China International Capital Corp

China Resources Pharmaceutical Group is proving a hit with global investors, as its HK$15.7bn ($2.0bn) Hong Kong IPO is heavily oversubscribed, according to a banker at one of the leads.

China Resources Pharmaceutical Group’s HK$15.7bn ($2.0bn) Hong Kong IPO got off to a flying start this week, with books covered and support from high profile cornerstone investors giving it momentum.

China Resources Pharmaceutical Group has lined up eight cornerstone investors for its HK$15.6bn ($2.0bn) Hong Kong IPO, with the group agreeing to buy $916m worth of shares.

China Resources Pharmaceutical Group will raise as much as HK$15.6bn ($2.0bn) via a Hong Kong IPO after firming up the price range.

It has been a busy period for the structured finance community in China with three lenders securitizing a combined Rmb3.28bn ($491m) worth of non-performing loans (NPLs) in the space of a week.

Hong Kong is getting ready for a slew of $1bn-plus deals with China Resources Pharmaceutical Group preparing for its listing, as the city sees off the world’s largest IPO since 2014.

Postal Savings Bank of China (PSBC) made waves in the market this week, bringing its HK$57.6bn ($7.4bn) IPO in Hong Kong to a close as a third of investors were zeroed from the world’s biggest float in two years.

Postal Savings Bank of China has raised HK$57.6bn ($7.4bn) from its Hong Kong IPO after pricing the shares off the bottom of the range, with allocations dragging late into Wednesday evening.

Postal Savings Bank of China has narrowed the price range on its Hong Kong IPO to the bottom half of guidance, and is set to raise up to HK$58.8bn ($7.6bn) in the world’s biggest listing in two years.

China is stockpiling gold as an alternate way to support the internationalisation of the renminbi, according to the findings of a China International Capital Corp (CICC) research report last week.

Postal Savings Bank of China and its potential HK$62.7bn ($8.1bn) IPO got off to a roaring start due to hedge fund demand. Oversubscribed on day one, it is on track to be the world’s largest IPO in two years. But an order book so far dominated by regional names is about to get a lot more global as management leaves Hong Kong for roadshows in the UK and US. Jonathan Breen reports.

China Construction Bank (CCB) is set to become the fourth Chinese lender to securitize nonperforming loans (NPLs) with a Rmb702m ($105m) offering scheduled to launch on September 20.