Credit Suisse

The Frankfurt IPO of German real estate developer Instone finished on a strong note on Wednesday, despite the company having to bookbuild during an extraordinarily volatile week for equity markets.

Barclays has hired a new global head of electronic equities from Credit Suisse, following Stephen Dainton into the revamped UK firm, and signalling the importance of electronic execution.

A tightly allocated book helped Huami Corp weather the storm in equity markets, with the New York Stock Exchange-listed company closing 2% higher on its debut.

Indonesia’s Golden Energy and Resources nabbed $150m from a visit to the bond market but the market volatility cost the company, forcing it to pay the highest coupon for a dollar bond in the region so far this year.

Eva Zhong, who ran Credit Suisse’s equity-linked business in Asia, is rejoining Morgan Stanley to take up a senior equity capital markets role, sources close to the move said.

Credit Bank of Moscow and Domodedovo Airport (DME) brought the total Eurobond tally of Russian issuers this year to seven this week. Those latest two issuers jumped in shortly after Directive 1 sanction fears were quashed by the US Treasury.

The viability of short volatility strategies in derivatives markets was dealt a severe blow this week, after a historic spike in equity volatility torpedoed popular exchange traded notes. Costas Mourselas reports.

Italian high speed train operator Italo pulled its IPO on Wednesday night, the day before the syndicate was due to release a price range, of €1.5bn to €1.6bn, in order to take a €1.98bn offer from New-York based private equity firm Global Infrastructure Partners.

Global stock markets have suffered from volatility in recent trading sessions but European primary leveraged finance markets had already slowed down as investor pressure grew around a €1.4bn deal for storage firm Algeco Scotsman and the worrying performance of UK retailer New Look.

Protecting retail investors is a laudable goal. But what they are protected from often seems arbitrary.

Credit Bank of Moscow printed a $500m five year bond from a book in excess of $1.1bn on Wednesday, quelling fears of EM new issues shutting down in face of US Treasury yield rises. Domodedovo Airport looks next to print in dollars from the country while the State Transport Leasing Company has also mandated for a bond.

A group of employees from Vincom Retail have raised Dong 4.51tr ($197.5m) after they sold a block of the company’s shares, upsizing the offer on the back of strong institutional demand.