Asia Pacific

The shares of Chinese plastic surgery social network So-Young International surged on their first day trading on the Nasdaq, after the firm priced its hot IPO at the top of guidance.

China’s Suning Financial Services, a subsidiary of home appliance company Suning Holding Group, is tapping the offshore loan market with a $300m borrowing.

In this round-up, the trade negotiation between China and the US finished its tenth round, China PMI fell in April after previously rebounding and the chairman of the banking and insurance regulator promised more reform.

Indian life insurer HDFC Life Insurance (HDFC Life) has launched its second sell-down within two months.

Energy services group Serba Dinamik Holdings raised $300m from a three year wakala sukuk on Thursday, before watching the bond quickly trade up in the secondary market.

China’s Zai Lab has priced a follow-on sale of 7.8m American Depository Share (ADS), its second since its listing on the Nasdaq.

Canadian Imperial Bank of Commerce issued its second Australian dollar deal of the year on Thursday. The senior unsecured short-term debt is not subject to Canadian bail-in regulation.

Uzbekistan is now the focus of emerging and frontier markets, as international investors, buoyed by the success of Kazakhstan’s privatisation programme, clamber to be in the first wave of opportunities the country is to offer, writes Sam Kerr.

Viva Biotech Holdings has pulled off an impressive HK$1.52bn ($194m) Hong Kong IPO, striking retail gold as the local public swamped the deal, grabbing half of the stock for themselves. The high level of retail interest is a rarity for IPOs in the city and something that is often unwanted, bringing potential wild price swings to a stock soon after listing, say some bankers. But others foresee enough institutional demand to swallow any bulk selling in the first days of trading. Jonathan Breen reports.

Indonesian property developer Alam Sutera tapped its 6.625% 2022 notes on Tuesday, raising $125m from the trade.

Although the Shanghai Stock Exchange (SSE) has received 98 applications from companies hoping to launch an IPO on its new tech board, a lengthy and complicated approval process has revealed some of the problems facing potential listing candidates. Meanwhile, there are doubts over some of the investors preparing to buy into the market. Rebecca Feng reports.

Duiba Group raised $667m after concluding its second attempt at listing on the Hong Kong Stock Exchange.