Asia Pacific

Top Glove Corp, the world’s largest rubber glove maker, is considering a dual primary listing on Hong Kong’s stock exchange.

US senator Marco Rubio wants his government to find a way to delay the listing of Ant Group, even though it is happening outside of the US. The move would undoubtedly be bad news for US banks but it also appears to offer little upside to politicians.

China’s State Administration for Market Regulation (Samr) has imposed a Rmb2m ($298,000) fine on each of Luckin Coffee’s two main operating entities in China and three other companies, the highest possible penalty under the country’s competition law.

Simcere Pharmaceutical Group has begun its Hong Kong listing, opening books for the up-to HK$3.57bn ($460.6m) deal.

Fitch Rating’s China arm, Fitch (China) Bohua Credit Ratings, assigned its first domestic rating this week, five months after securing a licence in the world’s second largest bond market.

JSW Steel sold a $500m bond on Monday, but the issuer paid some 30bp of premium to close the trade.

Sina Corp, a Chinese internet firm that owns social media platform Weibo, is seeking a $2.08bn borrowing from onshore and offshore borrowers. It plans to use the money to delist from the Nasdaq.

Three high yield Chinese property issuers turned to the offshore bond market on Monday, raising $950m between them.

Paul Yang is set to take over as head of Asia Pacific at BNP Paribas, succeeding veteran banker Eric Raynaud, who will retire at the end of the year.

Two CEEMEA issuers mandated banks to arrange investor calls on Monday, although bond issuance volumes are expected to wane in coming weeks.

Chinese property managers Shimao Services Holdings and KWG Living Group Holdings have kicked off pre-deal investor education for a pair of Hong Kong listings.

Sharjah Electricity & Water Authority (SEWA), a state-owned firm in the United Arab Emirates, is making a rare appearance in the Asian syndicated loan market with a $250m borrowing.