Asean

The recent decision by the Singapore Exchange’s listings committee to give the green light to dual-class shares has received the usual jibes, with some contending that the move is coming far too late. But this is the big change that market participants have been calling for — even if they don’t know it yet.

Indonesia’s Aneka Gas Industri has wrapped up its Rph1.0tr ($77.0m) IPO after pricing towards the middle of price guidance, with strong demand seen from local and foreign long-only investors.

Standard Chartered has made a pair of top-level appointments in southeast Asia, naming the first local CEOs for its Thailand and Philippines offices.

Bank of Tokyo-Mitsubishi UFJ’s head of loan syndications for southeast Asia is set to leave by the end of the month, according to sources.

A S$350m ($259m) loan signed between Lippo Malls Indonesia Retail Trust (LMIR) and a group of lenders has opened into syndication.

In this round-up, a third batch of free trade zones (FTZs) get set to be rolled out soon, Hong Kong RMB deposits reach a three-year low, and the RMB qualified foreign institutional investor (RQFII) scheme adds two in Singapore. Plus, a recap of GlobalRMB's stories this week.

Malaysian sovereign wealth fund Khazanah Nasional threw open Asia’s equity-linked market this week, issuing a $398.8m exchangeable sukuk to much fanfare. The deal has revived Khazanah’s presence in the market and comes two years after it struggled to pull off a similar transaction. Jonathan Breen reports.

Singapore is pushing ahead with plans for a dual class share structure, giving it an edge over Hong Kong for the next big technology IPO. But markets watchers warn that progress will take time.

Waskita Beton Precast has wrapped up a deal some consider to be this year’s hottest Indonesian IPO, with investors piling in to help it raise Rph5.16tr ($390.61m) near the top of the price range.

Hong Kong-listed NagaCorp raised a larger than expected HK$950m ($123m) after boosting the number of shares sold in its overnight equity offering, even though it priced at the bottom of guidance.

Investors had ample opportunity to indulge in bank capital credits this week, with United Overseas Bank sealing a $600m additional tier two offering on Wednesday, just a day after DBS’s landmark AT1 dollar note.

A senior banker in the Asia Pacific financing division of Credit Suisse has stepped into a newly created position at the bank.