Asia Pacific

China Merchants Securities Co has kicked off bookbuilding for a HK$11.4bn ($1.5bn) IPO, over half of which has been propped up with cornerstone investors. Meanwhile, peer-to-peer lender Lufax has hired a quartet to lead its $5bn float.

King & Wood Mallesons has hired John Baptist Chan as a partner in the corporate and securities practice in Hong Kong as the law firm looks to boost its IPO team.

India’s Canara Bank is looking to return to the international debt market after a hiatus of nearly three years, having received the go-ahead from its board to sell dollar notes.

Evergreen Products Group, which makes hair goods like wigs, hairpieces, braids and extensions, is seeking a listing in Hong Kong and has filed a preliminary prospectus with the regulator.

Chinese data analytics firm Gridsum Holdings has raised $82m after global investors piled in to its Nasdaq IPO.

China National Chemical Corp’s $12.7bn acquisition loan for Syngenta, which drew eight commitments during general syndication, is expected be signed with the new lenders in the next two weeks, according to bankers.

Azure Power Global, the holding company of Azure Power India, opened books on Thursday for a listing on the New York Stock Exchange, and is targeting as much as $180.3m.

China Petrochemical Corp (Sinopec) sourced $3bn from a triple-tranche bond on Thursday, as the oil and gas giant’s credentials and frequency in the Asian G3 market paved the way for a successful trade.

Hong Kong is getting ready for a slew of $1bn-plus deals with China Resources Pharmaceutical Group preparing for its listing, as the city sees off the world’s largest IPO since 2014.

Cogobuy Group has raised HK$2.0bn ($257.9m) from a share placement, drawing interest from large Chinese firms and regional buyers, according to a filing with the Hong Kong Stock Exchange.

Hong Kong-listed China Merchants Port Holdings is planning to venture into the onshore debt market, having filed for an up to Rmb10bn ($1.5bn) Panda bond programme.

The appointment of a renminbi clearing bank in New York is a political win for the China-US relationship that adds to the currency’s global prestige, but it is unlikely to boost RMB trade or investment in the short term, according to experts.