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Emerging Markets

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  • Philippine real estate investment trust MReit filed for IPO approval this week. It is targeting up to Ps27.3bn ($562.3m), which would make it the country’s largest Reit listing.
  • Emerging market investors took the US Federal Reserve’s indication on Wednesday that it would hike rates in 2023 in their stride, allowing Kenya to come to the bond market on Thursday.
  • South Korean video game developer Krafton has set in motion an IPO of nearly $5bn, set to be the country’s largest ever listing — and the first of many chunky deals expected in the second half of the year. Jonathan Breen reports.
  • We always hope to influence our children for the best, but it’s amazing what they pick up.
  • China’s Full Truck Alliance, an Uber-like service for trucks, launched an IPO on the New York Stock Exchange this week. It is aiming to raise up to $1.56bn.
  • Wipro, an Indian information technology business with global reach, sold its first dollar bond this week. The $750m trade catered to international investors already familiar with the company and its credentials.