Asia Pacific

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.

Export-Import Bank of India has closed the syndication of a $500m loan after securing eight banks.

Geely Automobile Holdings is one step closer to becoming the first Chinese automaker to debut in the Star market, having received stock exchange approval for a secondary listing in Shanghai.

Mongolia returned to the dollar bond market on Monday, ending a nearly three year hiatus. The sovereign borrower pulled off a $600m liability management exercise that has taken care of the country’s upcoming bond maturities.

Fédération des Caisses Desjardins du Québec (CCDJ) mandated leads for its first dollar covered bond in a year on Monday. The issuer joins Sumitomo Mitsui Trust Bank, which on Monday crystallised plans to press ahead with its debut deal following a period of soft marketing, while Swedish non-conforming lender Bluestep Bank commenced marketing on Monday.

China will consolidate its two major inbound investments schemes, in a bid to drive more foreign capital inflows to the onshore financial markets.

Mizuho Financial Group will be looking to time the sale of a new senior deal very carefully this week, with euro market conditions still proving challenging for issuers.

In this round-up, Beijing plans to further ease foreign access to the onshore capital markets, Chinese industrial firms post rising profits and the securities regulator plans to loosen the rules for equity follow-ons.