China Merchants Bank Co

CMB International Capital Corp is slowly but steadily gaining ground in Asia’s bond market with a new — and fast growing — debt capital markets team in place. But what will it take for CMBI to be a real competitor to both international and other Chinese firms? Morgan Davis finds out.

Jiangxi Bank Co has raised HK$7.48bn ($953m) from its Hong Kong IPO, pricing the shares towards the top of guidance thanks to a big group of flexible investors.

Chinese technology giant Xiaomi Corp kicked off bookbuilding for its up to HK$48bn ($6.1bn) Hong Kong IPO on Thursday, set to be the largest globally in nearly two years, after a series of twists and turns that put it firmly on the market’s radar. Jonathan Breen reports.

Jiangxi Bank Co has kicked off a week-long roadshow for its up to HK$7.8bn ($992.9m) Hong Kong IPO, set to be the second largest listing in the city so far this year.

Future Land Holdings Co raised $200m from a slightly unusual 3.75 year bond on Tuesday, but found investors distracted by the landmark Trump-Kim summit in Singapore.

A topsy-turvy market backdrop is pushing a slew of Chinese borrowers, mainly property companies, to raise funds by tapping their existing dollar bonds. Buy side interest remains, but only for the right names, writes Addison Gong.

General Motors’ Shanghai-based joint venture is gearing up for its biggest securitization transaction in China. The Rmb10.4bn ($1.62bn) notes will be up for grabs not only for onshore investors, but also those tapping the market via Bond Connect.

Property developers Times China Holdings, Central China Real Estate and China South City Holdings raised funds from the dollar bond market on Monday, with all three finding sufficient buy-side interest.

China Overseas Grand Oceans Group (Cogo) raised a larger than expected $500m from a three year bond on Thursday, a week after pulling a 2023 transaction. Future Land Holdings Co also managed to woo investors to a $200m tap.

China Merchants Bank’s Hong Kong branch managed to lock in a tight spread without sacrificing size on its $500m floating rate note on Wednesday.

Haidilao International Holding, a Chinese hotpot restaurant chain, has filed for an IPO in Hong Kong that could raise around $1bn.

Two IPO applications in Hong Kong this week — one from a bitcoin hardware maker and the other a Chinese state-owned enterprise — highlighted the tussle for investor attention between old and new economy companies.