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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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China Literature made jaws drop this week when its shares doubled on their debut in Hong Kong, giving it the best first day close in the world this year.
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China has long been cautious about opening up its capital markets as it learn from the lessons of other economies. But while such prudence has helped China avoid a crisis, it must not turn succumb to hubris and a wholesale rejection of the West’s experience.
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China Power International Development has tapped Bank of America Merrill Lynch to underwrite a cash call that could raise up to HK$4.5bn ($573m) for an acquisition.
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Redco Properties Group managed to tighten pricing on its 364-day bond by a hefty 50bp on Wednesday, bagging $250m from the issuance. But the yield still appealed to the buy-side, with investors pumping in $1.6bn in orders at its peak.
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The State Council officially launched the financial stability and development committee (FSDC) – a new organ to co-ordinate financial reform and regulations – on November 8, appointing Ma Kai, vice-premier, as chairman of the committee.
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Property developers Yango Group Co and Jiayuan International Group are marketing new dollar bonds on Thursday. The former has opted for a three year, while the latter is choosing to go short with a 364-day deal.
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