Asia Pacific

Products under the umbrella in the Mutual Recognition of Funds scheme (MRF) will not require institution or product level quotas, the Chinese regulator said on November 6. But experts argue the MRF’s rules may limit its appeal among foreign asset managers, in particular those without an established joint venture in the Mainland.

Indian mortgage lender Housing Development Finance Corp (HDFC) is gearing up for what could potentially be the country’s first rupee-denominated offshore bond, also known as a Masala bond.

Chinese technology giant Tencent Holdings is due to hit the syndicated loan market for a fundraising of as much as $1.25bn.

UNV Digital Technologies is expected to seek listing approval from the Hong Kong Stock Exchange this Thursday and start pre-marketing its $150m IPO on November 16.

Wenzhou Kangning Hospital opened bookbuilding for its HK$681m ($88m) listing on Monday, following in the footsteps of Dali Foods Group by placing out stock to just a few cornerstone investors.

Seafood restaurant chain Jumbo Group made its debut on Singapore’s Catalist exchange on Monday, November 9, after finding strong support from investors for its S$40m ($28m) listing.

China Huarong Asset Management has lined up 15 banks for what will be its second outing of the year, while Beijing Properties is looking to make its offshore debut.

Nine offshore RMB clearing banks have been given approvals from the People’s Bank of China (PBoC) to participate in China’s onshore foreign exchange derivative sector, marking another step in China's capital market liberalisation China’s capital market.

A $500m five year loan for Stats ChipPac, which launched in mid September, has received commitments from three banks, according to sources familiar with the deal.

Future Land Development Holdings breathed some life back to the Asia ex-Japan high yield bond market this week with a red hot $250m bond that was close to 10x subscribed.

LVGEM (China) Real Estate Investment Company is looking to raise HK$2.3bn ($300m) from a placement of shares with the proceeds intended to go towards funding a big chunk of an acquisition.

Industrial and Commercial Bank of China New York has wrapped up its second offshore bond, sealing $1bn on November 5. But while Asian interest was strong, the issuer’s aggressive pricing tactic meant demand from US investors was lacklustre.