Asia Pacific

Equity capital markets bankers are heralding the success of emerging markets IPOs set to be priced in the coming days and weeks, including the flotations of Russia’s Sovcomflot, Lithuania’s Ignitis, Saudi Arabia’s BinDawood and Kazakhstan’s Kaspi.

Lippo Malls Indonesia Retail Trust is in discussions with banks for a S$120m ($87m) loan that will support its acquisition of shopping malls in Indonesia.

Hong Kong’s stock exchange has named an interim replacement for chief executive Charles Li, who is stepping down at the end of the year after more than a decade leading the bourse.

China Evergrande Group reached an agreement with a group of strategic investors to avoid upcoming repayments, easing recent concerns on a potential liquidity squeeze for the company.

Chinese data centre operator Chinadata Group Holdings has guided investors to the top of price guidance for its Nasdaq listing, eyeing $540m from the deal, according to a source familiar with matter.

China Merchants Port Holdings Co (CMP) paid a generous premium to close a $600m dual-tranche bond on Tuesday, responding to weakness in the secondary prices of similar deals.

Singaporean sovereign wealth fund Temasek made a successful return to the dollar bond market on Tuesday, raising $2.75bn from 10 year, 30.5 year and 50 year bonds.

Ping An Healthcare and Technology Co has raised HK$7.86bn ($1.01bn) after a primary share sale which drew strong demand from its existing investors, said a source familiar with the matter.

Frasers Centrepoint Trust, a real estate investment trust (Reit), raised S$575m ($419.1m) on Monday evening from a sale of new units.

Sri Lanka is facing serious fiscal pressure, a result of the dire economic impact of the coronavirus. That led to a downgrade from Moody’s this week, which lowered its rating by two notches. All three major rating agencies have now downgraded the country this year.

South Korea is in the middle of an equity bubble. Investors are piling in at a rate not seen in the past decade, pushing stock valuations in secondary and primary markets far above realistic levels. Companies should make the most of this opportunity – it won’t last.

China’s Weihai City Commercial Bank has launched its Hong Kong IPO and is aiming to raise HK$3.1bn ($397.3m) from the deal.