Asia Pacific

China Resources Beer (Holdings) Co is preparing a jumbo rights issue, aiming for a size of HK$9.5bn ($1.2bn).

South Korea’s Busan Bank is getting ready to meet investors next week before it ventures out to the offshore bond market in mid-July.

The result of the UK referendum on EU membership is likely to encourage Japanese triple-A investors to focus more heavily on US CLO paper, said CLO market participants this week.

Shenzhen Expressway has mandated banks to prepare its first outing in the international bond market in more than four years.

Russian and Chinese authorities are working towards the establishment of a renminbi hub in Moscow, at a time when Russian banks are seeing growth in RMB-related business and the central bank has begun investing in the currency.

Greentown Service Group has priced its Hong Kong IPO slightly above the mid point of the original range, raising HK$1.55bn ($200m) in the aftermath of Brexit, according to sources.

After months of inactivity, offshore renminbi-denominated bonds finally came to life this week with two Chinese issuers announcing their respective transactions. The deals are widely expected to fare well and have excited some market participants, but it would be premature to call a comeback of the dim sum market.

CICC has responded to recent speculation that it is merging with China Investment Securities, saying there are discussions for a strategic co-operation although nothing concrete has been signed yet.

It has been mooted for months but the Shenzhen-Hong Kong Stock Connect remains elusive with little detail on when the scheme will launch. But instead of being too overly fixated on timing, market participants said the focus should instead be on the scheme’s potential impact and the further liberalisation of China’s securities market.

Firm data on the Chinese economy has backed paying in CNY swaps and some steepening across the 1s/10s slope. Sources still say the curve is too flat. Bank of China will price a Green bond issue later today, writes Deirdre Yeung of Total Derivatives.

Wu Xiaoling, former vice-governor of China's central bank, has spoken out about the poor quality of financing available to Chinese businesses, saying they need more channels to help them develop.

Global construction equipment maker Doosan Bobcat has asked for the go ahead to launch its South Korean IPO, according to a statement from the Korea Exchange.