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Thursday, 18 July 2019

Jasmine Broadband Fund plans Bt25bn rights in Q4

18 July 2019 By S Anuradha

Thailand’s Jasmine Broadband Internet Infrastructure Fund plans to launch a rights share offer of up to Bt25bn (US$807m) in the fourth quarter, a person with knowledge of the transaction has said.

Bank of Zhengzhou eyes Rmb6bn private A-share placement

Bank of Zhengzhou eyes Rmb6bn private A-share placement

18 July 2019

Shenzhen and Hong Kong-listed Bank of Zhengzhou plans to raise Rmb6bn (US$872m) from a proposed private placement of A-shares.

India's Ask Investment puts Rs10bn IPO on hold

India's Ask Investment puts Rs10bn IPO on hold

18 July 2019 By S Anuradha

Indian wealth management firm Ask Investment Managers has put a Rs10bn (US$145m) IPO slated for later this month on hold, sensing weak investor sentiment, people with knowledge of the transaction said.

Second Indian rating agency puts CEO on leave

Second Indian rating agency puts CEO on leave

18 July 2019

India’s Care Ratings has put it managing director and chief executive on leave after the market regulator received an anonymous complaint, according to a release from the rating agency.

MOVES-HSBC nabs loans banker in China from StanChart

MOVES-HSBC nabs loans banker in China from StanChart

18 July 2019

HSBC has hired Zuocheng Ding from Standard Chartered as head of loan origination for China.

CSRC approves registrations of three Shanghai tech board candidates

CSRC approves registrations of three Shanghai tech board candidates

18 July 2019

The China Securities Regulatory Commission has approved the IPO registration applications of three Shanghai tech board candidates that plan to raise a combined Rmb3.15bn (US$458m).

'Blink blink nod nod': IPO bribery case heads for trial

'Blink blink nod nod': IPO bribery case heads for trial

18 July 2019 By Thomas Blott

Former JP Morgan banker Catherine Leung pleaded not guilty on Thursday to charges that she bribed the chairman of Kerry Logistics Network in an attempt to win a role on a Hong Kong IPO.

Elders raises A$100m from insto rights, placement

Elders raises A$100m from insto rights, placement

18 July 2019 By Candy Chan

Elders, an Australian provider of agricultural support services, has raised A$100m (US$70m) from a 1–for–6.7 institutional rights offer and a placement to purchase a wholesaler serving independent rural retail stores.

CapitaLand Commercial Trust raises S$220m from placement

CapitaLand Commercial Trust raises S$220m from placement

18 July 2019 By S Anuradha

CapitaLand Commercial Trust has raised S$220m (US$162m) through the sale of 105m new shares at S$2.095, according to a term-sheet.

Iflytek raises Rmb2.9bn from private placement

Iflytek raises Rmb2.9bn from private placement

17 July 2019

Chinese software and IT services provider Iflytek has raised Rmb2.93bn (US$426m) from a private placement of 108m A-shares, or 5% of its enlarged capital, at Rmb27.10 per share to ten investors.

All Latest news

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Top Stories from this week's IFR Asia magazine

Released online
Friday 1600 Hong Kong / Friday 0900 London

Return on equity

IFR Asia 1098 - July 13, 2019

Deutsche Bank’s exit from the Asian equity market raises a familiar question that has plagued international banks since the global financial crisis. Can a global bank ever make money in Asian equities?

Welcome to the party

IFR Asia 1098 - July 13, 2019

India’s bond bankers finally have something to celebrate, and it has nothing to do with cricket.

India’s offshore debut comes with risks

India’s offshore debut comes with risks

IFR Asia 1098 - July 13, 2019

The Republic of India has set ambitious targets for its long-awaited debut in the US dollar bond market as it seeks to ease pressure on the domestic market.

APRA dials down capital demands

APRA dials down capital demands

IFR Asia 1098 - July 13, 2019

Australia’s prudential regulator has scaled back a proposed capital increase for the country’s four biggest banks following criticism of its original plan.

Japan’s lending woes deepen

Japan’s lending woes deepen

IFR Asia 1098 - July 13, 2019

Japanese banks will continue to target more complex financings and overseas loans to boost profitability, as a looming US rate cut is expected to extend the country’s negative interest rate policy.

1098 Vietnam banks venture offshore

Vietnam banks venture offshore

IFR Asia 1098 - July 13, 2019

Vietnamese banks are expected to turn to the offshore market to fill a multi-billion-dollar capital gap by the end of this year, with roadshows for the first deal already underway.

Free float plan goes down badly

Free float plan goes down badly

IFR Asia 1098 - July 13, 2019

Investors and corporate leaders have poured cold water on the Indian government’s proposal to raise the minimum free float requirement for all listed companies, warning of a liquidity flood and loss of executive control.

