Asia Pacific

Credit Suisse’s Asia Pacific business performed strongly in the first quarter of 2017, with robust results coming from the wealth management and connected business (WM&C).

Cambodian state-owned Sihanoukville Autonomous Port launched bookbuilding for a potential Riel111.0bn ($27.2m) IPO this week, which could make it the largest in the country.

JP Morgan has given a fillip to its equities business in Australia and New Zealand, poaching three former Goldman Sachs bankers, according to a memo seen by GlobalCapital Asia.

School textbook publisher S Chand and Co’s Rp7.3bn ($112.8m) IPO, which was launched in India on Wednesday, had a book that was 1.8 times covered and growing as of Thursday evening.

South Korean low-cost carrier Jin Air is looking to raise at least $200m from an IPO in 2017, according to a source close to the deal.

State Grid Corporation of China on Wednesday snapped up $5bn from a four-trancher — the largest G3 bond so far this year. In addition to size, the issuer also achieved tight pricing, said market participants.

Saka Energi Indonesia sealed a $625m deal on Wednesday, its debut international issuance, backed by support from its parent.

China Huarong Asset Management Co sold a $3.4bn-equivalent six-tranche bond in US dollars and Singapore dollars on April 20. The transaction featured many firsts for the issuer, and was part of its efforts to normalise its debt curve.

Indian power company NTPC sold its second Masala bond on Tuesday, hitting the market a day after the National Highways Authority of India (NHAI) kicked off a roadshow for its debut. With more state-owned companies expected to jump on the Masala bandwagon, the government’s efforts at boosting the market appear to be paying off, writes Morgan Davis.

BPRL seeks SBLC-backed $400m — Singamas nets $270m with latest facility — Tower Bersama allocates among nine

China Rapid Finance decided to cut price guidance for its US IPO in order to secure a high quality anchor investor, raising $70m instead of the original target of up to $115m, according to a banker on the deal.

Commerzbank on Thursday announced two appointments in Asia, including a new CEO for the Asean region.