CITIC Securities

ICICI Lombard General Insurance Co is looking to go public with an up to $900m deal, submitting a draft prospectus for what could be India’s first IPO from a non-life insurer, according to a banker familiar with the matter.

Zhongyuan Bank priced its Hong Kong IPO near the bottom of guidance on Wednesday, raising HK$8.1bn ($1.0bn).

Chinese investment banks and brokerages had a dazzling performance in Asian DCM during the first half, remaining the preferred choice for the country’s offshore issuers while also making big leaps in boosting their international client base. With their rise have also come increasing concerns around best market practices – but even these may soon be a thing of the past. Addison Gong reports.

Zhongyuan Bank’s HK$8.34bn ($1.1bn) IPO in Hong Kong was well covered as of Thursday morning, according to a banker at one of the leads.

Chinese commercial lender Zhongyuan Bank has opened the books on its HK$8.34bn ($1.1bn) IPO after securing commitments from three cornerstone investors for about half the deal.

FIT Hon Teng opened books this week for its potential HK$3.0bn ($384.3m) IPO and found investors scrambling to get in.

Zhongyuan Bank has begun fielding interest for its Hong Kong IPO, which is set to raise around $1bn, according to a banker close to the deal.

Hilong Holding debuted in the bond market on Thursday with a $250m three year bullet, managing to somewhat defy concerns around its concentration in the volatile oil industry.

Citic CLSA chairman Tang Zhenyi has taken charge of investment banking at the Hong Kong-based firm after Andrew Low moved to Australia in May, said sources.

Citic CLSA chairman Tang Zhenyi is now in charge of investment banking at the Hong Kong-based firm following Andrew Low’s move to Australia, sources with direct knowledge of the matter said.

HNA Group company Hainan Airlines Holding Co rolled out a 364 day bond on Thursday, becoming the second issuer to seek a short-term deal recently. Meanwhile, Chinese oilfield equipment provider Hilong Holding is selling an inaugural three year note.

Citic CLSA has hired a longtime southeast Asia ECM banker as head of Singapore corporate finance and capital markets, sources close to the move said.