China

Chinese drilling company Honghua Group raised $200m from a rare bond from an industrial company, attracting enough investors to cover the deal by more than six times.

Chinese financial accounting platform 9F has set the ball rolling for an IPO in the US that will be worth as much as $150m.

Tencent Holdings-backed Weimob has sealed a HK$1.17bn ($150.1m) top-up placement of new stock, while a handful of the company's shareholders bagged HK$230m from a block trade.

In this round-up, two more Chinese corporations defaulted on their domestic bonds, Bank of China (BOC) said offshore bonds were cheaper than onshore in June, and the Hong Kong market welcomed ETFs targeting China’s biotech and cloud computing sectors.

In this round-up, the US and China will meet in Shanghai next Tuesday to continue trade negotiations, newly elected UK prime minister Boris Johnson showed some love to China and Mainland regulators are continuing a crack-down on real estate financing firms.

After creating three billionaires and causing an unprecedented 400% share price rise for one company at the end of the first trading day, Shanghai’s new technology board saw $1bn wiped out on Tuesday. As the feverish excitement among investors cools down, longer-term concerns around China’s IPO markets have emerged, writes Rebecca Feng.

An expected return of Brexit volatility means that there are likely to be fewer UK firms doing IPOs in the fourth quarter of the year, but London will continue to host high profile international listings to make up the shortfall.

Chinese banks are beefing up their loans business in southeast Asia, with Bank of Communications (BoCom) becoming the latest firm to set its sights on further expansion. While Mainland lenders are more active in the region than before, there are challenges to their growth, writes Pan Yue.

Country Garden-linked Bright Scholar Education Holdings made its debut in the offshore bond market on Wednesday, raising $300m from a heavily-covered transaction.

China Great Wall Asset Management Co priced its first dollar bonds since May 2018, attracting investors amid subdued supply from the Chinese AMC sector.

International banks will finally be allowed to obtain a fully-fledged bond underwriting licence in China’s interbank bond market, giving a boost to their ambitions to expand in the mainland. But they will have to meet some very high standards before they can make progress. Rebecca Feng reports.

Wanda Sports Group has cut 38% off the size of its live US IPO, having reduced the stock on offer and trimmed price guidance as it confronts investors nervous over their unfamiliarity with the company.