China

Chinese firm Dada Nexus has launched a follow-on offer of its Nasdaq-listed American depositary shares (ADS). The deal could raise around $521.6m.

Jacobio Pharmaceuticals is preparing to launch the roadshow for its Hong Kong IPO after winning approval to list from the city’ stock exchange last week.

In this round-up, the official manufacturing and services Purchasing Managers’ Indexes reach multi-year highs, the bourses in Hong Kong, Shanghai and Shenzhen add pre-revenue biotech companies listed in Hong Kong as well as Star market shares to the Stock Connect programme, and four more Chinese companies will be added to a US list of firms with alleged military ties.

China's Harbour Biomed, a clinical-stage biopharmaceutical company, has hit the road for its up to HK$1.8bn ($230.4m) listing.

In this round-up, China’s banking and insurance regulator decides to allow beleaguered Baoshang Bank to go bankrupt, Hong Kong’s chief executive says pre-profit biotech stocks and some Star companies will be added to the Stock Connect programme, and India moves to ban another 43 China-based mobile applications.

Dexin China Holdings Co has worked hard to court bond investors and establish its name this year. The move paid off on Thursday, when the issuer grabbed its first single digit bond coupon.

JD Health International is set to close the international investor book for its up-to HK$27bn ($3.5bn) IPO a day early, according to a source familiar with matter.

Evergrande Property Services Group, the property management arm of one China’s most debt-laden developers, wrapped up its IPO toward the bottom of price guidance after relying largely on Chinese investors.

Sunac China Holdings tapped two of its dollar bonds on Thursday, using up the $320m left of its offshore issuance quota.

Chinese property developer Datang Group Holdings has set its IPO in motion, opening the book for an offer that could fetch up to HK$1.5bn ($197.9m).

Ford Automotive Finance (China), Dongfeng Nissan Auto Finance Co and domestic Chinese originator BYD Auto Finance Co competed head-to-head in the onshore auto loan asset backed securities market this week, but a strategy of targeting different investors helped bankers manage the competing supply, Addison Gong reports.

China Construction Bank priced a Rmb8.4bn Jianyuan 2020-12 residential mortgage-backed securities (RMBS) this week, attaching two international ratings to an all-floating rate deal.