Asia Pacific

The Hong Kong Stock Exchange has had a stellar week, hosting two secondary listings worth about $6bn in total in quick succession. The latest out of the gate is Chinese video sharing and gaming platform Bilibili, which kicked off a potential $3bn float within hours of internet giant Baidu wrapping up its multi-billion-dollar deal. Jonathan Breen reports.

A wise investor once told me: when your taxi driver is recommending a stock, it’s time to sell. The idea is that once retail investors have spotted a big opportunity, it has already evaporated. What about when they’re playing it on the car radio?

Indonesian multi-finance companies are ready to charge back into the loan market after a quiet 2020, as the country’s economy picks up and consumer sentiment improves. Banks are also ready to accept borrowers from the sector, but there are challenges ahead, writes Pan Yue.

Two Chinese companies sold dollar bonds on Wednesday as the rest of the market hit pause to await the outcome of the Federal Open Market Committee meeting.

Verizon Communications, the US telecoms group, embarked on an almost $3bn niche currency bond issuing spree this week, which included the largest foreign Swiss franc bond since early 2018.

US private equity firm Carlyle has raised Rp39bn ($540m) after offloading a block of shares in SBI Cards and Payment Services, according to a source close to the deal.

Malaysian oil company Petroliam Nasional Berhad (Petronas) used a stable window for issuance on Tuesday to raise $600m, returning to the bond market a year after it helped restart deal flow following a lull caused by Covid-19.

Local government financing vehicle Beijing Public Housing Center raised $300m from a five year bond on Tuesday that was priced inside some fair value estimates thanks to the borrower’s strong track record.

Japfa Comfeed Indonesia sold the country's first sustainability-linked bond this week, leveraging the market fervour for environmental, social and governance (ESG) investing to tighten pricing more than it would have for a conventional deal. Morgan Davis reports.

Hutchison Port Holdings Trust found strong support for its five year bond on Tuesday, allowing it to raise $500m from a $3bn order book.

The controlling shareholder of Thailand’s Stark Corp has sold a chunk of his shares in the company, raising Bt3.77bn ($122.4m) after pricing the deal towards the top of price guidance.

Ford Automotive Finance (China) has wrapped up a Rmb3.203bn ($492.3m) auto loan ABS deal, its first outing in the domestic Chinese market this year. Mercedes-Benz Auto Finance is also looking to make its first appearance of 2021 next week.