Top Stories from this week's IFR Asia magazine
Saturday 0800 Hong Kong / Friday 0000 London
Holders of Development Bank of Mongolia’s US dollar bonds have won a last-minute reprieve, thanks to the country’s agreement with the International Monetary Fund. Both sides are riding their luck.
It’s not often that Hong Kong’s securities regulator halts trading in a particular stock, let alone one that had only been trading for a matter of hours.
Mongolia is set to return to the US dollar bond market this week, after reaching a US$5.5bn funding agreement with the International Monetary Fund on February 19.
A clampdown on private share placements sent a shockwave through China’s equity market last week, threatening follow-on offerings worth at least Rmb32bn (US$4.65bn).
Hong Kong’s securities regulator last Wednesday halted trading in GME Group shares just hours after its debut, intensifying a crackdown on IPOs that fail to attract a broad investor base.
HSBC Holdings plans to issue about US$30bn of loss-absorbing debt this year, in line with the US$31bn sold in 2016.
An Indian state has tried a new structure to rebalance the debt of its struggling power distribution companies, setting a new template for other regions to follow as they seek a lasting solution to the financial troubles of electricity boards.
Australian gas and electricity utility Alinta Energy has begun premarketing a A$2bn (US$1.5bn) IPO, less than three months after pulling an earlier try due to market turbulence after the US elections.
Longfor Properties last week printed the first Green paper from a developer in China’s interbank bond market, joining a fast-growing pack of issuers even as uncertainties remain over the market’s long-term prospects.
Commerzbank reopened the Singapore dollar market for overseas lenders last week with a Tier 2 issue that attracted a diverse pool of investors.
Overwhelming demand for the A$12.777bn (US$9.85bn) loan backing the acquisition of Australian energy distributor AusGrid has raised expectations for secondary market activity.
United Overseas Bank last week became the first Asian issuer to sell covered bonds in two currencies simultaneously, as it returned to the market after its debut last year.
Indian state-owned companies will have just under six months to launch their IPOs once plans are agreed, under a new government guideline designed to end perennial privatisation delays.
The Australian Office of Financial Management smashed numerous records last Wednesday with a giant fundraising that showed the Commonwealth government has no problems plugging the country’s budget deficit.
Shanghai-listed Guotai Junan Securities has taken on Shenzhen Energy Group as a cornerstone investor for its Hong Kong share sale of about US$2bn.
Bain Capital has raised A$355m (US$273m) through the sale of a block of shares in Australian software company MYOB.
HSBC has appointed Terence Chiu as head of commercial banking in Hong Kong, according to a press release from the bank.
Avenue Supermarts, the owner of the DMart supermarket chain, will launch its Rs18bn IPO on March 8. Books will close on March 10.
Macquarie Atlas Roads has raised A$185m (US$142m) from a placement of shares slated to part-fund the acquisition of the remaining 50% of the Dulles Greenway toll road outside Washington DC for US$445m, according to a company statement.
Baby formula maker Feihe International, which delisted from the US in 2013, is considering listing in Hong Kong as early as this year.
A six-bank group is tipped to win the mandate on the government of Sri Lanka’s loan of up to US$1bn, although lenders from a competing group may well be added to the financing.
A share placement of US$200m–$300m in Indonesia’s Sarana Menara Nusantara is likely be launched towards the end of the second quarter.
Glenn Morgan has been named head of equities for Australia at Deutsche Bank, a person familiar with the matter has told IFR.
BlackRock has made two hires in Australia with Stuart Dunn joining as head of wealth distribution for the northern region and Linda Kang coming aboard as lead research relationship manager, according to a press release from the asset manager.