CITIC Securities

Datang Environment Industry Group Co, a unit of state-owned China Datang Group, is seeking to list in Hong Kong, tapping Citic CLSA Securities and Morgan Stanley as joint sponsors.

Bank of Zhengzhou, one of China’s biggest commercial lenders, has filed an application to list on the Hong Kong Stock Exchange (HKEx) via joint sponsors Bocom International and Citic CLSA Securities.

Bank of China Hong Kong took the market by surprise on September 29 when it announced in the morning that it had successfully completed its Rmb1bn ($157m) Panda bond. That meant BOCHK, whose deal had been expected to run alongside a similar trade from HSBC that also priced on Tuesday, was able to claim the position of the first foreign bank to issue in China’s domestic bond market.

Auto finance companies are taking the Chinese ABS market by storm this year with SAIC-GMAC adding to the surging volumes with a Rmb3bn ($471m) transaction this week. Even though pricing came just slightly above the middle of guidance, bankers on the trade said it was a level the company was more than happy to take.

Summarecon Investment Property (SIP), a unit of Indonesian property giant Summarecon Agung, is looking to raise $200m-$250m in an IPO, with banks on the trade expecting to open books in October or November.

Indiabulls Housing Finance is out with the first large follow-on offering of the post-summer season, with the mortgage lender launching a Rp33.30bn ($500m) deal on Wednesday.

In the confusing world of China’s investor access programmes, one thing regulators have made clear is that hedge funds are not welcome. The launch of the Shanghai-Hong Kong Stock Connect gave the industry access the mainland markets, but the recent stock market trouble has seen regulators take a much harder stance.

Bank of Qingdao Co, a Chinese city commercial lender, is considering a Hong Kong listing this year. Citic CLSA Securities and Goldman Sachs are joint sponsors, with Rothschild acting as financial adviser.

It has only been underway for one year, but the Chinese auto ABS market has already raced ahead with volumes surging. A new deal from SAIC-GMAC Automotive Finance has now appeared with the company looking to securitize Rmb3bn ($469m) worth of auto loans next month.

China Energy Engineering Corp is gearing up for a Hong Kong IPO, with the company filing a draft prospectus on Friday. But it comes as Asian equities followed a global sell-off and Chinese shares slumped 4.3%, and as bankers sound the alarm over primary deal flow.

Some market observers are concerned China’s first margin loan ABS could be sowing the seeds of a new crisis. But it's too early to condemn such a new product — and one that regulators will be watching closely.

Less than two weeks after China's first margin loan ABS made its debut the product seems to have already struck a chord with the country’s brokerage industry. One of the top Chinese brokers, Citic Securities, obtained board approval on August 14 to sell up Rmb1.5bn ($235m) of ABS over the next two years.