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Trade bodies speak out against push to drive equity trading on to lit markets
Shares trade 8% above offer price as shipping company completes second listing
TX Group and SMG absorb almost 60% of block as insurer cuts holding to 11.8%
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The final pieces came together for the Shanghai-Hong Kong Stock Connect this week after the regulators removed a big uncertainty around the issue of beneficial ownership. While this is a welcome change, market participants also say the timing is unfortunate, as southbound flows are expected to take centre stage. John Loh reports.
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Yunnan Water Investment sold shares in its Hong Kong IPO at the top of expectations, raising HK$1.67bn ($215.45m) on May 20 in a trade where exuberant investors, both retail and institutional, made their presence felt.
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Singapore’s Keppel Infrastructure Trust has opened books on an accelerated share sale to raise S$525m ($397m) via a primary placement and preferential offer.
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Baozun Inc has priced its IPO on Nasdaq below an earlier marketing range, raising $110m for the largest US listing by a Chinese issuer so far this year.
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The European block trade market exploded into life on Tuesday evening with five deals executed, as opportunistic issuers tapped investors while this year's European Central Bank-fuelled stock market rally continues.
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América Móvil won very strong demand on Wednesday May 20 for a landmark exchangeable bond issue, into its holding in Koninklijke KPN, the Dutch telecoms company.
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