Asia Pacific

South Korea’s Jeil Holdings Co has priced its W421.9bn ($372.6m) IPO at the low end of expectations, according to a stock exchange filing.

Bestway Global Holding and China Isotope & Radiation Corp are gunning for listings on the Hong Kong Stock Exchange.

Enthusiasm for green and social bonds is mounting, and revisions to the Green Bond Principles (GBP) announced this week may give the market a further lift. Many of the same debates still exercise market participants as in the past, but they appear less daunted by these conundrums.

The Pakistan Stock Exchange (PSX) priced its IPO on Monday to raise Prp4.5bn ($42.8m), completing a demutualisation exercise and public offering that has been in the works for years. But while books were oversubscribed, the bourse had to contend with myriad challenges to get across the line, writes John Loh.

Equity capital market participants were stunned this week when a US bank, thought to be Morgan Stanley, offered to charge nothing to be a sponsor of China Tower’s $10bn Hong Kong IPO — a highly unusual move even by the city’s ultra-competitive standards. But the aggression was not unique, as most banks asked for token fees in the hope of winning the mandate.

After a barnstorming first half, Asia’s debt markets are looking forward to what H2 brings. Optimism is high after markets proved their ability to shrug off geopolitical tensions and widespread uncertainty, posting a sharp increase in first half volumes, writes Morgan Davis.

China Three Gorges Corp sealed its inaugural offshore green bond on Wednesday, raising €650m from a seven year deal. The notes were sold at a tight spread, with bankers saying that the “European style” execution was due to strong demand from investors.

Panama severed diplomatic ties with Taiwan this week in favour of supporting China, leaving syndicated loans bankers in Taiwan divided about how the move will affect their business, as several Panamanian institutions have tapped Taiwanese bank liquidity for funds in the past. Shruti Chaturvedi reports.

ICBCI DCM co-head exits — Senior India departures at Barclays — CEB hires global markets deputy — ING appoints Asia levfin head

Citic CLSA chairman Tang Zhenyi has taken charge of investment banking at the Hong Kong-based firm after Andrew Low moved to Australia in May, said sources.

The last few weeks have been rough on my pals in the equity capital markets. Business has been booming, but equally competition has risen to a fever pitch.

FWD Group wowed the Asian dollar bond market with a rare $500m zero coupon subordinated perpetual non-call five deal this month, catching investor interest thanks to its backing by high-profile investor Richard Li.