Asia Pacific

Cochin Shipyard is going through pitches from nine local banks for an IPO in India that could raise more than Rp10bn ($147m), with the state-owned firm expected to choose up to three lead managers.

Hong Kong Broadband Network is raising a HK$700m ($90m) loan to fund its acquisition of telecoms businesses Concord Ideas and Simple Click Investments.

South Korean computer and mobile game developer Netmarble has shortlisted a trio of international banks and five local firms to lead its IPO, which could raise as much as W2tr ($1.6bn).

Asia’s desolate equity capital markets are about to be tested with new listings for the first time since Goodbaby China Holdings pulled a Hong Kong IPO in early February. But with bankers finding it harder than ever to convince investors to buy deals, little can be done in the primary market until some stability returns, write Jonathan Breen and John Loh.

Samsung SDI is paring its stake in sister firm Samsung C&T via an accelerated bookbuild worth up to W565.34bn ($458.23m), amid regulatory pressure on chaebols to unwind cross shareholdings.

One of Vietnam’s largest property developers Vingroup raised VN$3tr ($135.5m) from a dual-tranche offering on February 18 in what was only the second transaction in the country to be backed by the Credit Guarantee Investment Facility.

China Huarong Asset Management has hired Richard Zhang in the newly created role of investment director to lead and oversee investment, with a focus on expanding the asset manager's offshore allocation.

Chinese authorities are set to announce a third batch of free trade zones (FTZs) this year with the preference likely falling on Western provinces. Meanwhile, the regulators have laid out more plans for the original pilot in Shanghai, aiming for the city to become the first to test full liberalisation of the capital account.

Syngenta will imminently launch into syndication its European non-recourse loan for its acquisition by ChemChina, according to a banker familiar with the deal.

Pirelli will not refinance its €6.8bn acquisition bridge loan in the bond market as planned. A torpid high yield bond market has spooked the borrower away from capital markets and back to bank loans.

Kazagro on Monday launched a consent solicitation for its euro denominated 2019s and dollar denominated 2023s, asking to change some of its leverage covenants.

Santander Consumer Finance opened up a new Tokyo Pro-Bond programme worth €10bn on Tuesday, following a similar move from its UK sister borrower last year.