China Merchants Bank Co

Two Hong Kong IPO hopefuls have taken different approaches to their transactions. Tencent-backed Tongcheng-Elong Holdings launched its smaller listing of up to HK$1.8bn ($232.4m) on Tuesday, while Babytree has put its planned float on hold.

Online travel service provider Tongcheng-Elong Holdings is set to launch a truncated Hong Kong IPO on Tuesday after key comparable Ctrip’s stock price collapsed amid volatility last week, according to a source close to the deal.

Shenzhen International Holdings is set to issue its second Panda bond, seeking an ambitious Rmb4.7bn ($678m). Regular issuer GLP is also planning a comeback.

Four mainland technology companies kicked off pre-deal investor education for their Hong Kong IPOs on Monday, gauging the market’s appetite ahead of bookbuilding in early November, according to sources close to the listings.

Global equity markets were slammed this week, with a rout on Wednesday wiping out all the gains this year in the US. Amid the turmoil, a handful of technology firms were awaiting approvals to list in Hong Kong — some are expected to take a cautious approach but most are gearing up for a last-minute dash to find a closing IPO window. Jonathan Breen reports.

Beijing Huatu Hongyang Education & Culture Corp has revived its Hong Kong IPO plans, refiling a draft prospectus with updated financial information.

Red chip China Power International and Singapore’s Global Logistics Properties (GLP) were the first to tap the Panda market after the People’s Bank of China finally delivered the rules for issuers in the asset class.

Global Logistics Properties, the Singapore-headquartered logistics facilities provider that is the second most frequent issuer of Panda bonds, snapped up another Rmb1.2bn ($170m) in its October outing.

China Fortune Land Development Co added $70m to its existing 2020 bonds in a quick tap this week.

Dafa Properties Group raised HK$840m ($107.2m) when it priced a Hong Kong IPO a few cents above the middle of the marketed range this week.

Canaan, the world’s second largest maker of cryptocurrency mining equipment, is in a waiting game with the Hong Kong bourse for its IPO to be approved.

Yancoal Australia has passed a listing hearing with the Hong Kong Stock Exchange and is preparing for the launch of its IPO this month.