Asia Pacific

Surya Pertiwi, the sister company of listed Surya Toto Indonesia, has started pre-marketing for its own $150m IPO in the country.

The China Securities Regulatory Commission (CSRC) publishes plans to bring overseas-listed tech companies back to the Chinese equity market through depository receipts, policymakers emphasise the need to safeguard against systemic financial risks, and the Ministry of Commerce slaps tariffs on US goods.

As the introduction of weighted voting rights (WVR) and pre-revenue companies’ listings get nearer in Hong Kong, Clawback columnist Philippe Espinasse sees an opportune time for a quick take on the types of companies that the exchange — which is probably the most volatile of the world’s major primary markets — readily allows.

China is embarking on a trial programme to woo its homegrown technology giants, publishing guidelines for a China Depository Receipt (CDR) listing in the A-share market.

Debt bankers in Hong Kong were back after a four-day Easter break on Tuesday to some disappointing issuance numbers from the first quarter of the year. But with a decent pipeline of deals, they are keeping their fingers crossed for a pick-up in activity.

Adira Dinamika Multi Finance, an Indonesian finance company, has launched a $250m term loan into general syndication, about seven months after sealing its previous fundraising.

SK Innovation will sell a quarter of its stake in SK Lubricants through a W1.2tr ($1.2bn) IPO in South Korea next month.

Medikaloka Hermina has kicked off pre-deal investor education for a $250m IPO in Indonesia ahead of a mid-April launch.

Baidu-backed video streaming platform iQiyi has raised $2.25bn after pricing its Nasdaq IPO at the mid-point of guidance, according to a banker close to the deal.

The Singapore Exchange is at the final consultation stage for dual-class share listings, seeking feedback on safeguards against entrenchment risks, according to a document released on Wednesday.

Chinese government-owned Shougang Group Co spotted an opening in the debt market on Wednesday to execute an opportunistic $500m trade. It opted for a short tenor to speed up the process, while also satisfying investors’ preference for shorter-dated notes.

China’s National Development and Reform Commission (NDRC) and Hong Kong have signed an economic partnership agreement, solidifying Hong Kong’s role in the Mainland’s international fundraising activity.