Asia Pacific

Malaysia’s RHB Banking Group has made two senior appointments at the firm.

Ascendas Real Estate Investment Trust has launched an offering of new shares, eyeing S$1.2bn ($891.6m) to fund acquisitions across the US, Europe and Asia Pacific.

Gland Pharma, a subsidiary of Chinese conglomerate Shanghai Fosun Pharmaceutical Group, has started bookbuilding for its Indian IPO, set to be the largest pharmaceutical listing in the country.

India’s Emcure Pharmaceuticals has returned to the loan market after four years, seeking a small amount of $34m.

China Evergrande Group has abandoned a backdoor listing plan for its property arm and flagship subsidiary Hengda Real Estate on the Shenzhen exchange, ending a reorganisation that started four years ago.

Asia’s capital markets started on a positive note on Monday following Joe Biden’s presidential election victory in the US.

Three property companies from Greater China hit the bond market last Friday, raising $850m between them even as the US presidential election battle raged on. With Joe Biden now announced as the president-elect, the issuance spree in Asia only picked up pace on Monday.

Chinese property manager Sunac Services Holdings has hit the road for its Hong Kong listing, eyeing HK$8.7bn ($1.1bn) in fresh equity.

UBS has tapped Uday Odedra as its new India country head, effective next year.

China Resources Mixc Lifestyle Services has begun testing investor appetite for a Hong Kong listing that could raise around $1bn, said a source close to the deal.

Antengene Corp, a clinical stage biopharmaceutical company, has set its Hong Kong listing in motion. It has opened bookbuilding for an up to HK$2.79bn ($359.4m) IPO.

In this round-up, China’s financial system gives up Rmb1.25tr ($190bn) in profits to support the real economy, the central bank releases its annual financial stability report, and the country’s foreign exchange reserves by the end of October miss forecast.