Asia Pacific

Shanghai Henlius Biotech, which is being spun off by Shanghai Fosun Pharmaceutical (Group) Co, started gauging investor interest for its Hong Kong IPO on Monday, despite a choppy market.

Megvii Technology, a Chinese artificial intelligence (AI) company best known for the facial recognition platform Face++, has set the ball rolling for its dual-class share listing in Hong Kong.

China Industrial Securities International Financial Group kick-started the new week for the debt market with a $200m bond on Monday.

Credit Suisse has added two new bankers to its investment banking and capital markets team (IBCM) in India.

The China Securities Regulatory Commission (CSRC) has approved the appointments of a number of directors at JP Morgan’s new China securities joint venture, including its head of investment banking.

The liquidity situation at China’s Qinghai Provincial Investment Group Co has taken a turn for the worse after the company missed a dollar bond coupon last week. A treasurer at the government-owned issuer denied media reports that it made the overdue payment last Friday.

Credit Suisse has merged its loan and bond syndicate teams into a new unit effective late last week, according to a source close to the situation.

China’s Joy City Property has returned to the loan market for an up to $800m facility.

Indian company Alphalogic Techsys kicked off bookbuilding for its IPO on Monday and is on track to become the first listing on BSE’s new startup board.

South Korean conglomerate Lotte has filed documents for the IPO of a real estate investment trust (REIT), looking to raise up to W430bn ($353m).

In this round-up, the tit-for-tat trade tariff situation between the US and China escalated over the weekend, and the People’s Bank of China (PBoC) issued detailed rules for benchmarking mortgage borrowers to the recently unveiled loan benchmark rates.

The Indian government is preparing to make its final pick of bookrunners for the divestment of its stake in railway construction firm Ircon International.