Asia Pacific

Chinese property developer Modern Land (China) Co and textile producer Shandong Ruyi Technology Group Co priced their respective taps at the end of last week, taking advantage of regulatory approvals that expired at the year end.

The Hong Kong IPO market has started 2017 with some action as two Chinese issuers unveiled fundraising plans to seek a combined HK$4.2bn ($533.8m).

Allocations are out for a $150m three year loan for a subsidiary of Chinese electro-acoustic product maker Goertek, which gathered commitments from 10 banks during syndication.

Welcome back and Happy New Year. While we were on a break, China revised its official trade-weighted currency basket, added two new RMB qualified foreign institutional investors (RQFII) and set stricter rules for the individual quota of foreign exchange (FX) purchases that reset on January 1.

Robust demand is expected to result in an oversubscription for a dual currency financing to back Indian company Intas Pharmaceuticals’ acquisition of a portfolio of assets in the UK and Ireland.

Dasin Retail Trust could be the first out of the gate with a decent-sized southeast Asian IPO this year, with books slated to launch as early as this week.

Law firm Dechert has hired a new partner in its corporate and securities team in Hong Kong, poaching from Cadwalader, Wickersham & Taft.

ANZ and CIMB have both revealed plans to sell their respective stakes in Shanghai Rural Commercial Bank (SRCB) and Bank of Yingkou, as part of strategies to focus on their core businesses.

Chinese property developer Cifi Holdings (Group) Co has raised $530m from a multi-currency club loan.

Law firm Clifford Chance has appointed a new head of corporate practice for Asia Pacific, as the incumbent takes over a new role.

The Pakistan Stock Exchange will sell a 40% stake to Chinese buyers including the Shanghai Stock Exchange (SSE), ending a months-long search for strategic investors.

Hong Kong-listed Longfor Properties has sealed a Rmb3bn ($431m) fundraising with a Chinese bank at the helm.