Asia Pacific

Phnom Penh Special Economic Zone (PPSEZ) is in the final stage of its listing process, having wrapped up bookbuilding for institutional investors for Cambodia’s fourth ever IPO. The company’s chief financial officer Fong Nee Wai told GlobalCapital Asia that the outcome that surprised him the most was the strong presence of Thai accounts in the book.

Property developer Frasers Centrepoint could start investor education next week for a potential S$900m ($659.5m) real estate investment trust IPO in Singapore, according to sources close to the deal.

BNP Paribas could let go of up to 40 people in its Asia cash equities unit, affecting about 20% of the division's workforce in the region, as it seeks a buffer against the continued soft patch in the market.

South Korea’s Kookmin Bank is getting ready to bring out a new $500m senior bond to the international debt market, picking four banks to work on the offering.

Agricultural Bank of China New York has returned to the offshore bond market, having started bookbuilding for a dual-tranche dollar transaction on Monday morning.

Indonesian telecommunications giant XL Axiata is preparing to net Rph6.73tr ($510.36m) from a rights issue, fixing the price of the offering at Rph3,150 a share.

Chinese wind farm operator Huaneng Renewables Corp is seeking approval from shareholders to raise new debt in the onshore or offshore bond market, as well as sell H-share convertible bonds.

Allocations have been issued for a $455.75m loan to support Baring Private Equity Asia’s acquisition of Singapore-based Interplex Holdings.

Thai department store operator Central Group is understood to have enlisted two lenders for a loan of about $1bn to back its acquisition of Big C Vietnam.

JP Morgan has found itself in the spotlight for becoming the first global bank to have its IPO application returned by the Hong Kong Stock Exchange since the regulator tightened the screws on listings two years ago.

Hong Kong financial investment firm Sun Hung Kai is in the market soliciting interest for an exchange offer that will see holders of its 2017 bonds switch to new notes maturing in 2021.

Standard Chartered's regional head of loan syndications for Greater China and northeast Asia has resigned to move to a rival, according to a source.