Asia Pacific

Smoore International Holdings, a manufacturer of vaping technology, is lining up a Hong Kong IPO of more than $500m in the first quarter of 2020, according to a source familiar with the matter.

The Securities and Futures Commission has fined RHB Securities Hong Kong HK$6.4m ($821,516) for failing to comply with a number of regulatory requirements.

Singapore-based Orient Futures International has become the latest trading and clearing member of the Singapore Exchange (SGX) derivatives market.

Blackstone-backed Mindspace Business Parks Real Estate Investment Trust (Reit) is preparing an IPO of new and existing stock, set to be just the second listing from the asset class in India.

Industrial Securities (Hong Kong) Financial Holdings, Zhengzhou Zhongrui Industrial Group Co and Shandong Iron & Steel Group Co priced international bonds during the last days of 2019, capping a strong year for Asia’s debt market.

It is set to be a busy start to 2020 for the Hong Kong Stock Exchange, with three live IPOs in the market. The most recent launch came from Shanghai Gench Education Group, which hit the road with a HK$773m ($99.2m) deal on Thursday.

Chinese solar power operator Panda Green Energy Group has extended the deadline of a distressed exchange offer. The new note issuance will now be finalised in the same week that its $350m bond becomes due.

Pakistan has started the year by rejigging rules for IPOs in the country, in a bid to revive its fledgling stock market by attracting more listings.

VPBank Finance Company, the consumer finance arm of Vietnam Prosperity Joint Stock Commercial Bank, has increased the size of its loan to $200m after seven banks joined during general syndication

Danakali, an Australian potash company, has raised a $200m credit facility from African lenders. Proceeds of the syndicated facility will go towards funding the planned Colluli potash project in Eritrea.

In this round-up, Chinese president Xi Jinping headed to Macau for the 20th anniversary of the handover, the National People’s Congress will hold a fourth reading of the Securities Law next week and the People’s Bank of China (PBoC) has lowered the 14-day reverse repo rate.

In this round-up, state buyers are set to bail out Shandong-based Hengfeng Bank, the renminbi’s international usage rebounded in November after a slight drop in October, and Sumitomo Mitsui Financial Group’s securities brokerage affiliate plans to set up a wholly-owned China unit.