CITIC Securities
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Two Chinese online platform businesses will start pre-deal investor education for their Hong Kong IPOs on Thursday, according to bankers. -
Guangzhou R&F Properties Co raised $200m from a tap of its existing bonds on Tuesday, opting to reopen an old deal amid a challenging market environment.
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Midea Real Estate Holding filed for an IPO in Hong Kong on Thursday that could raise upwards of $1bn, according to a banker on the deal.
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Huifu Payment launched a HK$1.9bn ($244.1m) IPO in Hong Kong on Thursday, using Silicon Valley stalwarts Square and PayPal as benchmarks for valuations.
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General Motors’ Shanghai-based joint venture is gearing up for its biggest securitization transaction in China. The Rmb10.4bn ($1.62bn) notes will be up for grabs not only for onshore investors, but also those tapping the market via Bond Connect.
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The pre-summer IPO season is in full swing as issuers and banks look to lock in deals before investors pack their bags for the holidays.
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China Great Wall Asset Management Corp snapped up $600m from a five year bond on Thursday, a modest size compared to its last offshore outing.
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Singapore’s Reit issuers continued to tap the equity market with gusto this week, as CapitaLand Commercial Trust competed a S$217.9m ($162.3m) fundraise while Manulife US Real Estate Investment Trust launched a $197.2m rights issue.
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IndInfravit Trust lifted the gloom in India’s infrastructure investment trust market this week after its Rp32.3bn ($484m) private placement, a first for the asset class, drew in Allianz Capital Partners and Canada Pension Plan Investment Board.
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Sarimelati Kencana, the Indonesian Pizza Hut owner, sold shares at the low end of its IPO guidance range amid adverse market conditions, raising Rph1tr ($73.5m) on Thursday.
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Xiaomi Corp set its $10bn IPO in motion this week with an initial filing to the Hong Kong Stock Exchange. The move is a big win for the city, as the Chinese smartphone maker will be the first high-profile issuer to make use of Hong Kong’s new listing rules that allow founders to control a company with weighted voting rights (WVR). John Loh reports.
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Thunder Bridge Acquisition has filed for a $200m Nasdaq IPO, set to be the first special purpose acquisition company (Spac) focused on China’s financial technology sector.
