Asia Pacific

India’s first listing of a unicorn has started, as Zomato, a food delivery start-up, made its second day of bookbuilding on Thursday for a Rp98.9bn ($1.32bn) IPO. Droves of investors have already oversubscribed the deal, paving the way for the pipeline of technology listings to come, writes Jonathan Breen.

China’s Sichuan Languang Development Co has become the latest property developer to default on a domestic public bond, failing to repay a Rmb900m ($139m) medium term note this week. More defaults from the company are likely, writes Addison Gong.

China’s move to tighten its grip on overseas IPOs of technology companies could be a boon to a handful of other markets in Asia.

Indian food delivery app Zomato has launched its hotly-anticipated IPO of up to Rp98.9bn ($1.32bn), anchored by a strong book of global heavyweight investors.

CLP Power Hong Kong's latest $300m bond offered a rare bit of stability in a volatile market, making the well-established borrower popular with investors — but only for the right price.

Chinese state-owned enterprise Zhejiang Provincial Energy Group Co has returned to the offshore market for the first time in nearly seven years to print a $500m bond.

Three real estate developers from Greater China raised additional funding from the dollar bond market through opportunistic trades on Tuesday, taking some comfort from the Chinese central bank’s recent move to boost renminbi liquidity.

State-owned Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) is in the market for a $790m loan, its largest offshore facility yet.

Commonwealth Bank of Australia’s has increased the size of its covered bond programme after the Reserve Bank of Australia opted to end its Term Funding Facility, suggesting that Australian banks could be on the verge of increasing their public bond market funding.

Indian financial technology company One MobiKwik Systems is eyeing Rp19bn ($255.1m) from an IPO, having filed initial documents with the regulator.

The liquidity crisis at Chinese real estate issuer Sichuan Languang Development Co went up a notch this week, after it failed to repay Rmb900m ($139m) of domestic bonds.

Minor International Public Co, a Thai hotel operator, closed a $300m transaction on Monday as part of a liability management exercise.