China

Regulator allows foreign nationals in China to buy A-shares, Beijing and Washington walk back to the negotiation table, and the Chinese finance ministry guides local governments to borrow and spend on infrastructure in the third quarter.

Chinese mobile internet company CooTek is planning a $100m IPO of American Depository Shares (ADS), according to a draft prospectus filed with the US Securities and Exchange Commission on Thursday.

Integrated online healthcare provider 111 filed draft documents on Wednesday for a potential $200m issue of American Depository Shares (ADS).

China’s answer to Tesla is set to make a splash with its New York IPO. Nio is preparing a multibillion-dollar listing that will test investor appetite for the booming electric car industry. John Loh reports.

Asia’s offshore bond market has ground to a halt. Global market volatility, driven by in part by geopolitical risk, has left borrowers on the sidelines, waiting for what will they hope will be a more stable market in September. In the meantime, the only sign of resilience in the region comes from China, where local banks can be leaned on to anchor deals. Morgan Davis reports.

Deutsche Bank taps Ngan for ECM — Citi names first BRI head — Li emerges at Citic — Morgan Stanley promotes in SEA — Nomura hires for Korea DCM

Geely and BNP Paribas’s auto finance joint venture hit the Chinese securitization market with a bang this week, as domestic investors oversubscribed for its single tranche sale by three times. The deal came a week before Mercedes is scheduled to launch a similarly structured transaction, its first in China this year.

Chinese companies BOC Aviation and Digital China have launched offshore loans into general syndication, seeking $500m and $100m, respectively.

Geely and BNP Paribas’s auto finance joint venture hit the Chinese securitization market with a bang on Tuesday, as domestic investors oversubscribed its single tranche sale by three times. The deal came a week before Mercedes is scheduled to launch a similarly structured transaction, which will be its first in China this year.

Beijing Construction Engineering Group (BCEG) raised $600m from a quick transaction on Monday, following the approach of other recent Chinese issuers by relying on anchor orders to close the deal.

Chinese information technology company Digital China Group is tapping the offshore loan market for a $100m deal.

After a two year absence in the Panda bond market, Veolia Environnement made its return last week to raise Rmb1bn ($145.6m). Instead of placing another three year bond, the French corporate issuer cut the tenor to just one year — a move that paid off for the borrower, said bankers.