Asia Pacific

Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

JHBP (CY) Holdings, a holding company for China’s Genor Biopharma, hit the road for its Hong Kong IPO on Wednesday. It is aiming to raise up to HK$2.9bn ($371.2m).

Power Construction Corporation of China (PowerChina) was back in the dollar market with a perpetual bond on Tuesday, nearly a year after its last deal.

India’s Power Finance Corp has mandated two banks for a $200m loan, and bankers expect the firm's government ownership will draw a strong response in syndication.

The Asian Infrastructure Investment Bank and the New Development Bank made a big splash in the dollar market on Tuesday, despite facing worse volatility than expected as fears over the coronavirus pandemic grew.

The Australian Office of Financial Management (AOFM) has launched its fourth syndication of its 2020/21 year.

JD Health International, the healthcare arm of Chinese e-commerce firm JD.com, is set to list on Hong Kong’s stock exchange by the end of the year.

India’s Glenmark Pharmaceuticals has returned to the loan market after an absence of more than 10 years. It is seeking a $175m deal.

Taiwan’s Chailease International Finance Corp has launched its fifth loan of the year to the market. It is eyeing up to $100m through its Thailand subsidiary.

Commodities company Mercuria has returned for its annual borrowing of $980m. This time, it is enticing banks with a 10bp Covid-19 premium on the loan margin and fees.

The State Administration for Market Regulation (Samr) has concluded a five month investigation into Luckin Coffee over unfair competition, fining the company and nearly four dozen others that were also involved a total of Rmb61m ($9m).

SCG Packaging is set to begin investor presentations for its up to Bt39.5bn ($1.26bn) IPO, which will be Thailand’s second largest listing in 2020.