Asean

The Stock Exchange of Thailand (SET) is expecting IPO issuance to stay robust in the second half of the year, capping a solid 2016 amid an increasing backlog of firms filing for first time share sales.

DBS Private Bank has hired Joseph Poon as its regional head of southeast Asia, poaching him from UBS.

Mapletree Commercial Trust has opened books on a S$1.02bn ($751.3m) dual tranche equity fundraising that is being conducted via an overnight share sale and preferential offering.

Pilipinas Shell Petroleum Corp, the local arm of oil giant Royal Dutch Shell in the Philippines, filed for an IPO on Monday to raise up to Ps29.7bn ($632.1m), according to bankers.

Agricultural trading and processing company Cofco Agri is understood to have sent out a request for proposals for a dual-tranche facility to refinance debt.

Singapore’s Noble Group has sown up its S$719m ($522m) rights offering with a 173.7% oversubscription, according to a stock exchange filing on Monday.

DBS is establishing a securities business in Japan to help investors grappling with the low interest environment in the country earn better returns in the rest of Asia.

Mizuho has recently seen the departures of two bankers in its loans team in Singapore — one each from origination and distribution.

Bank of Tokyo-Mitsubishi UFJ (BTMU) has appointed Melina Concha as executive vice-president and head of global corporate banking for the Philippines as part of the Japanese firm’s strategy to deepen its presence in the region.

There was a common thread in two new proposals by Malaysian and Indian regulators to reform their respective real estate investment trust regimes. Both countries are looking to increase Reit exposure to under construction or greenfield properties — moves that could give a much-needed boost to the asset class. John Loh reports.

VPBank Finance, the consumer finance arm of state-owned Vietnam Prosperity Bank, is accessing the debt market for a $100m loan backed by accounts receivable.

Credit Suisse has made two senior appointments to its Japan’s investment banking and capital markets division, poaching from Deutsche Securities.