Megabank bonds find ample demand

Megabank bonds find ample demand

IFR Asia 1098 - July 13, 2019

Japan’s megabanks found ample demand when they came to the offshore bond market, printing US$13.75bn of paper last week.

UOB resets AT1 benchmark

UOB resets AT1 benchmark

IFR Asia 1098 - July 13, 2019

United Overseas Bank returned to the Singapore dollar market in style on Wednesday, selling S$750m (US$535m) of perpetual non-call seven securities at 3.58% – the lowest yield on record for a Basel III-compliant Additional Tier 1 issue in Singapore.

Tianjin flop reveals LGFV fears

Tianjin flop reveals LGFV fears

IFR Asia 1098 - July 13, 2019

Tianjin Binhai New Area Construction & Investment Group was forced to postpone a three-year US dollar bond on Thursday after concerns over the finances of its local government parent led to a rare snub from international investors.

Tech board hopefuls put on notice

Tech board hopefuls put on notice

IFR Asia 1098 - July 13, 2019

Chinese regulators have issued a stern warning to companies applying for a tech board listing and their intermediaries that they will incur heavy penalties if they are found to have made false statements.

Panasonic ends 20-year US hiatus

Panasonic ends 20-year US hiatus

IFR Asia 1098 - July 13, 2019

Panasonic sold its first bond in the US in at least 20 years as the Japanese industrial company looks to establish a US curve.

Deutsche takes equity exit route

Deutsche takes equity exit route

IFR Asia 1098 - July 13, 2019

Deutsche Bank is to close its equities trading and underwriting businesses in Asia Pacific as part of the German lender’s plan to cut 18,000 jobs at the corporate and investment bank over the next three years.

High-flying Grounds to leave UBS

High-flying Grounds to leave UBS

IFR Asia 1098 - July 13, 2019

UBS is bidding farewell to its Australian star banker Matthew Grounds, who is leaving the Swiss giant after a stellar 25-year career including 11 years as CEO for Australia and New Zealand.

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Deutsche takes equity exit route

Deutsche takes equity exit route

IFR Asia 1098 - July 13, 2019

Deutsche Bank is to close its equities trading and underwriting businesses in Asia Pacific as part of the German lender’s plan to cut 18,000 jobs at the corporate and investment bank over the next three years.

High-flying Grounds to leave UBS

High-flying Grounds to leave UBS

IFR Asia 1098 - July 13, 2019

UBS is bidding farewell to its Australian star banker Matthew Grounds, who is leaving the Swiss giant after a stellar 25-year career including 11 years as CEO for Australia and New Zealand.

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Rehabilitated roads under the Emergency Flood Recovery Project and Flood Rehabilitation Project in Fiji. The projects are helping build damaged infrastructure and revive economic activity in rural areas that were badly affected by floods in January 2009.

IFR Asia Asian Development Bank Roundtable 2019: Mobilising markets for sustainable infrastructure

Sustainable infrastructure was high on the agenda at this year’s Asian Development Bank annual meetings in Fiji, where climate change and ocean health have a pronounced impact on everyday life. The capital markets are also showing a growing interest in sustainable development, but Asia is still a long way from harnessing the market’s full potential.

More Special Reports

IFR Asia Asian Development Bank
Sustainability is a key concern for Fiji, the host of this year’s Asian Development Bank annual meetings. Its low-lying outer islands are under threat from rising sea levels as a result of climate change, and ocean plastics and overfishing are a growing risk to its revenues.

IFR Asia Outlook for Asian Credit Roundtable 2019
The skies have cleared, and Asian credit is on a roll. After the end of 2018 produced one of the stormiest periods in years, the retreat of major headwinds has helped cement a solid backdrop for Asian bonds at the start of 2019. The US Federal Reserve has slammed the brakes on monetary tightening, trade tensions have subsided for now, and market stability has become a top priority for China as it wrestles with deleveraging its economy.

IFR Asia IMF/World Bank 2018 Roundtable
Delegates at the IMF’s annual meetings in Bali got an uncomfortable reminder of Asia’s vulnerability to unforeseen shocks with an earthquake in the small hours of October 11. The financial markets have been doing their part, too.

IFR Asia RMB Bonds Roundtable 2018
Onshore renminbi bonds are poised to become the next big thing in the global capital markets, as international investors brace for index inclusion and issuers embrace the Panda bond market as an alternative source of funding. While China has rolled out the red carpet, however, international participants appear to be holding back.

IFR Asia Belt & Road Financing Roundtable 2018
Almost five years since Chinese President Xi Jinping outlined his vision for a massive infrastructure programme to strengthen China’s trading connections, the Belt and Road initiative is beginning to make its presence felt in Asia’s financing markets.

IFR Asia Green Financing Roundtable 2018
When Green finance first hit the market, there were high hopes that issuers raising funds in such a way would benefit from improved pricing, given the increased transparency and forecast growth in demand from investors.