China

Wanda Sports Group Company is seeking US Securities and Exchange Commission approval for a float of American Depository Shares (ADS).

Chinese provincial lender Bank of Guizhou has set the ball rolling for an IPO in Hong Kong, filing a draft prospectus with the city’s bourse.

In this round-up, US treasury secretary Steven Mnuchin called the talk with Chinese central bank governor Yi Gang ‘candid’ on Twitter, the Mainland warned domestic tourists and students against planning trips to the US, and both the World Bank and International Monetary Fund (IMF) lowered predictions for Chinese GDP growth thanks to trade tensions.

Two Chinese property companies raised a combined $485m at the end of last week ahead of the holiday weekend in Hong Kong.

The reception for Guangdong Energy Group’s dollar bond debut this week clearly showed the pent-up demand for investment grade names from China, but a question mark hangs over the supply forecast for government-owned issuers — particularly local government financing vehicles (LGFVs). Addison Gong reports.

Taiwanese commercial banks have backed away from Chinese loans, presenting a conundrum for bankers taking deals into general syndication. But a pair of leasing companies in the country offer a glimmer of hope.

The much anticipated Shanghai tech board held its first listing committee meeting on Wednesday. Three companies are en route to be registered with China Securities Regulatory Commission (CSRC) and become the first batch of listees on the board.

China East Education Holdings pulled off the largest education IPO in history this week, despite the mainland education sector suffering under state constraints. The company operates in a niche free of the heavy-handed regulator, which helped it draw a flood of interest to its HK$4.9bn ($625m) offering. Jonathan Breen reports.

China’s Hansoh Pharmaceutical Group has priced its HK$7.9bn ($1bn) Hong Kong Stock Exchange offering.

JP Morgan has hired former UBS banker David Xu to lead onshore equities as it readies the launch of its Mainland securities joint venture.

Chinese securities houses and banks have suffered a rough two weeks that have hit their funding conditions. A lawsuit from China Merchants Bank (CMB) against Everbright Capital has brought even more worry to a market still recovering from the panic caused by Baoshang Bank’s takeover.

Chinese higher education provider Edvantage Group Holdings has begun pre-deal investor education for its Hong Kong IPO, according to a source familiar with the matter.