Asia Pacific

Haidilao International Holding, a Chinese hotpot restaurant chain, has filed for an IPO in Hong Kong that could raise around $1bn.

Credit Suisse has made two new hires for its electronic trading business in Australia, as it adds resources to launch a new algorithmic platform in the region.

The Chinese vice premier is in the United States for trade talks, policymakers highlight concerns about systemic financial risk, and officials in Shanghai say foreign financial institutions are setting up operations in the city after China announced measures to further open up the onshore market.

China keeps growing its stockpile of US Treasury bonds, the government of Bangladesh may issue a Panda bond following the acquisition of the Dhaka Stock Exchange by two Chinese bourses, and foreign asset managers and insurance firms are expanding their onshore presence.

Singapore’s Reit issuers continued to tap the equity market with gusto this week, as CapitaLand Commercial Trust competed a S$217.9m ($162.3m) fundraise while Manulife US Real Estate Investment Trust launched a $197.2m rights issue.

The movement to create free investment benchmarks to support the Sustainable Development Goals is gathering pace, with the launch this week of a major survey of corporate human rights performance.

Two IPO applications in Hong Kong this week — one from a bitcoin hardware maker and the other a Chinese state-owned enterprise — highlighted the tussle for investor attention between old and new economy companies.

Chao Li has resigned as head of Asia bond syndicate at Standard Chartered.

Even the best laid plans often go awry. Despite hours of preparation and accounting for every worst case scenario, one young banker has learned that sometimes accidents just happen.

Two Chinese transactions on Wednesday served as perfect examples of how duration can make a difference. Greenland Holding Group Co’s $500m sub-one year bond attracted a larger-than-expected order book, while China Overseas Grand Oceans Group (Cogo) had to pull a five year trade as a result of insufficient demand.

HSBC’s China subsidiary returned to the domestic bond market on Tuesday, issuing a Rmb3bn ($473.6m) three year bond, trading on the bank’s name recognition onshore.

Hong Kong’s market watchdog reprimanded and fined Citi on Thursday for its work as a sponsor on the 2009 IPO of China-based Real Gold Mining.