Goldman Sachs

China Resources Pharmaceutical Group is proving a hit with global investors, as its HK$15.7bn ($2.0bn) Hong Kong IPO is heavily oversubscribed, according to a banker at one of the leads.

Korea National Oil Corp priced a dual-tranche offering on Monday, selling a 10 year portion at a tighter spread than a five year, according to bankers.

Mark Schwartz, Goldman Sachs’ chairman for Asia Pacific and vice-chairman of the firm, has decided to leave at the end of the year, bringing an end to his 27-year-long tenure at the bank.

German residential and commercial property company Aroundtown Property hit the investment grade corporate bond market for its debut hybrid transaction on Monday, executing the deal in a market where indices fell.

The European Investment Bank was first into the dollar market this week with a three year mandate, the maturity of choice for dollar issuers over the last few weeks. Export Development Canada last Friday sold the first five year dollar benchmark from SSA in several weeks and, while it went well, bankers do not expect other issuers to follow suit.

Japanese technology giant SoftBank and the Public Investment Fund of Saudi Arabia have agreed to set up a UK-based technology fund for up to $100bn and have employed former bankers from Deutsche Bank and Goldman Sachs to help with the project.

Lenders are preparing the financing package for the $3.2bn leveraged buyout of Polish online retailer Allegro. A loan for the deal is likely to be mostly dollar denominated, bankers said.

Korea National Oil Corp is marketing its new dual-tranche offering with the same levels of initial guidance for five year and 10 year portions.

Goldman Sachs has named Raghav Maliah as head of southeast Asia investment banking, while picking Dan Swift to lead the lender’s Singapore team.

ZTO Express has revealed the terms for its upcoming $1.3bn US IPO, which will be the largest listing in the country by a Chinese firm since Alibaba Group Holdings' $25bn float in 2014.

Asia is gearing up for a bumper week of IPOs, with two $2bn deals launching on Monday and other smaller-sized floats vying for investor attention in what has been an action-packed October.

A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.