Asean

Indonesia’s Wijaya Karya Realty is building books until mid-next week for an IPO of as much as Rph3.2tr ($230m).

Indonesian company Surya Pertiwi has raked in Rph1.25tr ($90m) after pricing its IPO at the bottom of the range, according to a banker close to the deal.

The Singapore equity capital market was hit by some unpleasant news this week when a pair of IPOs were shelved in quick succession. The move drew mixed responses from bankers, with one saying it highlights the city’s dwindling appeal as a listings hub, and others promising a busy year ahead for equity raising. John Loh reports.

The benchmark US Treasury 10 year yield moved through the 3% level this week, creating what some say was unnecessary panic in the market. That was clearly reflected in the dollar bond issuance in Asia, with some borrowers ploughing ahead with well-received 10 year transactions and others ditching the tenor altogether. Addison Gong reports.

Techcombank priced Vietnam’s largest ever IPO this week at the top of guidance, raising D21tr ($922m).

Mapletree Greater China Commercial Trust Management has raised S$330.3m ($248.8m) after selling a block of new units to help fund the purchase of Japanese assets.

Pelabuhan Indonesia III, also known as Pelindo III, raised $500m from a single tranche five year bond on Tuesday after scrapping a 10 year portion that was also marketed.

Central China Real Estate was back in the offshore debt market on Tuesday with a Singapore dollar deal, just a week after sealing a US dollar bond.

A repricing in the Indonesian high yield dollar bond market on Monday took a toll on property company Bumi Serpong Damai (BSD), which had to navigate numerous hurdles to push a $250m deal over the finish line.

Summit Power International’s hopes to be the first Bangladeshi issuer to list in Singapore have fizzled out after its $260m IPO was withdrawn.

Vietnamese real estate developer No Va Land Investment Group pulled off the combined sale of a convertible bond and top-up share placement last week. The success of the hybrid fundraising structure means other potential issuers in the region should give it a close look.

Cambodia’s Prasac Microfinance Institution has launched a $50m three year term loan with a $50m greenshoe option into syndication.