Asia Pacific

Singapore is pushing ahead with plans for a dual class share structure, giving it an edge over Hong Kong for the next big technology IPO. But markets watchers warn that progress will take time.

The World Bank broke a 30 year silence in special drawing rights (SDR) bonds with the sale of a SDR500m ($700m) three year note in China on Wednesday. While the Mulan bond is widely seen as a symbolic gesture to promote the internationalisation of the renminbi, market participants said it is more than that, in spite of the relatively narrow investor base. Paolo Danese and Rev Hui report.

First-timer Far East Consortium International found markets plane sailing on Wednesday, managing to raise $300m thanks to no other high yield names distracting investors.

Waskita Beton Precast has wrapped up a deal some consider to be this year’s hottest Indonesian IPO, with investors piling in to help it raise Rph5.16tr ($390.61m) near the top of the price range.

Hong Kong-listed NagaCorp raised a larger than expected HK$950m ($123m) after boosting the number of shares sold in its overnight equity offering, even though it priced at the bottom of guidance.

Investors had ample opportunity to indulge in bank capital credits this week, with United Overseas Bank sealing a $600m additional tier two offering on Wednesday, just a day after DBS’s landmark AT1 dollar note.

My beloved wife Tai Tai often complains, quite unreasonably I think, about how under appreciated she feels. But a recent gaffe by an acquaintance of mine had her, for once, thanking her lucky stars that she married me back in the day when bankers actually paid some attention to their better halves.

ING Bank has made changes to its businesses in Mongolia and South Korea, appointing a new chief representative for the former and bolstering its presence in the latter.

Maybank Kim Eng, the securities arm of the Malaysian lender, has added to its team in the UK with a slew of hires.

Postal Savings Bank of China met with the sponsors of its upcoming $8bn Hong Kong IPO in Beijing on Thursday as the issuer approaches hitting the market, according to a source involved in the transaction.

A senior banker in the Asia Pacific financing division of Credit Suisse has stepped into a newly created position at the bank.

The Province of British Columbia will dip into the Masala bond market for the first time with a January 2020 bond on Thursday.