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  • Ant makes history with $34bn listing on HK, Star exchanges

    IPOs

    Ant makes history with $34bn listing on HK, Star exchanges

    Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

  • CLOs ditch riskiest tranche as markets widen

    CLOs

    CLOs ditch riskiest tranche as markets widen

    The ‘normalisation’ of the CLO market has stalled, with spreads for single-B tranches now at levels where issuing makes little sense, pushing many managers to retain these notes or print lower levered deals.

  

  

People & Markets

  • ECM fees triple at Credit Suisse

    ECM fees triple at Credit Suisse

    Fee growth from Credit Suisse's equity capital markets business supported its newly established investment bank, its third quarter results on Thursday showed.

  • Deutsche's investment bank makes almost €1bn, again

    Deutsche's investment bank makes almost €1bn, again

    Deutsche Bank's fixed income and currency bankers continued a strong run in the third quarter, the firm's results on Wednesday showed. Profit before tax at the investment bank has now been enough to cover losses from the capital release unit for two consecutive quarters.

  • Credit business shines as HSBC vows to speed up change

    Credit business shines as HSBC vows to speed up change

    HSBC's credit and equities business lines were the standout performers in the global banking and markets division (GBM) in the third quarter, the bank's results showed on Tuesday. Meanwhile, group chief executive Noel Quinn said the firm was adapting its business model to chronic low interest rates.

  • Covid-19 equity raises could be subject of litigation

    Covid-19 equity raises could be subject of litigation

    Companies raising equity in the UK this year — amid a very uncertain outlook for business prospects — may risk opening themselves up to claims related to the information they disclose or do not disclose, according to lawyers at Herbert Smith Freehills.

  • What better time to expand the IFFIm model

    Take advantage of low borrowing rates to enact ambitious social programmes. That is economists' message to governments in the developed world right now. The message could also apply elsewhere.

  

Southpaw
by David Rothnie

Asia