China

Hua Medicine, the third biotechnology firm to list in Hong Kong, got across the finish line with an undersubscribed retail book, even though several blue-chip funds threw their weight behind the deal.

Issuers and debt bankers in Asia have their eyes fixed on the coming week for primary deal flow to gather momentum, following a relatively slow pace of issuance at the start of September.

China’s drug developer Luye Pharma Group has launched a $300m loan into general, to back the acquisition of two antipsychotic medical products.

Nio’s IPO on the New York Stock Exchange is set to escape the rout in emerging market stocks mostly unscathed, with its $1.3bn float covered ahead of pricing on Tuesday.

Haidilao International Holding, the Chinese hotpot chain, has covered its HK$7.6bn ($962.6m) IPO in Hong Kong thanks to a stellar line-up of cornerstone investors, said bankers leading the trade.

China’s Anhui Transportation Holding Group raised $350m on Thursday, navigating a weak market backdrop successfully and seeing orders of nearly $1.5bn.

China lays out even more ambitious plans for lending, trading and investment in Africa at a summit in Beijing this week, the American Chamber of Commerce in Hong Kong (AmCham HK) makes political and economic agenda recommendations to the city’s government, and Hong Kong Exchanges and Clearing asks market participants to be ready for the implementation of investor ID on the Stock Connect.

Foreign asset managers are still largely undecided on their China strategy, A-shares won the most emerging markets inflows last month, and the Shanghai and Shenzhen exchanges complete the acquisition of Dhaka Stock Exchange (DSE).

Hansoh Pharmaceutical Group is making a belated attempt to list in Hong Kong some two years after mandating banks.

The Asian follow-on and block markets saw two transactions in Chinese healthcare names this week that raised a total of $250m.

China’s market regulator has released the first set of proposed rules for the long-talked-about London-Shanghai Stock Connect — but whether it represents a real opening up or simply a political manoeuvre is yet to be seen. Jonathan Breen and Paolo Danese report.

Two Chinese companies, Grand Baoxin Auto Group and Xinyi Glass, are tapping the offshore loan market for new financings.