Geoghegan)
* Morgan Stanley reports 10.4 percent passive stake in Shake Shack Inc as of Nov 30 - sec filing Source text - http://bit.ly/2hfZJan Further company coverage:
(Adds positioning in refined products, milestone in ULSD net longs) By Devika Krishna Kumar NEW YORK, Dec 9 Hedge funds rushed to place bullish wagers on U.S. crude oil, data showed on Friday, after the world's largest producers agreed to curb output for the first time since 2008 in an effort to rein in a glut and support prices. The speculator group raised its combined futures and options position in New York and London by 86,085 contracts to 275,763 in the week to D