Asean

Vincom Retail, a subsidiary of Vietnamese conglomerate Vingroup, has filed for approval to list on the Ho Chi Minh City Stock Exchange, targeting a $600m IPO.

Paper and pulp company APP China is testing investors’ appetite for an unrated dollar bond, about 15 years after its Indonesian parent Asia Pulp & Paper Group defaulted on close to $14bn of debt.

Singapore-based internet company Sea has kicked off pre-marketing for a US listing that could raise up to $1bn, according to a banker close to the deal.

Panda bonds issued by non-red chip foreign names are being snubbed by Chinese investors with a home bias – an opportunity international investors should not overlook, Wilfred Wee, portfolio manager at Investec Asset Management, told GlobalRMB in a wide-ranging interview.

Cromwell European Real Estate Investment Trust has cancelled its potential €738.8m listing on the Singapore Exchange due to market conditions, after first trying to get past the finish line with a smaller offering.

Banque Pour Le Commerce Exterieur Lao Public (BCEL), the biggest state-owned lender in Laos, is set to make its offshore loan debut with a $100m four year facility.

Thai paint producer TOA Paint is looking to raise up to Bt12.2bn ($368.5m) from its IPO, set for the last week of September.

Net FX sales by Chinese bank are down 75% month-on-month in August, an advisor to the People’s Bank of China urges push for renminbi internationalisation as the currency strengthens, and Portugal hires banks for its first Panda bond issuance.

CapitaLand Commercial Trust Management is looking to raise S$1.82bn for its acquisition of Asia Square Tower 2 through a combination of debt and equity.

Indonesia’s Waskita Karya sealed a Rph5tr ($375m) loan this week, in a rare syndication with international banks. While the borrower raised its profile as it tapped into pockets of rupiah liquidity from foreign lenders, the deal also illustrated the push by north Asian banks to deploy their balance sheet in Indonesia. John Loh writes.

Standard Chartered has allocated a $300m offshore financing for Lotte Vietnam Shopping to four additional banks, following general syndication.

Bank of Tokyo-Mitsubishi UFJ cleaned up its position in CIMB Group this week, offloading more than 400m shares in an accelerated bookbuild to raise MR2.55bn ($607m).