Asean

Wilcon Depot has fixed a price range for its IPO, and is set to raise up to Ps7.9bn ($156.8m) in the Philippines' first listing of the year.

In this round-up, the State Administration of Foreign Exchange (Safe) says it expects China’s foreign reserves to grow gradually despite global volatilities, PBoC’s dollar fix remains pretty much unchanged from the previous day and the Shanghai Free Trade Zone will open up the financial sector to more foreign investment.

Citi has rejigged the top leadership of its corporate and investment banking (CIB) franchise in southeast Asia, handing more responsibility to David Biller and Jonathan Quek.

Indonesian palm oil seller Royal Industries is looking to restructure a $405m loan after failing to repay the first and second instalments. And going by precedents, market participants are bracing themselves for a long-winded recovery process as legal proceedings unfold, writes Shruti Chaturvedi.

Malaysia’s CIMB Bank sealed a $1bn dual tranche deal on Wednesday, enticing investors with its rarity and a floating rate option, against a strained market backdrop ahead of the US Federal Reserve meeting.

Malaysia’s Eco World International has thrown open books to its potential M2.6bn ($578.5m) IPO, signing up three cornerstones to the deal.

Philippine-based Wilcon Depot is planning to open books on March 20 for a Ps7.9bn ($156.8m) IPO, according to a notice on the country's stock exchange.

JP Morgan taps Tan for SEA DCM — RHB loses SG equities banker — SMBC loans banker leaves

Malaysia-listed Iskandar Waterfront Holdings (IWH) is merging with sister firm Iskandar Waterfront City (IWC) in a MR761.8m ($170.8m) transaction to be funded by debt and equity.

Singapore-listed Ascott Residence Trust launched a fully underwritten renounceable rights issue this week, as OUE Commercial Real Estate Investment Trust raised funds via an overnight share sale.

OUE Commercial Real Estate Investment Trust bagged S$150m ($106.3m) in an overnight share sale on Wednesday, fully exercising the increase option.

Lotte Chemical Titan, which is seeking to raise more than $1bn via an IPO in Malaysia, has added three banks to its syndicate at the bookrunner level.