Asia Pacific

The prospect of investors exerting real pressure on companies to reduce greenhouse gas emissions, including divesting from big polluters, came a step closer on Wednesday with the release of the Net Zero Investment Framework, a map to guide investors on the journey to carbon neutrality.

China’s Guangdong Lingyi iTech Manufacturing Co, a company focused on making magnetic materials, electric motors and electric wires for automobiles, computers and mobile phones, has hit the market for a $150m loan.

South Korean e-commerce company Coupang has increased the price range for its US IPO a day before wrapping up the deal, now putting proceeds of up to $4.08bn within reach.

China’s YishengBio is planning to list in Hong Kong, having filed an IPO application with the bourse on Monday.

Indian Railway Finance Corp postponed its dual-tranche dollar bond offering on Monday when faced with a volatile market backdrop that ‘bamboozled’ the banks running the deal.

The transition of Asia’s capital markets away from Libor got a small boost recently when Korea Development Bank sold the region’s second public dollar bond linked to the new benchmark lending rate, Sofr. But the pace of change is not fast enough.

South Korea’s flag carrier Korean Air has topped up its coffers with W2.5tr ($2.19bn) in fresh equity after sealing a jumbo rights issue.

SK Bioscience has priced its IPO at the top of the marketed range, raising W1.49tr ($1.32bn) from South Korea’s largest listing in four years.

The Asian Development Bank is marketing a five year renminbi-denominated bond, as it looks to raise Rmb2bn ($307m) from its first outing in the onshore China market in over a decade.

Real estate developer China Aoyuan Group has closed a $225m-equivalent dual currency loan with nine banks in the syndicate.

Utkarsh Small Finance Bank is planning an IPO of new and existing stock worth up to Rp13.5bn ($185.8m).