Asia Pacific

Impro Precision Industries revived its Hong Kong IPO plans on Monday, resubmitting its listing documents to the exchange.

India’s Reliance Industries has launched its long-awaited refinancing of around $2.7bn into general syndication, one month after mandating 17 lead banks to run the transaction.

Cambodian microfinance institution Hattha Kaksekar (HKL) is poised to sell the country’s first bond later this year.

Zhejiang New Century Hotel Management, a unit of Chinese billionaire Chen Miaolin’s New Century Group, has filed for an IPO in Hong Kong.

CPI Ronghe Financial Leasing, a subsidiary of State Power Investment Corp, has made a quick return to the loan market for $300m, nine months after signing its last borrowing.

Jose Arnulfo “Wick” Veloso, who resigned from HSBC earlier this month, will replace Philippine National Bank head Reynaldo Maclang in November.

Chinese property developer Wuzhou International Holdings has failed to redeem a $100m convertible bond as well as part of a Rmb500m ($73m) onshore note, announcing the breaches just months after defaulting on a $300m bond.

The People’s Bank of China brings back old policy to control RMB exchange rate, mainland and Hong Kong authorities set the date for launching investor ID for northbound Stock Connect transactions, and the Chinese securities watchdog allows foreign investors to take majority stakes in futures companies.

Shares in India-traded Hexaware Technologies plunged after an overnight block sale in the company last week that netted Rp11.2bn ($159.6m) for Baring Private Equity Asia.

Sapura Energy is looking to raise MR4bn ($976m) for a recapitalisation exercise from a combination of a rights and warrants issue and a sale of preference shares.

It has been more than a decade in the making, but China is said to have at last finalised draft guidelines for Panda bond issuers, giving the market some much-needed clarity. But questions still remain, especially around the repatriation of proceeds. Paolo Danese reports.

Australia bars Huawei and ZTE from providing 5G services in the country, Malaysian leader pulls country out of Belt and Road projects, and the Shanghai Stock Exchange hosts the issuance of the first local government bond with a tenor of 20 years in China.