China

Sichuan Languang Justbon Services Group, a property management company, has kicked off a short IPO roadshow, aiming to raise up to HK$1.67bn ($213.4m) from a Hong Kong SAR listing.

The Securities Association of China (SAC) has told onshore securities houses to improve the quality of their research reports on Star Market companies. The move may help securities houses better price IPOs on the bourse, said bankers.

GlobalCapital China is pleased to invite you to participate in the GlobalCapital China Capital Market Awards 2019. Inaugurated last year under the GlobalRMB banner, the awards celebrate the accomplishments of the leading players in the renminbi debt capital markets, onshore and offshore, as well as key service providers.

Real estate developer Helenbergh China Holdings has priced its first dollar bond, raising $300m amid constant demand for yield from investors.

Chinese biotechnology firm Innovent Biologics has raised HK$2.39bn ($304.3m) after selling a chunk of stock through a top-up placement.

Chailease International Finance Corp has closed its third offshore loan of the year, finding demand from 17 lenders for a $300m facility.

Crisis-hit countries that go through a painful debt restructuring programme as part of a bailout enjoy much steeper cuts in their medium-term debt, according to an independent analysis of International Monetary Fund rescue programmes.

Three Chinese companies joined the queue to list in the US within the past week. Youdao, an online education platform founded by Chinese technology company NetEase, is planning the largest of the IPOs, seeking up to $300m.

The number of syndicated loans in Asia has reached a new low this year, as the market takes a hit from volatility and regulatory headaches around funding M&A transactions. There is no respite in sight, however, with bankers predicting a tough end to 2019. Pan Yue reports.

Hong Kong SAR’s equity capital market has come back to life recently with a handful of well-received IPOs. A further boost is also likely if the US goes ahead with its threat of banning Chinese listings on its exchanges, writes Jonathan Breen.

China’s asset backed securities (ABS) market has had a stellar year so far, with volumes jumping thanks to a big push from the regulators. But it’s not just a numbers story. The depth of the market has also improved, with better secondary liquidity and more offshore participation.

Chinese sportswear retailer Topsports International Holdings has raised HK$7.9bn ($1bn) from its IPO on the Hong Kong Stock Exchange, pricing the deal just above the bottom of the marketed range.