• Ant makes history with $34bn listing on HK, Star exchanges

    Chinese financial technology company Ant Group has sealed the world’s largest ever IPO, raising $34.4bn from dual listings in Shanghai and Hong Kong. The company built two mammoth order books despite a turbulent week for equity markets globally — although that created serious challenges for bankers allocating the stock. Jonathan Breen reports.

    • 29 Oct 2020
  • China Merchants nabs S&P rating in RMBS first

    China Merchants Bank has sold its first mortgage-backed securitization (RMBS) with an international rating. Foreign demand helped with a smooth bookbuilding process, despite a weak market backdrop. Addison Gong reports.

    • 29 Oct 2020
  • US-listed New Oriental launches HK secondary offering

    New Oriental Education & Technology Group, one of China’s largest private education companies, has kicked off bookbuilding for a Hong Kong secondary listing worth around $1.4bn.

    • 29 Oct 2020
  • CMB debuts internationally rated RMBS

    China Merchants Bank has sold its first mortgage backed securitization (RMBS) transaction with an international rating. The foreign demand helped with a smooth bookbuilding process, despite a less than favourable market backdrop for the outing.

    • 28 Oct 2020
  • GDS prices $1.7bn HK secondary listing

    Chinese data centre operator GDS Holdings has pocketed HK$12.9bn ($1.67bn) from its secondary offering on Hong Kong’s stock exchange.

    • 28 Oct 2020
  • JW Therapeutics closes IPO early

    Chinese biotechnology firm JW (Cayman) Therapeutics is set to close the book for its Hong Kong IPO on Tuesday, a daily earlier than planned, according to a source familiar with the matter.

    • 27 Oct 2020
  • Ant covers $34bn Hong Kong-Shanghai IPO

    Chinese financial technology company Ant Group is set to raise $34.3bn from the world’s largest ever IPO, after covering the deal within minutes of launch.

    • 27 Oct 2020
  • Ant comes closer to jumbo listing as investors vie for $35bn deal

    China’s Ant Group kicked off marketing for its Hong Kong and Shanghai dual listing on Thursday, the last stage before launching a possible $35bn IPO, set to be the world’s largest to date. The combined offering is already more than a third covered by onshore investors, with global buyers lining up for the rest. Addison Gong and Jonathan Breen report.

    • 22 Oct 2020
  • JW Therapeutics opens $300m Hong Kong IPO

    JW (Cayman) Therapeutics set its IPO in motion on Thursday, opening the order book for the up to HK$2.3bn ($300m) deal.

    • 22 Oct 2020
  • China Everbright debuts in dollars

    China Everbright, the Hong Kong asset manager, sold its maiden dollar bond on Tuesday.

    • 21 Oct 2020
  • GDS Holdings covers HK secondary offering

    Chinese data centre operator GDS Holdings has covered the books for its Hong Kong secondary offering, just hours after launching a deal that could be worth about $1.6bn.

    • 21 Oct 2020
  • Simcere Pharma nets $461m from top-end pricing

    Simcere Pharmaceutical Group has bagged HK$3.57bn ($460.6m) from its IPO, after sealing the offer at the top end of the price guidance, according to a source familiar with the deal.

    • 20 Oct 2020
  • Ant wins approval for Hong Kong leg of $30bn listing

    Ant Group has got the go ahead from regulators for the Hong Kong portion of its dual listing, which is expected to raise around $30bn in the largest ever primary share offering globally.

    • 20 Oct 2020
  • Shimao Services launches $1.3bn Hong Kong IPO

    Shimao Services has joined the stream of Chinese property managers listing in Hong Kong this year, kicking off bookbuilding for its up to HK$10.1bn ($1.3bn) IPO.

    • 20 Oct 2020
  • JW Therapeutics pre-markets Hong Kong IPO

    JW (Cayman) Therapeutics has launched pre-deal investor education for its Hong Kong IPO, setting the final stage of the deal ahead of launch in motion.

    • 20 Oct 2020
  • China’s SDIC recharges with $201m GDR listing

    Shanghai-listed SDIC Power Holdings has priced its $200.6m London offering of Global Depository Receipts (GDRs) at the bottom of the marketed range.

    • 19 Oct 2020
  • What trade war? China nabs US bid with 144A

    China raised a combined $6bn from a four tranche transaction on Wednesday, turning to US investors for the first time despite rising tensions between the two countries. It appeared a smart move, helping the bonds price well inside fair value. Morgan Davis reports.

    • 15 Oct 2020
  • Simcere Pharma kicks off $461m Hong Kong IPO

    Simcere Pharmaceutical Group has begun its Hong Kong listing, opening books for the up-to HK$3.57bn ($460.6m) deal.

    • 13 Oct 2020
  • Shimao, KWG premarket Hong Kong IPOs

    Chinese property managers Shimao Services Holdings and KWG Living Group Holdings have kicked off pre-deal investor education for a pair of Hong Kong listings.

    • 12 Oct 2020
  • Weihai City Commercial Bank seals HK$2.9bn listing

    Weihai City Commercial Bank has bagged HK$2.9bn ($374.2m) after pricing its IPO at the bottom of the marketed range, according to a source close to the deal.

    • 07 Oct 2020
  • Simcere Pharma, First Service pre-market HK IPOs

    Chinese companies Simcere Pharmaceutical Group and First Service Holdings have started testing investor appetite for their Hong Kong IPOs.

    • 07 Oct 2020

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 19.21
2 China Merchants Bank Co 12.60
3 China Construction Bank (CCB) 10.26
4 Industrial and Commercial Bank of China (ICBC) 9.99
5 Agricultural Bank of China (ABC) 9.30

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 22.44 89 7.39%
2 CITIC Securities 19.78 121 6.52%
3 China International Capital Corp Ltd 19.76 95 6.51%
4 Goldman Sachs 17.76 107 5.85%
5 China Securities Co Ltd 15.52 60 5.11%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 HSBC 28.85 223 7.62%
2 Citi 28.41 169 7.50%
3 JPMorgan 19.37 134 5.12%
4 BofA Securities 18.70 103 4.94%
5 Standard Chartered Bank 17.89 163 4.72%

Asian polls & awards