Asia Pacific

India’s Mahanagar Gas has priced its IPO at the top guidance to a value of Rp10.4bn after a torrent of orders covered the book more than 60x.

Malaysia’s Eco World International, which is planning a $500m IPO, will stick to its timeline for opening books in the third quarter of this year despite the risk of contagion from Brexit.

Today the PBOC fixed the yuan at its weakest level since 2010, causing short-end underperformance as offers drove 5-year NDIRS lower. One source said the resultant curve flatness should dampen further receiving interest in the belly, writes Deirdre Yeung of Total Derivatives.

India’s Aster DM Healthcare could become the next in a stream of healthcare IPOs in the country as it spies a listing that could raise up to Rp20bn ($294.3m).

China Logistics Property (CLP) has opted to delay the launch of its $400m-$500m IPO in Hong Kong to Wednesday from following Britain’s decision to leave the European Union.

The UK’s shock decision to leave the European Union has left most of Asia reeling with the region’s major currencies and stock indices all coming under severe pressure. But if there is one country that can handle the negativity better than the others, it will be China.

Varun Beverages has filed a draft red herring prospectus to list in India, with the IPO slated for the end of the year under leads Axis Capital, Citic CLSA Securities and Kotak Mahindra Capital.

A subsidiary of Malaysian telecommunications company Axiata Group has approached the loan market for funds worth $100m.

Brexit is here, and so is our round-up! This week: Fullgoal Asset Management launches its first RMB ETF in Europe, the Hong Kong Exchange runs further Shenzhen Connect testing, and China announces direct trading of the RMB against the Korean won. Plus, a recap of our coverage this week.

Jiangsu Hanrui Investment Holdings defied the quietness in Asia’s primary capital markets on Thursday with a rare high yield bond from a local government financing vehicle. Although market observers welcome growth in the new asset class, some are cautious about the standalone credit strength of smaller LGFVs.

Japan’s Honma Golf is planning a Hong Kong IPO under sole sponsor Morgan Stanley, according to its draft prospectus.

Hengdeli Holdings and eSun Holdings have announced the results of their respective tender offers for international bonds.