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Executive is moving to more senior role
India is on track for a record year of IPOs. Global tech giants continue to plough capital into a fast-growing consumer economy that is investing heavily in ensuring it’s a major player — along with the US and China — in an AI-first world
◆ Deal finds demand despite arrest of South Korea's president ◆ High single digit concession left for investors ◆ Leads added spread to calm concerns
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  • Larsen and Toubro has kicked off a two-day offer-for-sale in subsidiary L&T Technology Services, eyeing proceeds of up to Rp9bn ($126.3m).
  • S&P Global Ratings, which this week became the first international rating agency permitted to rate Chinese domestic deals, plans to start its business gradually. The firm will initially concentrate on renminbi deals sold by its existing clients.
  • Nio, the Chinese electric car company, has launched bookbuilding for a convertible bond that will be worth as much as $650m, according to a source close to the deal.
  • The securities market in Hong Kong will fully transform into a paperless model as early as 2022, in the hope of speeding up transactions, according to a joint consultation proposal made by the Securities and Futures Commission (SFC) and Hong Kong Exchange and Clearing (HKEX).
  • Fosun International, China Grand Automotive Services and China Molybdenum Co rushed out to the offshore bond market on Monday, helping kick-start a rush of issuance before Chinese New Year.
  • ‘Tier two’ and ‘sustainability’ are labels that have never previously been combined in Asia. At least not until this week, when Kookmin Bank raised $450m from a Basel III-compliant deal.
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