Banks

LinkDoc Technology, a cancer-focused medical data company, has shelved its US IPO just hours before pricing, as Chinese technology stocks recoil from Beijing’s clampdown on overseas listings.

Indian unicorn Zomato, a food delivery service, has set the final terms for its up to Rp98.9bn ($1.32bn) IPO.

Xiaomi Corp sold an $800m 10 year bond and a $400m 30 year bond this week amid a difficult market for Chinese bonds and technology companies. But the mobile phone maker's green tranche, as well as its business model, attracted investors and allowed for tight pricing. Morgan Davis reports.

China Modern Dairy Holdings, a milk producer, has raised $500m from its first international bond.

Chinese toll road operator Zhejiang Expressway has sold its inaugural dollar bond, raising $470m.

Commerzbank has tapped Jack Jiang as head of capital markets and advisory for Asia.

Chinese securities house Shenwan Hongyuan Securities bagged $500m from its five year bond sale on Wednesday.

Sterling investors had their choice of ultra-long dated corporate bonds on Wednesday, as charitable foundation the Wellcome Trust and Flagship Housing Group printed 50 and 40 year paper, respectively.

The disparity between ratings and spread levels was highlighted in the euro high grade corporate bond market on Wednesday, after German conglomerate JAB Holdings opened books on a deal 40bp wide of lower rated Italian utility A2A, despite the same maturity and size.

KfW braved a volatile rates backdrop to reopen the primary dollar public sector bond market on Wednesday. Dexia Credit Local is looking to follow with a deal in the same currency and tenor on Thursday.

Hipgnosis Songs Fund, the £1.6bn music royalties investment company, has wrapped up its seventh equity raise since its London Stock Exchange IPO in July 2018.

A trio of green labelled debuts attracted “slim” demand on Wednesday, as the three senior deals had to compete with a flurry of other trades for a slice of the shrinking pre-summer investor pool.