Asean

Maybank is on the lookout for a new investment banking CEO after John Chong Eng Chuan was picked to run its retail banking arm.

The Singapore and Israel bourses have signed a pact aimed at spurring dual listings of technology and healthcare companies.

Vingroup spun off its real estate arm, Vinhomes, in a D30.7tr ($1.35bn) equity offering this week, stunning the market with the largest listing in Vietnam’s history and in Asia this year. The spotlight has turned to the company’s use of a novel private placement-style structure that is fast becoming popular in the country. Jonathan Breen reports.

A pair of Singapore Reits came to the equity market this week to raise funds for acquisitions, pocketing S$779.1m ($581.0m) between them.

Vietnamese conglomerate Vingroup is on course for a second spin-off using a novel private placement-style structure, after pricing Vinhomes’ D30.7tr ($1.35bn) listing this week. The structure offers a tempting route for potential issuers in the country’s unpredictable equity market.

Keppel DC Reit’s overnight share sale to raise S$303.1m ($227.6m) was more than two times covered, according to the company.

Indomobil Finance Indonesia has returned to the offshore loan market for a new $100m borrowing, according to a banker invited to participate in the deal.

Real estate developer Vinhomes priced its D30.7tr ($1.35bn) listing at the top of guidance on Monday in Vietnam’s largest equity offering to date, according to a banker on the transaction.

Keppel DC Reit opened books on Monday morning for an accelerated bookbuild worth S$303.1m ($227.6m), as it seeks equity funding to pay for an acquisition.

Indonesian financial services company MNC Investama raised $231m from an exchange and new money offering on Thursday, but the market backdrop and aggressive pricing made it difficult for the firm to add much to the new money portion.

Hyosung Vina Chemicals, which launched a $1bn loan last month for capital expenditure related to chemical plants in Vietnam, has cancelled the fundraising. Its new Vietnamese unit is still pending the government’s approval for incorporation, according to a South Korea-based banker close to the deal.

Sarimelati Kencana, the Indonesian Pizza Hut owner, sold shares at the low end of its IPO guidance range amid adverse market conditions, raising Rph1tr ($73.5m) on Thursday.