Asia Pacific

India’s IPO market shone last year with volumes reaching the highest level since 2011. And bankers are optimistic of a similar performance in the New Year too. But while there is a lot to be positive about, there is also plenty that can hold the ECM market back.

The Republic of Korea looks set to be the first Asian sovereign to hit the international debt market in 2017, with plans to meet fixed income investors next week for a potential dollar bond.

ANZ has hired a former DCM syndicate banker from Citi for its Asia bonds desk.

Rabobank’s capital markets operation in Hong Kong has undergone senior staff changes with the departure of a veteran loans banker and the appointment of a new capital markets head.

Hong Kong Exchanges and Clearing (HKEX) plans to introduce options on the Chinese renminbi currency, as well as a US dollar/offshore renminbi contract, having gained approval from the Securities and Futures Commission of Hong Kong.

The Indonesian government has cut its business ties with JP Morgan, following the bank’s decision to downgrade the country’s stocks in November.

Goldman Sachs’ co-head of ECM syndicate for Asia Pacific ex-Japan has left the bank to lead macro research firm View from the Peak (VFTP).

Guangzhou Rural Commercial Bank Co is seeking regulatory approval for a $2bn IPO, having filed a draft prospectus with the Hong Kong Stock Exchange (HKEX) on Wednesday.

Raja Teh Maimunah Raja Abdul Aziz is set to join Malaysia’s AmBank Group as CEO of its investment bank, according to sources close to the matter.

Diesel engine maker Weichai Power has gathered liquidity from 13 lenders during the general phase of its €310m ($334m) five year loan.

The next chapter of the renminbi internationalisation process could soon be taking place in the commodities market with Amundi Asset Management predicting the rise of petro-renminbi in 2017.

Warburg Pincus backed e-Shang Redwood Group (ESR) has closed a $300m fundraising with a consortium of Chinese investors, paving the way for a future listing.