Latest news
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EQUITIES: AIA finalises bookrunners for HK IPO
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EQUITIES: Intiland block sale raises Rp1.11trn
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EQUITIES: Banpu raises Rp3.56trn from ITMG block
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EQUITIES: Xingda launches up to HK$793m follow-on
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EQUITIES: Fortis Mulls US$1bn Singapore listing
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EQUITIES: ICBP IPO aims to raise up to Rp6.4trn
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EQUITIES: Harum Energy begins investor education
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EQUITIES: Sino-American Silicon raises US$200m via GDR
Magnificent 17? Hong Kong braces for IPO onslaught
At least 17 companies are lining up to launch Hong Kong listings in September, with the deals to be worth a combined US$8.5bn. The many deals will test the limits of the city’s IPO market, but come amid signs of improving sentiment towards new equity offerings.
Microfinance listing fever builds as debate continues
Two Indian microfinance institutions (MFIs) are looking to follow the hugely popular IPO of SKS Microfinance, adding to the ethical debate about the future of the industry.
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Trony Solar prepares to warm hearts of Hong Kong investors
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Flexible India changes IPO rules for Coal India float
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MakeMyTrip soars on debut as investors flock to US IPO
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Engineers India, SKS revive retail interest in Indian equity
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Mingyang sails close to the wind with US IPO plan
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Game on for MGM listing after HSBC decides to fold
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Scaled-back Indonesian IPOs trigger rethink on funding
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Rongsheng to test IPO waters with scaled-down transaction
Follow-ons
OUE placement, CB succumb to choppy markets
Volatile markets forced Singapore property developer and operator Overseas Union Enterprise to put on hold an up to S$200m (US$143m) CB last week. A secondary selldown by the company’s major shareholder also fell victim to the market conditions and was downsized by about 40%.
Second-largest TDR
Singapore-listed Chinese shipbuilder Yangzijiang Shipbuilding opened books for its Taiwan depositary receipts on August 26. The company aims to raise up to NT$4.56bn (US$142.4m) through the sale of 240m TDRs at an indicative price range of NT$17–$19 each. The offering is the second-largest TDR issuance in Taiwan after the US$532m deal of Hong Kong-listed Tingyi, the biggest food and beverage firm in terms of market value in China, last December.
Equity-Linked
Wockhardt CB restructuring boosts confidence in India
The end to a year-long stalemate between Indian pharma company Wockhardt and a group of convertible bond investors has proven that a successful restructuring is possible in India’s debt markets.
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Home strait: End in sight for Hon Hai convertible bond saga
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Sino-Ocean sets new course with a debut perpetual CB
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Banks flock to Taiwan for jumbo CB mandates
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OUE placement, CB succumb to choppy markets
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Huge CB redemption pressure set to stress Indian issuers again
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Suzlon completes arduous CB restructuring saga
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Hynix CB: from hell to heaven
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Jumbo CB arrives
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Rare triple combo lures equity investors to Chaoda
Rights Issue
BOC wins nod
Shareholders of Bank of China, the mainland’s third-largest lender, have approved its proposed rights issue plan. BOC said earlier it was looking to raise not more than Rmb60bn through the sale of 27.92bn rights shares (19.56bn A-shares and 8.36bn H-shares) on a 1.1-for-10 basis. The rights price has yet to be determined, but the subscription prices for the A- and H-shares will be the same after the exchange-rate adjustment.