Asean

Vietnam is giving a fillip to transparency around IPOs of state-owned companies, passing a new law that will allow firms that are being privatised to conduct a public bookbuilding. While a step in the right direction, the effect of the law is still being debated, with many problems yet to be overcome, writes Jonathan Breen.

Charoen Pokphand Foods (CPF) has brightened up Thailand’s offshore syndications market, tapping international liquidity for a $625m loan. With few other deals from the southeast Asian country whetting lenders’ appetite, banks are keen to take a piece of the fundraising. Shruti Chaturvedi reports.

Indonesian power producer Paiton Energy sweetened the dual-tranche bond and loan combo it sold in August by adding a $100m tap to the bonds this week, extending its debt maturity profile.

Short selling is crucial to the development of China’s equity market, especially in attracting greater foreign participation, Lyndon Chao, head of equities and post trade at the Asia Securities Industry & Financial Markets Association (Asifma), told GlobalRMB.

Indonesian power producer Paiton Energy returned to the international debt market on Monday to add another $100m to its August bonds, in a bid to extend its debt maturity profile.

The Republic of Indonesia grabbed $4bn on Monday from its first SEC-registered bond, pricing all the three tranches within its curve while also diversifying its investor base.

Myanmar’s TMH Telecom Public Co is preparing to launch an IPO on the Yangon Stock Exchange, which will make it the fifth listing on the budding bourse.

CPF Investment, a unit of Thai firm Charoen Pokphand Foods (CPF), has approached the syndicated loan market for a $625m borrowing.

The Republic of Indonesia is back for its fourth outing in the international debt market this year. But the sovereign is offering something a little different to investors this time around, taking bids for its first SEC-registered bond.

Vietnamese state-owned firm PetroVietnam Oil Corp (PV Oil) is planning to sell 20% of its shares in an IPO in January 2018, according to a Friday statement.

Global investors piled into Indonesian toll road operator Jasa Marga’s debut offshore rupiah bond on November 30, as the issuer raised Rph4tr ($296.1m) in a deal that opened up a new asset class.

The Philippines postpones its Panda bond deal as it awaits approval from China’s central bank, Hong Kong Exchanges and Clearing (HKEX) opens its first office in Singapore, and the renminbi falls to seventh place in the league table of the world’s most used payments currency in October.