Asia Pacific

Flushed with years of popularity in Germany and its neighbouring countries, Schuldschein arrangers have begun to look across the globe for new borrowers to tempt to the market. This year has brought the first transaction from India, and many say Reliance Industries’ success may spur more non-European entities to target the Schuldschein investors. Silas Brown reports.

Shares in Huatai Securities, the Chinese brokerage, rose as much as 12% on Monday morning after the company’s global depositary receipts began trading in London via the London-Shanghai Stock Connect programme.

A group of US senators have proposed a bill that threatens to block the IPOs of many Chinese companies in the country, and cause the delistings of mainland stocks from US exchanges.

In this round-up, the Mainland’s industrial production and other activity slowed in May, the Chinese foreign ministry urged the US to stop interfering with the country’s ‘internal affairs’ and the People’s Bank of China (PBoC) tried to calm the market again regarding Baoshang Bank’s bailout.

China’s Kingboard Chemical Holdings has returned to the loan market for a HK$5bn ($638.7m) facility, a year after sealing a larger deal.

The Shanghai Stock Exchange (SSE) has introduced rules for daily trading limits, limit order price ranges and treatment of ‘abnormal fluctuations’ for the Star Market, its new technology innovation board that is in its final preparation stage.

China’s Ascentage Pharma Group International and CIMC Vehicles kicked off pre-marketing for their respective Hong Kong IPOs on Monday. Both are expected to launch bookbuilding by the end of June.

Packing company Dynapack Asia is tapping the loan market for the first time, seeking a S$250m ($182m) borrowing.

Singapore’s sovereign wealth fund GIC has bagged Bt9.1bn ($290.7m) after offloading its position in Thai property developer Land & Houses, according to a source close to the deal.

Chinese components manufacturer Impro Precision Industries has opened books for its HK$1.1bn ($140.49m) IPO after receiving Hong Kong Stock Exchange approval for its float.

Philippine National Bank (PNB) has announced the offer price for its stock rights offering.

Tata Capital Housing Finance has launched a $75m debut borrowing into the market, as another subsidiary of the Tata Group also seeks a separate maiden facility.