Asia Pacific

Beijing Kunlun Tech is revisiting plans to list gay dating app Grindr after winning approval for the IPO from a US national security panel, according to a stock exchange filing from the parent on Monday.

Banks in Japan might not be able to copy the structure of SMBC’s debut covered bond, resulting in a lack of uniformity in the market that may cause concern among investors. This stands in contrast to Korea, where banks are now exploring issuing in Korean won as there is a law in place that supports these instruments.

Bank of Jinzhou got a much-needed liquidity boost after China Great Wall Asset Management, China Cinda Asset Management and ICBC Financial Asset Investment acquired more than 17.3% of its shares.

Chinese media company Wanda Sports Group has raised just $190.4m after pricing its Nasdaq listing below the marketed range, despite having already revised down the initial guidance and size of the IPO.

India’s plan to sell its first international bond has been caught in a battle of wills between the ministry of finance and the government. While any issuance is likely to be received well by the market, the sovereign should hold off on a deal until it is ready to present a united front to investors.

Industrial & Commercial Bank of China’s London-based head of global loan syndication will be moving to the Asian Infrastructure Investment Bank in Beijing.

Temasek Holdings-backed Fullerton India Credit Company has invited banks to join a $250m debut borrowing.

Punjab National Bank is planning a return to the equity market with a Rp50bn ($725.5m) transaction, a year and a half after tapping investors for the same amount.

In this round-up, Industrial and Commercial Bank of China bought an 11% stake in troubled Bank of Jinzhou, some Star-listed companies will become eligible for trading on the Stock Connect and the People’s Bank of China (PBoC) plans to tighten supervision of financial holding companies.

Hong Kong-headquartered AMTD International has launched bookbuilding for its New York Stock Exchange listing, seeking to raise up to $176m.

Shanghai-based and Hong Kong-listed chipmaker Semiconductor Manufacturing International Corp has sold a Rmb2bn ($291m) 270-day red Panda.

Chinese provincial government-owned Shandong Hi-Speed Group Co has pushed out its maturity profile with a $1.4bn dual-tranche transaction. It priced the senior perpetual tranche at the same level as some of its bigger state-owned peers, thanks to a six times covered order book.