Asia Pacific

Warburg Pincus-backed Computer Age Management Services, an Indian finance-focused technology firm, is set to launch its IPO of up to Rp22.4bn ($305.2m).

Bond sales from Chinese issuers continued unabated on Thursday despite heavy supply in the first half of the week, with firms raising a combined $1.1bn from the debt market.

Formosa Plastics Corp is seeking a $2bn loan that bankers expect to be priced at a record low for borrowers from Taiwan, setting a benchmark for future transactions.

If UBS’s reported exploration of a merger with Credit Suisse actually leads to a tie-up at some point, it would create a formidable European investment bank.

Unibail-Rodamco-Westfield, one of the world's largest owners of shopping malls, launched a €9bn-plus turnaround plan on Thursday, which includes a €3.5bn rights issue. The aim of is to reduce its leverage to help it withstand the Covid-19 pandemic.

The People’s Bank of China has started to allow banks seeking quotas to sell non-performing loan securitizations to shift from the old approval-based system to a registration-based system, onshore bankers told GlobalCapital China this week. The reform is set to speed up the pre-issuance phase and ease banks’ increasing pressure to dispose of bad loans.

Big Hit Entertainment, the label behind hugely popular K-pop boy band BTS, this week launched bookbuilding for an IPO that will be worth as much as W962.6bn ($818.4m). The company is the latest to ride a wave of demand sweeping the country’s stock market, causing an over-heating that is pushing prices dangerously high, said bankers. Jonathan Breen reports.

Industrial and Commercial Bank of China raised a smaller than planned $2.9bn from its additional tier one outing, buffeted by a surge in supply this week and a softer market backdrop. Alice Huang reports.

Haitong hires IB vice-chairman – Bank of America recruits from HSBC

US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

Bank of China took yet another step this week to build China’s sustainability market by selling Asia’s first blue bond to benefit ocean-related projects — opening the door for similar deals from the region. Morgan Davis reports.

Hong Kong Broadband Network is enticing banks to a HK$5bn ($645m) loan by offering them a juicier margin than previously.