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Friday, 21 July 2017

Sebi FPI quota rules to hurt Masala, renewable bond pipeline

21 July 2017 By Daniel Stanton,

New Indian regulatory guidelines on the utilisation of corporate bond limits for foreign investors will completely halt Masala bond issuances in the near term and hurt the renewable energy deal pipeline out of India, market sources have said.

NSE seeks settlement of unfair access issue

21 July 2017 By S Anuradha

National Stock Exchange is seeking a settlement with the Securities and Exchange Board of India over allegations that it gave unfair access to some trading members.

Shandong Gold plans Hong Kong IPO

21 July 2017

Shandong Gold Mining has secured board approval to issue H-shares on the main board of the Stock Exchange of Hong Kong.

Tissue Gene plans W100bn KRX IPO

20 July 2017

US biopharmaceutical company Tissue Gene is planning a KRX IPO that could raise at least W100bn (US$89m), according to a source with knowledge of the deal.

Bank Mandiri first-half net profit up 34%

20 July 2017

(Reuters) Bank Mandiri, Indonesia’s largest bank by assets, reported a 34% rise in first-half net profit, supported by an increase in fee-based income.

Trafigura pays same as last year for US$1.5bn loan

20 July 2017 By Chien Mi Wong

Commodity trader Trafigura Beheer has obtained the same pricing on its latest US$1.5bn-equivalent multi-tranche financing as it did on last year’s visit.

Godrej Agrovet files for Rs13bn IPO

20 July 2017 By S Anuradha

Indian animal feed maker Godrej Agrovet has filed the draft prospectus for a Rs10bn–Rs13bn (US$155m–$200m) IPO and is targeting a fourth quarter launch.

MOVES-Arab Banking Corporation appoints new Asia head

20 July 2017

Bahrain-headquartered Arab Banking Corporation has appointed Patrick Tan general manager of its Singapore branch and head of Asia.

COSCO Shipping files for Rmb8.6bn private placement

20 July 2017

COSCO Shipping Development, formerly China Shipping Container Lines, has applied to the China Securities Regulatory Commission for a proposed private share placement of up to Rmb8.6bn (US$1.27bn).

Khazanah block in CIMB fetches M$571m

20 July 2017 By S Anuradha

Malaysian state-owned investment firm Khazanah Nasional has raised M$571m (US$133m) from the sale of a block of 90.5m CIMB Group Holdings shares.

All Latest news

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Top Stories from this week's IFR Asia magazine

Released online
Saturday 0800 Hong Kong / Friday 0000 London

Two decades of growth

IFR Asia 1000 - July 15, 2017

When IFR Asia launched in 1997, China and Hong Kong were Asia’s biggest markets for equity issuance. Two decades and 1,000 magazines later, China still leads the way, but other countries have struggled to keep up with the pace.

Yard sale

IFR Asia 1000 - July 15, 2017

China loans, anyone? China Citic Bank International’s clean-out of US$2.8bn from its loan book would be a neat entry point for any investor looking for exposure to offshore Chinese credit. But if Chinese banks are selling, who’s buying?

Hongqiao calls off onshore issue

Market digests China HY glut

IFR Asia 1000 - July 15, 2017

High-yield investors brushed aside concerns of oversupply in the Chinese property sector to welcome four more issuers last week, underlining the depth of demand there.

CITIC bank's advertisement poster for currency exchange is seen at its branch in Beijing.

Citic Bank puts up for-sale sign

IFR Asia 1000 - July 15, 2017

China Citic Bank International has put the spotlight on mainland lenders’ risk-management tactics with a move to sell a loan portfolio totalling more than US$2.8bn in the secondary market.

Dual-currency first for Jakarta

Dual-currency first for Jakarta

IFR Asia 1000 - July 15, 2017

The Republic of Indonesia printed its first dual-currency sovereign benchmark last Tuesday, making its first visit to the US dollar and euro bond markets since it earned its third investment-grade rating.

The logo of CNPC (China National Petroleum Corporation) is pictured at the 26th World Gas Conference in Paris.

CNPC sugar-coats record EB

IFR Asia 1000 - July 15, 2017

China National Petroleum Corp is going out of its way to make a record Rmb10bn (US$1.47bn) sale of exchangeable bonds irresistible to investors after recent regulatory changes raised the bar on major share disposals.

SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo.

SoftBank perps set record

IFR Asia 1000 - July 15, 2017

SoftBank set a global record in the hybrid capital market with a US$4.5bn two-tranche perpetual that tapped into demand for higher returns.

