Asia Pacific

Shangri-La Asia, the investment holding company of hotel operator Shangri-La Group, has hired two banks to lead a Rmb1bn ($155m) Panda bond, its first in the currency.

The Republic of Indonesia, a keen issuer in dollar and euro markets, launched a euro-denominated benchmark bond on Tuesday, jumpstarting its funding for the year.

The New York Stock Exchange has dropped plans to delist the stocks of China Mobile, China Telecom Corp and China Unicom (Hong Kong).

The stock exchanges in Shanghai and Shenzhen have heeded increasing calls from the market for a revision to their delisting rules by introducing tougher measures and a faster process to remove companies from their bourse.

Indian borrowers re-entered the bond market on Monday, led by the Export-Import Bank of India which printed the country’s first dollar deal of 2021.

Chinese clinical-stage company Gracell Biotechnologies has kicked off the roadshow for its Nasdaq listing, eyeing up to $158.9m in proceeds.

Hong Kong’s block market surged back to life on Monday night with a flurry of share sales worth a total of HK$14.19bn ($1.83bn).

Chinese property borrowers reopened Asia’s primary dollar bond market on Monday, with four issuers raising nearly $2bn between them following solid demand from investors.

Far East Horizon, a Hong Kong-listed leasing company, has made a quick return to the loan market for a $1bn-equivalent three year borrowing, less than five months after sealing a larger facility.

Mexico reopened the international bond market for EM borrowers on Monday by issuing the first Formosa bond from a Latin American sovereign in response to interest from Asian investors.

Mexico returned to familiar territory by becoming the first Latin American borrower of the year to issue bonds on Monday. The format, however, was less familiar, as the 50 year SEC-registered $3bn bond — launched at around 11am New York time — will be listed on the stock exchanges of both Luxembourg and Taipei.

A block sale in the shares of Kingboard Laminates Holdings hit the market on Monday evening as its parent and an affiliate looked to trim their stake in the company.