Asia Pacific

In this round up, China plans to expand its digital economy, local governments issue over Rmb6tr ($906bn) of bonds by October, and the National Association of Financial Market Institutional Investors announces a trial programme for cash tender offers for corporate bonds in the interbank market.

Singapore-based special purpose acquisition company (Spac) Tiga Acquisition Corp has set in motion a $200m listing on the New York Stock Exchange.

India’s JB Chemicals & Pharmaceuticals has wrapped up a $206m loan to support KKR’s acquisition of a majority stake in the company.

Chinese video-sharing platform Kuaishou Technology is planning to float in Hong Kong, having filed a draft prospectus with the city’s stock exchange.

Chinese pork producer Muyuan Foods saw lukewarm appetite among banks for its debut syndicated loan, which was closed at a smaller size of $140m.

Standard Chartered has appointed Michael Spiegel as global head of transaction banking, succeeding Lisa Robins, who is retiring from the banking industry.

The island nation of the Maldives received a fresh blow this week after Fitch Ratings downgraded the country by three notches to CCC due to external liquidity pressure and increasing debt burden.

Antengene Corp, a clinical stage biopharmaceutical company, is set to launch the roadshow for its Hong Kong IPO next week after wrapping up pre-deal investor education, according to a source close to the listing.

The Reserve Bank of Australia has announced plans to explore the potential uses and implications of a central bank digital currency using distributed ledger technology. The RBA follows the Banque de France, which last year worked with Société Générale to settle a crypto covered bond — a product that offers a number of ways to deploy blockchain technology.

Credit Suisse names Philippines head – MUFG hires from Mandiri – HKEX expands WVR scheme

Few readers of this column will have been able to avoid the temptation this week to continually hit refresh, hoping for a morsel of news on the US election. Whether you’re red, blue or polka-dot, the zig and zag of the election results has been compelling theatre.

The Shanghai Stock Exchange stunned the market on Tuesday by halting Ant Group’s $34bn IPO, set to be the largest listing in history, just two days before the company’s planned stock market debut. The extraordinary move is expected to delay the listing by at least six months. It will also force investors to revalue the company, write Jonathan Breen and Addison Gong.