Asia Pacific

Malaysia’s Hong Leong Financial Group has sealed its MR1.1bn ($261m) rights issue as shareholders piled into the trade, leading to an oversubscription.

The Dubai Gold and Commodities Exchange (DGCX) is set to launch trading of offshore RMB (CNH) futures contracts on December 18. The exchange is looking to leverage the RMB’s new-found status as an SDR currency, it told GlobalRMB.

Asset manager AllianceBernstein is offering a drastically different view on the knock on effects from the renminbi’s inclusion in the IMF’s Special Drawing Rights (SDR) basket. While the consensus is that it will have little impact on the desirability of RMB assets, the manager is forecasting a huge spike in demand.

The Chicago Board Options Exchange plans to launch options on the FTSE 100 and FTSE China 50 indices before the end of the year.

Ford Auto Finance (China) is preparing for what is set to be the last auto ABS from China this year with the Rmb2.99bn ($469m) Fuyuan 2015-2 Retail Auto Mortgage Securitization due to go live on December 7.

Drug manufacturer Alkem Laboratories has set the price range for its Rp13.5bn ($202m) IPO in India, with the offering set to launch on December 8.

The Securities & Exchange Board of India (Sebi) is moving ahead with a long-delayed plan to allow its two stock exchanges to float their shares, with the board approving the listings on Monday.

Chinese debt houses have gained market share this year thanks in no small part to the power of their balance sheets. While competitors have long criticised Chinese banks’ willingness to use capital to win a place on deals, there’s little reason to stop an approach that is clearly reaping rewards.

Bank of Jinzhou has raised HK$6.15bn ($794m) from its IPO in Hong Kong, pricing the stock near the bottom of the range as investors remain cautious about Chinese city commercial lenders.

ICBC Sydney printed its first dollar bond on November 30, raising $300m from a trade that was more than three times covered.

South Korea’s Doosan Power Systems (DPS) bagged $300m from a hybrid bond on November 30, opting for a guarantee from Export-Import Bank of Korea. While it was a win-win for investors and the issuer, market participants are concerned about excessive use of the guarantee.

Chinese notebook parts maker Luxshare Precision Industry has closed its three year revolver at $250m, partially exercising a $100m greenshoe.