Hongqiao calls off onshore issue

Hongqiao calls off onshore issue

IFR Asia 1000 - July 15, 2017

China Hongqiao Group, the country’s largest aluminium producer, cancelled plans for a Rmb10bn (US$1.47bn) onshore perpetual bond last week, highlighting its refinancing challenges amid a continued delay in the publication of its 2016 results.

Kolao explores Thai debut

Kolao explores Thai debut

IFR Asia 1000 - July 15, 2017

Kolao Holdings, the biggest automotive dealer in Laos, is exploring a potential bond issue in Thailand, highlighting the appeal of the kingdom’s financial market as a regional funding hub for Indochina.

PTTEP cuts costs with new perps

PTTEP cuts costs with new perps

IFR Asia 1000 - July 15, 2017

PTT Exploration and Production has printed a US$500m corporate hybrid as part of an unusual liability management transaction that will result in big savings for the issuer.

H-share issuers gain leeway

H-share issuers gain leeway

IFR Asia 1000 - July 15, 2017

China is giving H-share companies more flexibility on the timing of their follow-on offerings in a move that could encourage more issuers to sell shares in the public market.

SoftBank Group Corp Chairman and CEO Masayoshi Son attends a news conference in Tokyo.

Celltrion keeps Korean ECM ticking

IFR Asia 1000 - July 15, 2017

South Korea’s buoyant equity capital markets look set for a further boost from the W1trn (US$883m) listing of biopharmaceutical distributor Celltrion Healthcare.

Cautious investors await NetLink debut

Cautious investors await NetLink debut

IFR Asia 1000 - July 15, 2017

Bankers defended the lower-than-expected pricing for broadband provider NetLink NBN Trust last week after a cautious response to Singapore’s largest IPO in six years.

Hong Kong's SFC intervenes on IPOs

Hong Kong's SFC intervenes on IPOs

IFR Asia 1000 - July 15, 2017

The head of Hong Kong’s Securities and Futures Commission last week pledged greater direct intervention in IPO applications under its existing powers after plans to reform the listing process drew widespread opposition.

Welcome to the 1,000th issue of IFR Asia

Welcome to the 1,000th issue of IFR Asia

2017 is a significant year in the history of Asia’s financial markets. It is now 20 years since the devaluation of the Thai baht marked the beginning of a crippling financial crisis that rippled across Asia. It’s also 20 years since Hong Kong returned to Chinese rule, following the handover of the former British colony.

Hong Kong's SFC intervenes on IPOs

Hong Kong's SFC intervenes on IPOs

IFR Asia 1000 - July 15, 2017

The head of Hong Kong’s Securities and Futures Commission last week pledged greater direct intervention in IPO applications under its existing powers after plans to reform the listing process drew widespread opposition.

A security guard walks past a directory board of Hong Kong Monetary Authority (HKMA) in Hong Kong.

HKMA gets new bail-in powers

IFR Asia 1000 - July 15, 2017

The Hong Kong Monetary Authority has been granted sweeping new powers to clean up ailing banks, bringing the city closer to international resolution standards in Europe and the US.

Jonathan Rogers

A toast to 1000 issues of IFR Asia

IFR Asia 1000 - July 15, 2017

IFR Asia’s editor forewarned me last week that this would be the 1000th edition of the publication and I naturally volunteered to write something that would hopefully chime with this auspicious landmark. So here goes.

More Special Reports

IFR Asia Asian Development Bank Roundtable
IFR’s annual ADB roundtable, held as part of the Asian Development Bank’s annual meetings hosted this year by Yokohama, took place at a significant moment. This year marked not just the 20th anniversary of the Asian financial crisis but more importantly perhaps the 50th anniversary of the founding of the Asian Development Bank.

Asian Development Bank
Yokohama is an apt setting for the Asian Development Bank’s 50th anniversary meeting. The Japanese port city was one of the earliest to open to international trade, and one of the first beneficiaries of infrastructure financing that combined public and private resources at home and overseas.

Outlook for Asian Credit Roundtable
The outlook for Asian credit has rarely been brighter. The first quarter of 2017 was a record for international bond issues from Asia, beating the previous three-month record by 25%, and high-yield offerings are booming.

China Securitisation Roundtable
The opening of China’s domestic bond market is the single biggest opportunity in the global fixed income arena today, and securitisation is likely to be among the biggest beneficiaries.

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