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Emerging Markets

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African mobile payment provider prepares to list, seeking large valuation
Deep breath for market as more guidance, more mandates appear
Secondary market selling of private bonds may be wreaking havoc with the primary market for public debt but the trades were still the right thing to do

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  • The Hong Kong Exchange’s China Ministry of Finance Treasury bond (T-bond) futures were given a lukewarm reception by investors in the first two weeks of trading. But experts say demand will pick up as China’s onshore bond market opens up further later this year.
  • Bookbuilding for IRB InvIT Fund’s Rp46.5bn ($727.4m) IPO is having a slow start despite the hype surrounding India’s first infrastructure investment trust.
  • HSBC has reported a drop in overall profits for the first quarter of 2017, but strong growth in its Asian businesses as it continues to focus on the region.
  • Crystal International Group has filed a listing application with the Hong Kong Stock Exchange for a $600m-$800m IPO.
  • The Securities and Exchange Commission of Pakistan is giving a fillip to its IPO market, rejigging rules to make the equity-raising process more efficient and less time consuming.
  • Sinochem Group subsidiary Sinochem International Corp is looking to raise $300m from a five year bond, according to a filing with the Shanghai Stock Exchange.