• CMP offers premium to sell perpetual duo

    China Merchants Port Holdings Co (CMP) paid a generous premium to close a $600m dual-tranche bond on Tuesday, responding to weakness in the secondary prices of similar deals.

    • 30 Sep 2020
  • Weihai City Commercial Bank kickstarts HK$3.1bn IPO

    China’s Weihai City Commercial Bank has launched its Hong Kong IPO and is aiming to raise HK$3.1bn ($397.3m) from the deal.

    • 29 Sep 2020
  • Baozun seals $428m Hong Kong secondary listing

    Baozun, a Nasdaq-listed e-commerce solutions provider, raised HK$3.3bn ($427.5m) from its secondary offering in Hong Kong this week, wrapping up the deal on strong international demand.

    • 24 Sep 2020
  • Asia bonds hit roadblock as heavy supply continues

    Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.

    • 24 Sep 2020
  • CDB Leasing sells first dollar tier two bond

    China Development Bank Financial Leasing Co had to tackle questions from investors and weaker market conditions to sell the first dollar tier two bond from a Mainland leasing company.

    • 23 Sep 2020
  • ZTO Express, Zai Lab wrap up HK secondary listings

    Chinese logistics company ZTO Express (Cayman) and biopharmaceutical firm Zai Lab wrapped up their secondary listings in Hong Kong on Tuesday.

    • 23 Sep 2020
  • Genor Biopharma targets $371m from Hong Kong IPO

    JHBP (CY) Holdings, a holding company for China’s Genor Biopharma, hit the road for its Hong Kong IPO on Wednesday. It is aiming to raise up to HK$2.9bn ($371.2m).

    • 23 Sep 2020
  • Zai Lab and Baozun add to HK ECM momentum

    US-listed Chinese companies Zai Lab and Baozun have kicked off secondary offerings on the Hong Kong Stock Exchange, adding further momentum to the city’s already hot equity capital market.

    • 17 Sep 2020
  • Huazhu guides investors on HK$6bn listing

    Chinese hospitality company Huazhu Group is on track to raise around HK$6.06bn ($781.8m) from its secondary offering in Hong Kong, after sending price guidance to investors.

    • 16 Sep 2020
  • ZTO Express joins hot secondary offering market with $1.6bn deal

    Mainland-based logistics company ZTO Express (Cayman) has hit the road with its Hong Kong secondary offering, with two other Chinese US-listed firms hot on its heels.

    • 16 Sep 2020
  • CTCM navigates volatility with short-term tight Panda

    China Traditional Chinese Medicine printed a Rmb1bn ($146m) 270-day super short-term Panda bond last Friday. The issuer opted for a short tenor due to the difficult onshore debt market conditions.

    • 14 Sep 2020
  • Fulu nabs $115m from Hong Kong listing

    Virtual goods platform Fulu Holdings has raised HK$890m ($114.8m) after pricing its IPO at the top of the marketed range, according to a source close to the deal.

    • 14 Sep 2020
  • Guangzhou Metro grabs $830m from dual-tranche outing

    Chinese local government financing vehicle (LGFV) Guangzhou Metro Group Co priced a tight dual-tranche deal on Thursday, including a 10 year tranche for the first time, in a bid to take advantage of falling yields.

    • 11 Sep 2020
  • CréditAg seals Panda bond after three-month hold-up

    Crédit Agricole printed its long-awaited Rmb1bn ($146m) Panda bond this week, after delaying its offering by nearly three months due to volatility in China’s onshore debt market.

    • 11 Sep 2020
  • EV battery maker CATL fires up investors with maiden bond

    Chinese battery maker Contemporary Amperex Technology Co (CATL) made its debut in the bond market on Thursday with a $1.5bn dual tranche deal that saw demand of nearly $14bn coming in.

    • 11 Sep 2020
  • Huazhu Group kicks off HK$7.3bn HK secondary listing

    Chinese hospitality company Huazhu Group has launched a secondary offering in Hong Kong, the latest in a growing number of dual listings on the bourse.

    • 11 Sep 2020
  • Citi drops Boqii’s $115m NYSE listing

    Chinese pet-focused e-commerce site Boqii Holding filed its listing documents for a US IPO on Tuesday, but Citigroup, one of the original lead banks on the deal, is now no longer in the syndicate.

    • 09 Sep 2020
  • Virtual goods platform Fulu launches HK$890m listing

    China’s Fulu Holdings hit the market on Monday, opening books for an IPO that could raise up to HK$890m ($114.8m).

    • 07 Sep 2020
  • Zhenro finds price advantage with debut green bond

    Investors rewarded Zhenro Properties Group for selling its first green bond this week, pumping orders into the $350m transaction and allowing the issuer to price the deal at its lowest coupon ever.

    • 04 Sep 2020
  • Yum China guides investors to $2.2bn listing

    Yum China, the Mainland-based fast food franchise operator, was eyeing at least HK$17.3bn ($2.2bn) in fresh equity on Friday after giving investors some price guidance for its secondary listing in Hong Kong.

    • 04 Sep 2020
  • Investors fill up on billion-dollar Yum China IPO

    Fast food franchise operator Yum China Holdings is cooking a multi-billion-dollar secondary offering in Hong Kong. It is the latest deal in a growing trend that bankers expect will bring more US-listed Chinese companies to the exchange by the the end of 2020, writes Jonathan Breen.

    • 03 Sep 2020
  • CMB paves Greater Bay Area green

    China Merchants Bank (CMB) sold its first green bond on Wednesday, taking $800m on the back of support from sustainability-focused investors.

    • 03 Sep 2020
  • China Resources Mixc Lifestyle, Cheerwin line up HK listings

    Property manager China Resources Mixc Lifestyle Services is planning an IPO on Hong Kong’s stock exchange, getting the ball rolling with an application to the bourse this week.

    • 01 Sep 2020

Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.45
2 Industrial and Commercial Bank of China (ICBC) 13.56
3 China Merchants Bank Co 12.10
4 China Construction Bank (CCB) 9.85
5 Agricultural Bank of China (ABC) 8.93

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%

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