CITIC Securities
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Tianqi Lithium is turning to equity investors after making a debt-fuelled play for its Chilean rival, in an acquisition that pressured its ratings and threatened to rob it of investment grade status. -
Hong Kong saw its second biotechnology listing this week, as BeiGene floated on the city’s stock exchange. But two days after listing it was under water and was followed by a double-digit dive by Ascletis Pharma, the sector’s debut issuer. The state of both stocks are a warning sign for future biotech issuers to rein in valuations, say ECM bankers. Jonathan Breen reports.
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BeiGene priced its IPO in Hong Kong near the top end of guidance on Thursday, raising HK$7.1bn ($903m) from the city’s second biotechnology flotation.
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HDFC Asset Management Co has raked in Rp28bn ($407.9m) from its IPO after a big show of demand from institutional and non-institutional investors.
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BeiGene had covered books for its HK$7.3bn ($933m) IPO in Hong Kong by Tuesday morning, just two days after the deal hit screens.
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Hot on the heels of China Tower’s $9bn Hong Kong IPO, another state-owned giant is planning a bumper share sale in the city.
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HDFC Asset Management Co is set to raise Rp28bn ($407.5m) from its IPO after a vast show of demand from institutions and non-institutional investors, according to a source close to the deal.
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BeiGene is set to become the first issuer to sell shares under new rules in Hong Kong, after the exchange moved to encourage secondary listings by overseas-traded companies.
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Aakash Educational Services is seeking approval to float for Rp12bn ($173.9m), filing a draft IPO prospectus with the country’s market regulator on Thursday.
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HDFC Asset Management is gunning for up to Rp28bn ($408m) from its IPO in India after setting the final price guidance for the offering.
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CanSino Biologics, founded by a group of Chinese vaccination industry experts from Canada, has filed for a listing in Hong Kong.
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Lodha Developers may hit screens with its Rp50bn ($732m) IPO in India next month as the lead banks wait for markets to calm down.
