Latest news
-
EQUITIES: W900bn Woori Finance Block Mandated To Four Banks
-
EQUITIES: Up To W900bn Hynix Selldown Launched
-
EQUITIES: Minzhong Files Preliminary IPO Prospectus
-
EQUITIES: Two Companies Launch Hong Kong IPOs
-
EQUITIES: Khazanah Launches M$400m Selldown In Malaysia Airports
-
EQUITIES: Man Wah Launches HK$3.4bn IPO
-
EQUITIES: Australia's Largest IPO Of 2010 Mandated
-
EQUITIES: Two Hired For CIMB's Thailand Dual-Listing
Is the price right for Shouguang’s HK listing?
China Shouguang Agricultural Product Logistic Park, an agricultural products market operator, has set itself a tall ask on its proposed Hong Kong IPO given the terms of its recent US$600m pre-IPO financing.
Mega QR National IPO breathes life into Aussie ECM
After a dull start to the year, primary issuance activity in Australia is getting a much needed shot in the arm with QR National appointing bookrunners for its estimated A$4.2bn–$5.25bn (US$3.8bn–$4.8bn) IPO that is set to be the country’s biggest public offering in 2010.
-
Cancellation of AIA’s jumbo listing hits SEHK
-
Zhongsheng stuns market with steep valuation
-
Rusal share slide casts doubt on Russia Inc’s HK listing prospects
-
Volatile markets force Indian government to change tack on divestment process
-
Malaysian IPO downsized on price sensitivity
-
Asian airlines shed excess baggage ahead of equity fundraisings
-
Demand-led pricing takes hold for A-shares
-
Malaysia’s JCY looks to defy market rout
Follow-ons
Charity begins at home for banks on Indian state selldowns
Bookbuilding on Indian state-owned miner NMDC’s Rs99.6bn–Rs116.2bn (US$2.18bn–$2.55bn) follow-on began with a muted response last week – though this was not surprising considering the measly fees the Indian government was paying the six bookrunners on the deal. Observers are now blaming the Indian government’s stinginess on fees for the limited success of its privatisation programme this year.
Government stake sales to make ECM space busier
The Indian ECM space is set to get busier with government disinvestments in key state-run companies expected to hit the markets starting in the next few weeks. State-run power firm NTPC is expected to launch its up to US$2bn follow-on offering first later this month or early February via leads Citi, JP Morgan, Kotak and ICICI Securities. The Indian government will be looking to sell 5% of its 89.5% stake in NTPC.
Equity-Linked
Ascendas pioneers CB with CMBS characteristics
Necessity is the mother of invention and Singapore’s REIT sector is fast turning out to be a laboratory for capital markets instruments that push boundaries. Last week, Ascendas REIT raised S$300m (US$215m) through a path-breaking CB that could become a harbinger for more issuance to follow from the beleaguered S-REIT sector.
-
Third time lucky for buyers of Vedanta CB
-
Beleaguered Suzlon goes back to CB restructuring table
-
CB rules amendment provides relief to Indian issuers
-
BOC’s Rmb40bn deal to transform China CB market
-
Controversy dogs Jaiprakash Power Ventures’ CB debut
-
Ambitious Hon Hai eyes mega CB
-
Far East Consortium sets the ball rolling for Asian equity-linked
-
Back to the future: UMC revives negative-yield structure
-
Vincom establishes offshore presence with record CB
Rights Issue
Asian airlines shed excess baggage ahead of equity fundraisings
Planned equity raisings by two Asian airlines that have struggled with mountainous debt in recent years are yet another indication of the market’s recovery. Indonesian state-owned airline Garuda is in the final stages of a US$760m debt restructuring following which it will launch a US$300m IPO, while Thai Airways intends to raise up to Bt25bn (US$755m) via a rights offer.
-
Ride of the Bakries: Resources group plans US$1.3bn equity raising
-
CMB’s A/H rights offer hits regulatory and arbitrage snag
-
Not enough
-
Flight rights
-
Bank rights possible
-
Prudential secures rights’ success through a Hong Kong listing
-
BoCom mandates 14 banks
-
CMB launches rights
-
Intiland builds capital