Asia Pacific

The filing of form S-1, the draft registration statement for the proposed $3bn New York IPO of Snap, the $25bn parent company of messaging app Snapchat, was full of surprises — not all of them good for investors. If anything, it also showed that Hong Kong will, most likely, never be able to compete with the US exchanges when it comes to listing unicorns, writes our columnist Clawback.

Rimo International has downsized its long delayed rights issue by almost half to Rph4.1tr ($307.5m), in the latest update to its fundraising.

A crude oil refiner affiliated to Sinochem Group has made its debut in the international syndicated loan market for $110m, with a view to expanding its overseas banking relationships.

Chinese markets are back, with previous interventions by the regulators still paying off in the offshore RMB spot markets, while Dubai's exchange saw growing interest in RMB futures contracts in January 2017.

The post Chinese New Year holiday week has kicked off with Shanghai Pudong Development Bank (SPDB) hitting the market with a three year dollar offering on Monday morning local time.

After taking a beating in 2016, many are expecting the renminbi to fall further against the dollar this year. But few market watchers expect another sharp depreciation, with some believing the RMB may have already reached the bottom.

China Singyes Solar Technologies Holdings is eyeing its inaugural dollar bond, hiring six banks to work on the senior unsecured transaction.

Shares of India’s second largest stock exchange BSE traded up 49% on their debut on Friday, following the hugely successful Rp12.4bn ($184.1m) IPO in January.

Samsonite International has refinanced credit facilities totalling $2.4bn that were originally raised to fund its acquisition of premium luggage maker Tumi last year.

Korea Water Resources Corp (K-water) is preparing to join the queue of issuers from the country selling dollar bond offerings this year, following a three year hiatus.

Activity is trickling back into Asia ECM as bankers return to their desks post Chinese New Year, with several Hong Kong IPOs looking to start pre-marketing and a Thai name testing investor appetite.

In this round-up, CFETS sets its dollar fix nearly unchanged after a week-long break, several Japanese lenders get ready to gain access to the China interbank payment system, and RMB trade settlement in Hong Kong sees a sharp fall in 2016. Plus a recap of our coverage.