Asia Pacific

Gitanjali Gems is seeking to list its wholly-owned subsidiary Nakshatra World in an IPO that will raise up to Rp6.5bn ($95.9m).

In this weekly round-up, the US Federal Reserve interest rate hike is pushing the RMB even lower against the dollar, a fresh batch of free trade zones could be approved for an early 2017 launch, and Tunisia’s central bank is looking at a Panda bond deal. Plus, a recap of our coverage.

The risk of a devastating collapse in oil and gas companies’ share prices, when investors suddenly start pricing in climate change, is one scenario financial regulators are trying to ward off with the launch of new guidelines this week, which are a milestone in the world’s response to global warming.

It’s that time of year when analysts dust off their crystal balls and make predictions for the next 12 months. In December 2015 not many were forecasting that Britain would vote to leave the EU, and even fewer were betting on a Donald Trump presidential victory, so investors would be wise to treat such missives with caution. Political risk is a capricious beast, even for the most seasoned market observers.

After the wild ride that was 2016 ECM, banks in Asia are hoping for some breathing space next year. Bankers report a strong pipeline, but worries about Donald Trump and other potentially destabilising macro events continue to cast a shadow. For 2017, the key will be in the execution, writes John Loh.

VietJet Aviation sealed Vietnam’s largest IPO this week, pricing the D3.79tr ($167m) trade in the lower half of expectations and becoming a rare bright spot in an otherwise patchy market for stock sales.

Myanmar’s capital market is set for a fillip in 2017 from foreign investors who will gain greater access thanks to new laws coming into force. Expectations are high but the country will be wary of letting any momentum fade, as has happened to some of its neighbours. Jonathan Breen reports.

Next year’s Asian loan market could see a shift in dynamics as lenders juggle rate hikes and abundant liquidity. Borrowers could also turn away from bonds in favour of syndicated lending, setting the stage for a year of growth, writes Shruti Chaturvedi.

The many Chinese issuers seeking offshore funding will need to negotiate a delicate dance in the new year. Volatility has rocked markets in the last 12 months, meaning issuers will have to stay nimble if they want to garner investor attention. Morgan Davis and Addison Gong report.

Shandong Ruyi Technology Group grabbed the market’s attention with its debut international bond on Tuesday, reeling in investors searching for an alternative to notes from local government financing vehicles.

Natixis has named a new global markets head for Asia Pacific, while Standard Chartered has recruited an outsider to run financial markets.

China Petroleum & Chemical Corp has taken plans to list Sinopec Marketing Co out of cold storage, this time with a much bigger fundraising target of $10bn.