Asean

Pilipinas Shell Petroleum Corp has clinched a Ps18.4bn ($380.6m) IPO after robust demand meant the leads had tough time during an allocation process that saw plenty of investors scaled back.

Malaysia’s Tenaga Nasional sold its first dollar sukuk on Wednesday, attracting $2bn of bids as investors shrugged off concerns around the country. While participants said that that the sukuk market has always been open for borrowers, they are hoping that the power company’s deal will fuel more issuance. Addison Gong reports.

A diverse group of issuers forged ahead with their respective fundraisings on Thursday, seeking everything from dollars to Singapore dollars and green debt.

Malaysia’s Tenaga Nasional, which set up a $2.5bn multi-currency sukuk programme at the start of the month, has kicked off its first dollar outing in about 15 years.

Singapore-listed Frasers Hospitality Real Estate Investment Trust has raised S$266m ($192.6m) from an oversubscribed rights issue.

Vietnam’s equity capital markets is peculiar in that doing an IPO and listings are viewed as two separate events, leading to companies, particularly state-owned ones, often being in no hurry to start trading their shares on the stock exchanges. There’s no simple solution, but a shake-up of the market is well overdue.

Fullerton Healthcare Corp has wrapped up its Singapore listing at the bottom of guidance, valuing the deal at S$213.3m ($154.7m).

The Monetary Authority of Singapore has cracked down on DBS Bank, Falcon Private Bank and UBS for breaching its anti-money laundering (AML) requirements, following an investigation into fund flows related to scandal-hit Malaysian investment fund 1MDB.

Indonesian textile company Delta Dunia Sandang Tekstil has signed its $260m fundraising with 13 lenders, about four months after banks were first sounded out.

Leading voices from across the emerging world have lined up this week to talk up the benefits of free and unfettered trade — and bemoan the increasingly protectionist rhetoric they see emanating from politicians in the struggling West

The Philippines' finance minister Carlos Dominguez tells GlobalMarkets how he plans to "rebalance" its relationship with China and carry out extensive economic reforms to attract foreign investment

The Vietnamese government has hired Morgan Stanley to lead a 9% divestment of its stake in Vinamilk, the country’s largest dairy company.