Asia Pacific

China-based Kintor Pharmaceutical has kicked off bookbuilding for its Hong Kong listing, the latest in a stream of healthcare IPOs in the city. The issuer is targeting HK$1.86bn ($240.1m) in proceeds.

Asian Infrastructure Investment Bank is preparing to issue a global sustainable development bond as early as next week to finance its newly created Crisis Recovery Facility aimed at mitigating the economic impact of the coronavirus pandemic.

Peijia Medical bagged HK$2.34bn ($302m) from its IPO after winning huge support from institutional and retail investors, according to a source close to the deal.

In this round-up, the Chinese banking and insurance regulator fines three commercial lenders, the People’s Bank of China reviews the implementation of its monetary policy in the first quarter, and the pace of local governments selling bonds moderates in April.

Monday started on a quiet note for Asia’s bond market, with Indonesia’s Asahan Aluminium (Inalum) the only issuer to venture out. While deal windows are open, bankers say that borrowers are taking it slow.

Chinese hotel company Huazhu Group has returned to the equity-linked market, raising $450m from a bond convertible into its American Depository Shares (ADS).

Genius Auto Finance, a joint venture between Geely Automobile and BNP Paribas Personal Finance, is planning to kick off a Rmb4bn ($565m) auto loan ABS deal on Thursday.

Indofood CBP Sukses Makmur has sent out a request for proposals for a loan to back its acquisition of instant noodle maker Pinehill Company.

Hong Kong’s citizens are slowly returning to the office as the special administrative region loosens its Covid-19 linked restrictions. But as the world continues to battle the pandemic, bond syndicate teams are continuing to take a flexible approach to work, with some predicting a longer-term future of remote roadshows and hot-desking at banks.

Chinese company Kingsoft Cloud Holdings has raised $510m after boosting the size of its Nasdaq float.

China has made some much-needed changes to rules for foreign investors using the Qualified Foreign Institutional Investor scheme and its renminbi sister scheme, reviving some of the appeal of these access programmes.

In this round-up, China’s foreign exchange reserves see an unexpected rise last month, export data improves but imports drop, and the central bank is planning to issue three month and one year renminbi bills in Hong Kong next week.