China

International G3 currency bond issuance in Asia is set to surpass 2018’s numbers before the end of the year, as relatively stable market conditions provide borrowers with fundraising opportunities. But DCM bankers warn that things could turn in the blink of an eye, as geopolitical tensions threaten to disrupt their fourth quarter business. Morgan Davis reports.

Youdao, an online education platform founded by Chinese technology giant NetEase, is planning an IPO of American Depository Shares (ADS), having filed a draft prospectus with the US regulator.

The Shanghai Stock Exchange (SSE) has published statistics of the companies that have applied for and listed on the Star board since its launch, giving market participants a closer look at the firms that the bourse has attracted.

China’s Star board, the local version of the US Nasdaq, has great potential to highlight the country’s move towards reforming its IPO market — if it’s done right.

Chinese health and wellness solutions provider Ecmoho is planning to float on the Nasdaq and is targeting proceeds of up to $150m.

Zhongliang Holdings Group Co, the Chinese high yield property company, returned to the dollar bond market on Friday, adding $100m to its coffers in a tap of its maiden 2021 bonds, issued only the week before.

Beijing Hongkun Weiye Real Estate Development Co sold a three non-put two year bond on Friday last week with one of the highest yields Asia has seen this year.

In this round-up, the US and China set a date for the next round of negotiation in Washington DC, MUFG and Mizuho receive approval to underwrite onshore Chinese bonds and China’s industrial profits growth edges down in August.

Credit Suisse has hired three senior members of CLSA’s China Reality Research group to form a new research team for the mainland.

A number of dollar bond issuers in Asia have moved to reopen their existing notes and add more funds to their coffers ahead of a week-long holiday in China for National Day.

In this round-up, China and the US upped the ante on the rhetorical trade war, the Ministry of Finance transferred its shares in two state-owned banks to a national social security fund and the Hangzhou city government is sending 100 of its staff to private companies.

In this round-up, Japanese firm Daiwa Securities gets the green light to set up a majority-owned brokerage in the Mainland, FTSE Russell does not include Chinese bonds in its indices and NetEase reveals plans to raise pigs.