Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.
The shock from this month’s stunning slump in China Huarong Asset Management Co's dollar bonds may have eased slightly, following a rally this week after supportive comments from the Chinese government.
Putian State-Owned Assets Investment Co (PTSI) sold its first dollar bond this week, raising $180m.
US-listed Zai Lab and Futu Holdings are tapping the equity market for funds through follow-on offerings, with both the Chinese companies launching their transactions after a rally in their stock price.
Food delivery giant Meituan has raised close to $10bn from an overnight sale of shares and convertible bonds, getting solid interest from investors and raising money to ramp up its investment into the technology part of its business.
The shock from this month’s stunning slump in China Huarong Asset Management Co's dollar bonds may have eased slightly, following a rally this week after supportive comments from the Chinese government. But the incident should trigger a more critical look at the risks and rewards of buying state-owned international bonds.
Putian State-Owned Assets Investment Co (PTSI) sold its first dollar bond this week, raising $180m.
China-based Herald International Financial Leasing Co, a unit of BMW Group, has returned to the onshore securitization market. It switched to a straightforward two-tranche structure for the Rmb3bn ($461m) auto lease asset backed notes (ABN), pricing the senior tranche at a competitive spread.
The Chinese securities regulator and the Shanghai bourse have boosted requirements on Star market IPO candidates’ technology credentials, banning the listing of financial and investment companies and tightening scrutiny on financial technology firms.
Chinese regulators have made a long overdue move to reduce the number of boards at the Shenzhen stock exchange. That points to a greater commitment towards streamlining the country’s sometimes confounding capital markets.
The Chinese securities regulator and the Shanghai bourse have boosted requirements on Star market IPO candidates’ technology credentials, banning the listing of financial and investment companies and tightening scrutiny on financial technology firms.
The US finally labelled China a currency manipulator this week, a day after the renminbi weakened to below the psychological level of seven against the dollar. With China clearly indicating its willingness to open a new front in the trade war, the stage is set for an increase in rhetoric between the two countries.
A group of 23 banks and 12 securities houses completed 154 renminbi interest rate option (IRO) transactions worth Rmb12.8bn ($1.81bn) on Monday. The new derivatives product is viewed as a solid step for China’s interest rate reform.
US-based Oaktree Capital Management has become the first foreign asset management firm to set up a wholly owned subsidiary in mainland China.
The Asian Development Bank (ADB) is struggling to find the long term RMB funding it needs in both onshore and offshore markets, treasurers at the development bank told GlobalRMB at their head office in Manila.
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