Top Stories
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Chinese tech duo slash IPOs in choppy markets
Hong Kong IPO hopefuls Babytree Group and Tongcheng-Elong Holdings announced deals drastically smaller than their initial targets this week. But despite the clear sign of trouble in the market, a few more Chinese companies are considering pushing ahead with their own listings before the end of the month. Jonathan Breen reports.
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Interloop plans Pakistan’s largest private sector IPO
Interloop, a Pakistan-based sock supplier for sports brands Nike and Adidas, intends to list on the domestic stock exchange, in what would be the country’s largest listing from a private sector company.
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Babytree kicks off smaller $281m Hong Kong IPO
China’s Babytree Group has thrown open books for a potential HK$2.2bn ($280.9m) IPO, paring down the size from its original $800m target, according to a banker close to the deal.
Equity-linked
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JPM taps Ping An-linked EB again for $85m
JP Morgan sold its second tap of equity-linked notes using the Hong Kong-listed shares of Ping An Insurance Group Co of China as the underlying securities, this time raising $85m.
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Vinpearl steers $125m EB tap in volatile market
Vinpearl raised $125m on Thursday night after tapping a $325m exchangeable bond sold in June, managing to navigate the sea of red in equity markets.
Comment
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Hong Kong ECM: apply Sod’s law
Clawback columnist Philippe Espinasse says the latest proposals by Hong Kong’s Law Society could spell bad news for international securities lawyers in the city.
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 16,522.26 | 78 | 7.58% |
| 2 | Morgan Stanley | 14,119.84 | 65 | 6.48% |
| 3 | Citi | 14,051.62 | 90 | 6.44% |
| 4 | UBS | 12,377.19 | 76 | 5.68% |
| 5 | China International Capital Corp Ltd | 10,849.77 | 43 | 4.98% |
From Our Global Coverage
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New index spotlights Big Food for US obesity
The first US Access to Nutrition Index has been published for investors, aiming to guide them on which big food companies are doing better and worse at feeding the American public healthily.
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UK credit bashed wider by Brexiteer resignations
When market makers start sending runs (lists of prices) based on nation states rather than sectors it may be a harbinger of fundamental change in how European credit is traded.
More from Asia
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Bank Profiles
Latest news by market and league table performance
Panda Bonds Top Arrangers
| Rank | Arranger | Share % by Volume |
|---|---|---|
|
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| 1 | China Merchants Securities Co | 16.70 |
| 2 | Industrial and Commercial Bank of China (ICBC) | 14.38 |
| 3 | CITIC Securities | 10.44 |
| 4 | Agricultural Bank of China (ABC) | 9.08 |
| 5 | China CITIC Bank Corp | 8.17 |
Bookrunners of Asia-Pac (ex-Japan) ECM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 16,522.26 | 78 | 7.58% |
| 2 | Morgan Stanley | 14,119.84 | 65 | 6.48% |
| 3 | Citi | 14,051.62 | 90 | 6.44% |
| 4 | UBS | 12,377.19 | 76 | 5.68% |
| 5 | China International Capital Corp Ltd | 10,849.77 | 43 | 4.98% |
Bookrunners of Asia Pacific (ex-Japan) G3 DCM
| Rank | Lead Manager | Amount $m | No of issues | Share % |
|---|---|---|---|---|
| 1 | HSBC | 22,501.46 | 195 | 7.41% |
| 2 | Citi | 22,176.06 | 147 | 7.30% |
| 3 | JPMorgan | 14,738.77 | 90 | 4.85% |
| 4 | Bank of America Merrill Lynch | 12,958.17 | 82 | 4.27% |
| 5 | Goldman Sachs | 11,835.27 | 58 | 3.90% |
Asian polls & awards
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GlobalRMB awards: Most impressive issuers, best law firm
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.
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GlobalRMB awards: Person of the year, most impressive innovation
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.
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GlobalRMB awards: Best bank for securities services
Securities services was one of the most competitive award categories GlobalRMB had to decide this year. Our awards criteria demanded the near-impossible from participating banks: to beat the competition in the fast-changing China access scheme, while at the same time demonstrating a broad client base and the ability to be at the cutting edge of innovation.
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GlobalRMB awards: Best for ABS, CNH, G3 and Panda bonds
In GlobalRMB's Best Bank Awards for China DCM, Standard Chartered wins for ABS and CNH, HSBC takes home the G3 Bond House Award, and Bank of China gets kudos as the Best House for Panda bond issuers.
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Now open! GlobalCapital Asia Capital Market Awards 2018
GlobalCapital Asia is pleased to invite pitches for our annual capital markets and investment banking awards, rewarding the most impressive transactions and investment banks of 2018.
