Asia Pacific

Canara Bank has waived through a plan to raise new equity to the tune of Rp60bn ($830m) from a qualified institutional placement.

Shanghai Fosun Pharmaceutical Group is looking to spin off its biotechnology unit through a Hong Kong IPO.

In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.

In the final article on our GlobalRMB awards, we talk about the key innovation of the year and highlight the individual that has made the greatest contribution to the development of China’s cross-border capital markets.

China’s Dafa Properties Group has hit the road for its Hong Kong IPO, looking to pocket up to HK$996m ($127.3m).

Indian property lender Aavas Financiers wrapped up a three-day offer period for its Rp17.34bn ($239.2m) IPO on Thursday with just 97% of the deal covered.

Philippine food and beverage producer and distributor Universal Robina Corp is gauging appetite among banks for a NZ$420m ($278m) loan to refinance an old borrowing used to back the acquisition of New Zealand’s Griffin’s Foods.

Progress was announced this week on two drives to assess the risk of climate change to businesses. The Task Force on Climate-related Financial Disclosures (TCFD) now has 513 supporters; and Moody’s has updated its environmental risk heat map, showing that 11 sectors with $2.2tr of debt have elevated risk.

Among the host of sustainable finance-related announcements this week to coincide with the UN General Assembly session in New York, one of the most potentially significant is from the Impact Management Project.

The lengthy complaint about HSBC management drafted, purportedly, by investment bankers at the firm must be taken seriously and investigated, if its new chief executive John Flint wants to win the confidence of the rest of the staff and shareholders, argues Jon Hay in a GlobalCapital View.

There is not enough flash in the markets anymore. After a whole generation of Silicon Valley geniuses made billions while dressed like stoned teenagers, style and panache seem to have taken a back seat. Thank heavens for the old guard.

Energy and commodities trader Mercuria is back in the loan market for its annual fundraising, seeking a $1.1bn multi-tranche borrowing.