Americas

Cango, a Chinese online marketplace for vehicle sales, has started bookbuilding for its $150m IPO on the New York Stock Exchange.

The Financial Stability Board (FSB) on Monday laid out a framework to oversee the financial stability risks posed by the cryptocurrency market. However, the body warned that some public data could be “manipulated” due to “prohibited practices such as wash trading, spoofing and pump and dump”.

Brazilian issuers continue to focus mostly on liability management rather than new debt raising as a combination of weak conditions and looming presidential elections makes timing new deals difficult.

Frontier markets specialists Exotix Capital has made four new appointments to its EM sales business, expanding its coverage in four different geographies.

Chinese firm Aurora Mobile, also known as Jiguang, has kicked off the roadshow for its up to $126m Nasdaq IPO.

Opera, the internet browser, is marketing its $115m Nasdaq IPO at a substantial discount to comparable web browsers in China and Russia.

Brazilian utility Cemig ended a three week hiatus in offshore Latin American bond issuance this week and was swiftly followed by the Dominican Republic as the two high yield borrowers raised a combined $1.8bn.

Chilean utility AES Gener will buy back $200m of old bonds after investors pledged to sell more than the maximum purchase amount that the company had set before the early bird deadline of July 11.

FCoin, a huge new cryptocurrency exchange by volume, is only two months old and was virtually unknown up until it brought the network of the second largest cryptocurrency in the world to a standstill and made a lot of people very angry.

Bank of Montreal made the most of US earnings blackouts and re-opened the dollar market this week with a $2.25bn deal amid improving market conditions.

Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.

Equity investors have endured a volatile year with numerous geopolitical shocks leading to falls in markets and sapping confidence. But now they are positioning for the previously unimaginable, a trade war between the world’s two largest economies and all the ramifications that will follow, writes Sam Kerr.