Banks

Innovent Biologics launched its Hong Kong IPO on Monday to raise HK$3.3bn ($422.2m), with over 60% of the shares already sold to a large contingent of cornerstone investors — many of them double-dippers.

India’s Emami Cement is planning an IPO that could raise up to Rp10bn ($135.3m), having filed a draft prospectus with the country’s securities regulator.

Taiwan’s Mei Ta Industries has returned to the offshore market after three years for a €220m ($254m) dual tranche borrowing.

The advance of global warming, highlighted by the Intergovernmental Panel on Climate Change’s report this week, not only demands that the private sector accelerate efforts to cut carbon emissions. Companies must also adapt to the changing climate – and this will involve interacting in new ways, experts say.

Irish boutique investment bank Rubicon Infrastructure Advisors has hired two bankers with over 40 years of experience to expand its business into the UK.

Asia International School (AISL) is tapping the offshore market for a debut loan of up to $180m.

Milanese pharmaceutical firm Recordati was out with its CVC buyout funding this week — a €1.3bn bond, in a European high yield market that has mostly ignored Italy’s political fights. But on Thursday, volatility went global and investors started pressing for concessions. Recordati went ahead regardless, and priced on guidance.

The People’s Republic of China, acting through its Ministry of Finance (MoF), priced a $3bn return to the international bond market, pushing out its maturity profile to 30 years. But a weaker backdrop meant that the order book was not as strong as its dollar trade last year.

Vietnam’s Vinfast Trading and Production has raised a $950m guaranteed term loan to help it buy machinery and equipment from nine German suppliers.

Qingdao Haier has set final price guidance for its D-share IPO. The Chinese white goods maker is eyeing proceeds of up to €397.5m from a smaller than expected debut for the asset class.

China Fortune Land Development Co added $70m to its existing 2020 bonds in a quick tap this week.

Thailand Future Fund hit screens on Friday, with a set of cornerstone investors looking to help get its Bt44.7bn ($1.4bn) IPO across the line.