Asia Pacific

SBI Life Insurance Co is asking banks to pitch for a role in its India IPO, issuing a request for proposals on Monday.

China’s State Development & Investment Corp started collecting orders for its new dual tranche offering on Tuesday morning at the Asia open, with the company set to debut in the dollar bond market.

Indonesian construction firm Totalindo Eka Persada has started gauging investor interest for its $120m float in the country.

India’s NTPC opened books for a new offshore rupee offering on Tuesday, the second Masala transaction to hit the market this year.

Decker & Co, a US-based institutional equities broker that focuses on Asia, has made several new hires to expand its coverage in China and Japan.

Kailash Soni is expected to join Goldman Sachs later this year as head of ECM for India, sources close to the matter said.

South Korean game developer Netmarble Games has wrapped up its W2.7tr ($2.4bn) IPO, the largest in the country in seven years, on the back of a flood of demand.

ASM International is in the market to sell a HK$2.15bn ($277m) overnight block in its Hong Kong-listed unit ASM Pacific Technology.

An outpouring of interest from first tier global funds helped shareholders of ING Life Insurance Korea raise W1.1tr ($975m) from its IPO, though pricing came near the bottom of guidance.

National Highways Authority of India is preparing investors for a new Masala transaction, the issuer’s first in the offshore rupee market.

Two commodities companies have rolled out separate syndications into the loan market, with Vitol Asia approaching lenders for $1bn and Gunvor Singapore looking for $800m.

The Indian government has hired five firms to run the IPO of state-owned insurer New India Assurance Co, according to a banker close to the situation.