Asia Pacific

Drug developer SK Biopharmaceuticals priced its IPO high last Friday, netting W959.3bn ($792m), according to a source close to the deal.

Kangji Medical Holdings has bagged HK$3.59bn ($464.2m) after pricing its Hong Kong listing at the top of the marketed range.

In this round-up, the Chinese capital of Beijing conducts nucleic acid tests for Covid-19 on 2.3m local residents, the central bank leaves the benchmark lending rate unchanged for June, and a subsidiary of AIA is set to become China’s first wholly foreign owned life insurance company.

Far East Horizon, a Hong Kong-listed financial services firm, has launched a $1bn loan into general syndication.

In this round-up, Chinese banks and financial institutions are asked to hold back profit growth in 2020 to pump funds to the real economy, foreign strategic investors will have better access to listed companies, and regulators give JP Morgan full control of its futures joint venture and MUFG a bond settlement agent licence.

In this round-up, officials claim the second wave of local infections of Covid-19 in Beijing is under control, top Chinese financial regulators gather and deliver speeches at a high-profile event in Shanghai, and US president Donald Trump says that a “complete decoupling” from China is on the table.

Bank of China (BOC) raised $1bn from a dual tranche transaction at a negative premium on Thursday, after strong demand from its large syndicate group.

Hygeia Healthcare Holdings is on track to price its Hong Kong IPO at the top of the marketed range, according to a source close to the deal.

Philippine fast food operator Jollibee Foods Corp made a quick return to the dollar market on Thursday, attracting investors to its dual-tranche bond despite the impact the coronavirus has had on its business.

China Oilfield Services (COSL) sold its first dollar bond in five years on Thursday, nabbing $800m from a dual-tranche deal.

Kenneth Lee, a veteran in Asia’s bond market, has left Natixis to take a new job at Mizuho.

Taiyuan Longcheng Development Investment Group Co, a local government financing vehicle (LGFV), has raised $300m from a three year bond.