Asia Pacific

State Bank of India is on track to raise about Rp15.6bn ($204.7m) from an offer-for-sale of shares in its life insurance arm.

Kangji Medical Holdings kicked off bookbuilding for its Hong Kong listing on Monday, aiming to raise up to HK$3.12bn ($404m) in proceeds.

Hong Kong power generator Castle Peak Power Co began marketing an energy transition bond on Monday morning, marking just the second transition bond to be sold in Asia.

Burning Rock Biotech, a Chinese cancer treatment firm, raised $222.8m from its US listing last Friday. The issuer's stock soared nearly 50% on its debut, after the IPO was priced above the initial guidance.

Hotel and casino operator Wynn Macau followed its gaming peers into the dollar bond market last Friday, but weaker market sentiment meant the borrower failed to tighten guidance on its $750m deal.

In this round-up, Beijing braces for a second wave of local infections from Covid-19, China's industrial production grows for a second straight month, and American Express secures a clearing licence onshore.

John Hempton, the Australian short seller and self-styled eccentric, believes fraudulent companies will soon become evident in the corporate rubble left by the coronavirus pandemic. Hempton, who has bet against 1,100 companies over the course of his career, explained how his hedge fund Bronte Capital goes about finding rotten eggs in business and finance.

Finland’s Municipality Finance returned to the domestic New Zealand dollar bond market on Friday after a long absence, to raise its largest Kauri bond since 2008.

Shanghai-based China Pacific Insurance (Group) Co has launched its IPO on the London Stock Exchange, firming up the deal size and the syndicate group on the listing. The deal was covered on Friday, its first day of bookbuild.

In this round-up, China’s central government pushes ahead with reform, both the consumer price index and the producer price index were weaker than expected in May, and aviation activity and car sales warm up.

Asian Infrastructure Investment Bank took home Rmb3bn ($424m) from its debut Panda bond on Thursday, at a price that was well below levels of its comparables. Senior officials at the Beijing-based supranational bank told GlobalCapital China that it wasn’t all smooth sailing, but the deal shows the potential of the renminbi debt market.

Belle International pocketed HK$2.91bn ($375m) this week after trimming its stake in subsidiary, Topsports International Holdings.