Asia Pacific

China Yangtze Power has raised $1.8bn from a smaller-than-expected offer of Global Depositary Receipts in London, sealing only the third listing through the London-Shanghai Stock Connect scheme.

In this round-up, Xi Jinping reveals plans for the country to become carbon neutral by 2060, FTSE Russell decides to include Chinese government bonds in its flagship index, and the State Administration of Foreign Exchange resumes granting new outbound investment quotas.

FTSE Russell plans to add Chinese government bonds to its flagship FTSE World Government Bond Index (WGBI) next year, a move that is expected to provide investors further access to the world’s second largest bond market.

The government of Pakistan is seeking banks to offer advice on the sale of planned dollar bonds and sukuk in the international capital market.

China’s Minth Group, an auto parts company, has closed its debut loan at a bigger size of $200m.

Korean video game publisher Krafton has invited local and international banks to pitch for a spot on its IPO.

Biopharmaceutical firm Everest Medicines has hit the road for its up to HK$3.5bn ($451m) Hong Kong IPO.

Telecom operator Robi Axiata has won approval from Bangladesh’s securities regulator to list for Taka5.2bn ($61.9m), making it the country’s largest IPO.

China Huarong Asset Management offered investors a new issue premium to get its $1.2bn three-tranche bond past the finish line, a move that resulted in a three times covered book with decent support from real money accounts.

Kingsoft Cloud Holdings, backed by smartphone maker Xiaomi Corp, has raised $509.1m from a follow-on offering of American Depositary Shares, according to a source familiar with the matter.

Baozun, a Nasdaq-listed e-commerce solutions provider, raised HK$3.3bn ($427.5m) from its secondary offering in Hong Kong this week, wrapping up the deal on strong international demand.

Thailand’s IPO market got a boost this week with SCG Packaging launching what is set to be the country’s largest listing since Covid-19 hit earlier this year. International and local investors have already swamped the deal, which is expected to raise up to Bt39.5bn ($1.25bn), writes Jonathan Breen.