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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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  • The Standard Chartered (StanChart) RMB Globalisation Index dropped further in June to a two year low of 1,933 points on the back of poor cross-border renminbi payment volumes, the bank said on August 9.
  • Two of India’s largest life insurers, HDFC Standard Life Insurance Co and Max Life Insurance Co, have finalised the terms of their merger and subsequent listing on the country’s stock exchanges.
  • Samsung Group’s drug manufacturing arm is set to file a draft prospectus with the Korea Exchange this week for an IPO that could raise up to W3tr ($2.7bn), according to a source with direct knowledge of the matter.
  • MMC Corp, owned by Malaysian tycoon Syed Mokhtar Al-Bukhary, is considering spinning off its port assets in an IPO that could raise $750m-$1bn, according to sources close to the matter.
  • Industrial Bank of Korea is poised to reach out to offshore and onshore bond investors for Basel III additional tier one capital later this year.
  • Standard & Poor’s has upgraded South Korea’s long-term sovereign credit rating by one notch to AA from AA- with a stable outlook, in line with Moody’s Aa2 rating of the country.
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