Citi

Chinese integrated online healthcare provider 111 has opened books for its IPO of American Depository Shares (ADS), which is slated to raise $148.8m.

Two of the euro corporate bond market’s more frequent issuers helped fully reopen the market with a pair of dual-tranche deals immediately following the UK August bank holiday. The quality of the credits was one of the reasons the market was able to digest €6.65bn of supply on the day.

Abu Dhabi Islamic Bank (ADIB) and Al Hilal Bank (AHB) were this week roadshowing the first public dollar sukuk since April and the first public bank deals from the Gulf states since March.

The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention and it was able to build the largest order book for a 20 year euro tranche in 2018.

There was little in the way of emerging market bond issuance this week to set the tone for the usually busy month of September. Although mBank raised €500m of four year money, CEE-focused Atrium European Real Estate had yet to appear with a deal that had been planned for Thursday.

Abu Dhabi Islamic Bank is roadshowing a dollar benchmark Reg S additional tier one sukuk as the call date for its outstanding tier one approaches in October.

The queue of Chinese companies seeking Hong Kong IPOs continues to grow, with one firm looking for the regulatory greenlight, and another issuer reviving its listing plans this week.

Czech company Atrium European Real Estate has said it is focusing on a seven year bond. That is the long end of the maturity range that had set for the note on Wednesday. But there are no signs yet of price guidance for the deal, which has already been postponed once.

The corporate bond market started at a frantic pace on Tuesday with five deals pricing. But on Wednesday French tyre manufacturer Michelin found its patience was rewarded with a chance to dominate investors’ attention.

Czech company Atrium European Real Estate is reviving its €300m bond issue this week with a shorter maturity, having roadshowed in June. The deal looks set to be one of the first out of the gates in the emerging markets this week, after a tumultuous summer for that asset class.

Chinese firm Tubatu Group Holdings is seeking the greenlight to list in Hong Kong, filing a draft prospectus with the city’s bourse on Tuesday.

Chinese electric car maker Nio launched its US IPO, looking to pocket up to $1.3bn amid strong interest from investors for stocks in the sector.