Banks

The €173m IPO of hGears, the German maker of high-precision gears for e-mobility, is more than three times covered, ahead of final pricing later today.

Chinese issuers Redsun Properties Group and Shandong Hi-Speed Group Co have hit the offshore bond market, grabbing a brief issuance window ahead of a public holiday on Wednesday.

Viva China Holdings has raised HK$3.8bn ($491.4m) after offloading a block of shares in Chinese sportswear manufacturer Li Ning Co, according to a source familiar with the matter.

Nomura’s Asia ex-Japan healthcare investment banking head, Vijay Karwal, has left the firm after a three year stint to join a biopharmaceutical company.

Singapore’s food and agri-business Olam has raised a $1bn loan to support its acquisition of US spices and seasoning company Olde Thompson.

Barclays has hired Mani Joseph from Goldman Sachs to lead its Asia special situations team.

Property manager Central China Management Co has kicked off the roadshow for its IPO. It is aiming to raise up to HK$1.05bn ($135.2m).

A senior China DCM banker from HSBC is taking a new position at CLSA, the international platform of China's Citic Securities.

Property developer China Vanke Co brought a rare investment grade-rated corporate deal to the offshore renminbi (CNH) bond market on Monday, pricing the deal inside its dollar curve after a warm response from investors.

Michelle Wang, who left JP Morgan more than a decade ago, has returned to the bank as its new co-head of China investment banking coverage.

UBM Development, the Austrian property company, issued last week what it believes is the eurozone’s first sustainability-linked retail bond — bringing one of the hottest techniques in corporate finance to a traditional market that has dwindled in the recent climate of negative interest rates.

TD Securities has hired a senior debt capital markets syndicate banker from SMBC Nikko Capital Markets in London, to handle new issues from corporate and financial issuers.