China

China’s Simcere Pharmaceutical Group is seeking the green light to float on Hong Kong’s stock exchange after filing a listing application with the bourse.

Chinese property developer Yanlord Land Group has returned to the loan market with a dual-tranche refinancing deal of up to $1bn.

Hong Kong’s IPO market is gearing up for a busy few weeks as companies push for listing approvals before the end of June, with bankers and investors remaining bullish on the city’s stocks. Jonathan Breen reports.

Jiangxiaobai is planning to list in Hong Kong this year, according to a source close to the deal.

Chinese online marketplace 58.com is seeking a $3bn loan for its take-private from the Nasdaq. The company is relying on Chinese banks to raise the money, but several told GlobalCapital Asia they were not interested. Pan Yue reports.

Chinese property companies continued to pile in to the dollar bond market on Wednesday, with Radiance Group Co and Powerlong Real Estate Holdings using up their remaining fundraising quotas.

Chinese e-commerce company JD.com is set to raise HK$30.1bn ($3.87bn) from its Hong Kong secondary listing, according to a source familiar with the matter.

China Mengniu Dairy Co hit the debt market straight after a profit warning, but still managed to attract investors to its $800m dual-tranche bond, tightening pricing on both portions by 80bp.

HSBC and Standard Chartered are facing a backlash from investors and politicians after publicly supporting China’s planned security law for Hong Kong.

The debt restructuring at China’s Peking University Founder Group is set to be a test case for offshore bonds backed by keepwell agreements, a structure often favoured by many mainland borrowers. The outcome of the restructuring looks set to influence the use of keepwell structures ─ and how these deals price.

Belle International is selling a block of shares in its sportswear subsidiary, Topsports International Holdings, according to a term sheet seen by GlobalCapital Asia.

58.com, a Chinese company that focuses on online classified advertisements, is in talks with banks in the country for a financing package of $3bn to support its take private.