Asia Pacific

Central China Real Estate wrapped up an unconventional two-day bookbuilding for its new bond on Tuesday. Investors had turned their backs to the original aggressive pricing, forcing the leads to price the deal 75bp higher than the initial guidance.

GDS Holdings received a thumping response from investors for its $192.5m Nasdaq IPO, but priced it below the initial range to capture long-only demand and a higher-quality book.

Hydropower firm China Yangtze Power Co launched a dual currency exchangeable bond on Wednesday evening, looking to fetch $521.8m, according to a termsheet seen by GlobalCapital Asia.

Wuhan Metro Group and Jiangsu Zhongguancun Science Park Holding Group added their names to the growing list of Chinese local government financing vehicles (LGFVs) sealing inaugural dollar bonds in the international market this year.

Credit Suisse launched its onshore brokerage business in China on Wednesday, placing it among a handful of global banks that have securities trading operations in the Mainland.

Global mining firm MMG, whose largest shareholder is China Minmetals Corp, has proposed a rights issue of over 2.5bn new shares in a move to raise HK$4.0bn ($515.8m).

A subsidiary of Chinese electro-acoustic product maker Goertek has approached banks for a $150m three year borrowing.

State-owned China Nuclear Engineering Group Co (CNEC) has hired banks to test appetite for its inaugural CNH bond — the third time it is attempting to sell a dim sum deal.

JP Morgan is working with US regulators to resolve probes into its hiring practices in Asia, years after investigators were reported to be looking into whether it hired the children of Chinese officials in Hong Kong to win business.

Hong Kong’s IPO sponsors are in the spotlight for all the wrong reasons as Standard Chartered and UBS face investigations by the city’s regulator. As a former IPO banker and joint author of the study manual for sponsors, our columnist Clawback is perfectly placed to delve into the pitfalls for banks.

The Dubai Gold and Commodities Exchange (DGCX) has announced plans to launch a renminbi futures contract, with Gaurang Desai, CEO of the exchange, telling GlobalRMB the contract has already received regulatory approval.

Nissan has done the UK a favour. By playing hardball about wanting assurances from the UK government about Brexit, it has opened the debate into one where real investments are discussed, and tough choices become apparent. The City should follow its lead.