Asia Pacific

Postal Savings Bank of China has picked five banks to lead its listing, which could raise as much as $15bn to become the largest IPO in Hong Kong in five years.

A $975m refinancing for India’s Reliance Industries has opened for general syndication via 13 mandated lead arrangers and bookrunners.

India’s Bombay Stock Exchange (BSE) is searching for a bank to head up its long awaited IPO, which has been three years in the making.

Commonwealth Bank of Australia has successfully issued the first euro covered bond from an Australian bank in nearly 12 weeks. Swapped back into Australian dollars the 15 year tranche provided cheaper funding than the five year.

China’s Panda bond market has been on a tear since it reopened last year with sovereign names, big banks and corporates selling deals. But recent mixed messages from regulators means the market is now in urgent need of formal rules as two major banks are joining the growing pipeline of deals.

GCL-Poly Energy Holdings’ rights issue to raise HK$3.47bn ($443.64m) has been poorly received, with the Chinese power firm’s shareholders coming in for just a little more than a third of the offering.

Macau casino operator SJM Holdings has enlisted one bank to sound out lenders for a HK$25bn ($3.2bn) loan for a new project in the city. Although the gaming industry in Macau is experiencing a lean period, loans bankers are expected to place their bets on SJM’s strong market position.

The Asian market finally saw some signs of activity on Wednesday with China Development Bank and Vista Land & Landscapes opening taps for their respective dollar bonds.

Samsung Bioepis, the pharmaceutical arm of the South Korean conglomerate, has decided to postpone its Nasdaq IPO due to valuation issues and to make way for the listing of Samsung BioLogics.

Panda bonds were thrust back into the limelight when the market was reopened by China in 2015 with many high profile issuers lining up to sell deals. But what are Panda bonds and why should you care? Here’s GlobalRMB’s quick guide to all you need to know.

Australia and New Zealand Bank unveiled changes to its senior management on Wednesday, explaining that the moves would improve focus on its retail, commercial and institutional clients.

The Monetary Authority of Singapore (MAS) has published a substantially revised set of data on Singapore’s RMB deposit pool, showing RMB liquidity was lower by as much as 27% than previously stated.