Asia Pacific
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Chinese biotechnology company InnoCare Pharma has won final approval for its Hong Kong IPO. The next step is marketing the deal, after delayed investor meetings in February. -
SBI Cards and Payments Services has kicked off its up to Rp103.4bn ($1.4bn) IPO, with over one quarter of the deal subscribed by anchor investors.
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Indonesia’s Buana Finance has returned to the offshore loan market after five years, seeking a $73m loan.
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Asian debt borrowers were able to skirt market volatility for much of last week, selling more than $9bn of bonds. But the market slump hit Asia hard as the week drew to a close and the jitters continued on Monday morning.
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In this round-up, the growth of novel coronavirus (Covid-19) infections outside China outpaced that reported by the country, Chinese regulators announced more loosening policies and the trade of wild animals for consumption is banned in the Mainland.
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In this round-up, the sell-off in equities continues to worsen as Covid-19 spreads, Hong Kong’s financial secretary forecasted a budget deficit of HK$139.1bn for the 2020-21 fiscal year, and China’s January non-financial outbound investment dropped by 9.5% in US dollar terms.
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Independent television producer China Bright Culture Group has launched bookbuilding for its IPO, aiming to raise up to HK$1.35bn ($172.9m).
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Zhejiang Geely Holding Group Co netted $400m from its bond sale on Thursday, as the market battled falling sentiment.
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Three Chinese real estate developers braved a volatile market on Thursday, raising $800m as fears around the coronavirus continued to ravage secondary prices.
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Hindustan Petroleum Corp (HPCL) has returned to the offshore loan market, mandating three banks for a $300m borrowing.
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Hengan International, a Hong Kong-listed Chinese producer of sanitary napkins and baby diapers, sold the first coronavirus-linked Panda bond on Friday. The red-chip issuer will spend 13% of the proceeds for the cause.
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The shock of the Covid-19 coronavirus outbreak has forced some rapid thinking among capital markets participants. Almost the first impact has been on travel.
