China

China’s CIMC Vehicles, a trailer maker, has priced its float of 265m shares on the Hong Kong Stock Exchange at the bottom of the range, raising HK$1.69bn ($217.1m).

Guangzhou R&F Properties Co attracted a huge order book for its sixth dollar deal this year, while Hong Kong-listed Dafa Properties Group turned to anchor support for its inaugural offshore public bond.

Outstanding dollar bonds from troubled Chinese state-owned commodity trader Tewoo Group hit new lows this week after the company’s subsidiary allegedly missed onshore loan payments.

The first four companies to complete IPOs on the new technology board in Shanghai were flooded with phenomenal retail demand of as much as 2,500 times, despite the issuers’ lofty valuations. But an imminent increase in supply could calm the frenzy, writes Rebecca Feng.

DCM bankers in Asia are predicting a record year for bond issuance, following a strong first half buoyed by positive investor sentiment and favourable market conditions. Although the year so far shows a complicated story of feast and famine in different parts of the debt market, there is plenty of optimism for the rest of 2019. Morgan Davis reports.

The Hong Kong Stock Exchange is sifting through three IPO applications submitted by Chinese companies in three different sectors this week.

Hong Kong’s IPO market endured a difficult first half to the year, with trade war tensions and widespread protests fuelling a wave of stock market volatility. But there is plenty of business to get through before the end of 2019. Gina Lee reports.

The Chinese Ministry of Finance (MoF) completed its maiden Rmb1.7bn ($247m) three year offshore renminbi bond in Macau on Thursday, pricing it slightly higher than onshore government bonds.

The arrest of Future Land Development Holdings’ founder and chairman caused a sharp sell-off in the Chinese property company’s dollar bonds, with analysts worried the incident may hurt its debt-servicing ability in the short and long term.

Swedish car manufacturer Volvo made its debut in Hong Kong dollars on Wednesday amid increasing tensions and unrest in the city.

Tsinghua Tongfang Co has priced a smaller $300m deal, as investors appeared cautious amid an ongoing share sale. Yuzhou Properties and Shandong Guohui Investment Co returned to the market and saw big order books, the latter fueled by lead manager interest.

China’s Edvantage Group opened books for a HK$805m ($103m) float on the Hong Kong Stock Exchange (HKEX) on Wednesday.