Banks

Futu Holdings, parent of Hong Kong-based brokerage Futu Securities, has kicked off bookbuilding for a follow-on of primary stock.

Two agencies were out with dollar mandates on Monday and more public sector borrowers could follow with deals this week as a rise in US Treasury yields boosts demand for SSA dollar bonds.

Royal Bam group, the Dutch construction company, has negotiated a waiver on its loan covenants before they were due to be tested this week. Some loans bankers say that similar agreements are expected to be made across multiple industries for the rest of the year.

Investment grade corporate funds are swimming against the tide of other assets and seeing a steady stream of money flowing in, as European syndicate bankers say that this will lead to excellent conditions when deal flow starts again after the summer break.

JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.

Thai agro-industrial and food conglomerate Charoen Pokphand Foods is in the market for its third syndicated loan of the year, this time through subsidiary CP Merchandising Co.

Mahindra and Mahindra Financial Services has raised Rp30.9bn ($412.4m) after wrapping up an oversubscribed rights issue.

Ant Group has picked two large Chinese securities houses as advisors for the China leg of its dual listing in Hong Kong and Shanghai. The duo are also likely to be the sponsors for the much-anticipated deal.

Nongfu Spring, a Chinese bottled water and beverage company, has kicked off pre-deal investor education for its Hong Kong IPO.

ANZ has named two of its veteran bankers to senior positions helming institutional and transaction banking for Australia.

Chinese biotechnology company JW (Cayman) Therapeutics is planning to float on Hong Kong’s stock exchange. It has filed a draft prospectus with the bourse.

Jin-Hei Park, chief executive officer of Citibank Korea, is retiring in October.