China

Two Chinese technology firms listing in the US have been hotly received by investors, with both well covered since their launches earlier in the week.

China’s Texhong Textile Group has returned to the offshore loan market for a HK$1bn ($127m) fundraising.

CMB Financial Leasing is back for a $400m bullet loan, shaving 10bp of the margin compared with a larger borrowing sealed last year.

Signs of loosening liquidity in China’s onshore market is making international loans syndications bankers ponder the impact on their businesses, writes Pan Yue.

Senior investment bankers jumping ship to fintech firms, often to advise them on their financing plans, has become a relatively common theme in Asia. But one former banker appears to have taken this to a whole new level.

Bankers marketing the latest crop of IPOs from China’s technology sector got their game face on this week amid escalating fears of a trade war with the US.

Ascletis Pharma is in the market with the first biotechnology IPO in Hong Kong following the bourse’s historic change in listing rules.

Four issuers, sovereign and sub-sovereign, are drawing closer to their debuts in China’s Panda bond market, as they seek to take advantage of falling yields in the Mainland, sources told GlobalRMB.

The onshore arm of DBS bagged Rmb3bn ($448.3m) from the Chinese bond market on Tuesday, marking its first trade since 2015 that carries a tenor of more than one year. The transaction was also the second bond from a Singaporean lender in the mainland this year.

Chinese firm Ascletis Pharma has launched bookbuilding for a HK$3.58bn ($456.9m) IPO, the first company to take advantage of the Hong Kong Stock Exchange’s new biotechnology-friendly listing regime.

The Hong Kong Stock Exchange and China’s two largest bourses have reached a consensus on when dual-class share companies can be included on the Stock Connect, following a surprise decision by the latter to exclude weighted voting rights (WVR) shares from the southbound channel of the cross-border trading system.

CanSino Biologics, founded by a group of Chinese vaccination industry experts from Canada, has filed for a listing in Hong Kong.