DBS

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.

Indian software firm Hexaware Technologies has wrapped up a $600m loan to fund its take-private by Baring Private Equity Asia.

Formosa Plastics Corp has shortlisted six banks to arrange a multi-tranche financing for its Vietnam business.

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.

Singapore-listed Mapletree Logistics Trust has raised S$650m ($479.8m) in fresh equity after boosting the size of its placement.

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.

China Development Bank (CDB) raised nearly $3bn from dollar and euro bonds on Monday, appealing to investors due to its rarity in the debt market.

Singapore-listed Mapletree Logistics Trust is funding an acquisition spree of logistics assets in Asia by tapping the equity market for up to S$650m ($479m).

Asia’s dollar bond market has been swamped with new deals this week. Thursday was no different, with corporate borrowers from Greater China alone raising just over $3bn between them.

SMC Global Power Holdings Corp was one of the few Asian issuers outside of China to turn to the dollar market this week. The Philippine borrower attracted ample investor support, allowing it to raise more money than it had first planned.

Indonesia’s Star Energy Geothermal found solid investor demand for Asia’s first dollar-denominated project bond of the year. The deal was helped by the issuer’s investment grade rating and a green label that helped reduce pricing. Morgan Davis reports.

Indian conglomerate Reliance Industries has made a quick return to the loan market, raising a $1bn facility to refinance a bond maturing later this month.