Goldman Sachs

Mainland-based Jacobio Pharmaceuticals has kicked off the roadshow for its Hong Kong listing. It is eyeing a valuation of up to HK$10.6bn ($1.37bn).

Samhällsbyggnadsbolaget i Norden (SBB), the Swedish social housing company, ploughed through fair value on Tuesday with a debut social bond and return to the hybrid market, as tightening spreads encourage investors to keep their wallets open deeper into December.

Samhallsbyggnadsbolaget i Norden (SBB), the Swedish social property company, has hired banks for €1bn of new deals made up of a hybrid note and debut social bond, as risk appetite remains strong even heading into the middle of December.

Fadi Abuali and structured finance banker Zaid Khaldi are set to replace Wassim Younan and head up the Middle East and North Africa region for Goldman Sachs.

Flutter Entertainment, the parent of bookies Paddy Power and Betfair, has returned to the equity capital markets with a £1.1bn share sale to finance its acquisition of a stake in FanDuel Group, the New York-based fantasy sports and online casino company.

Dada Nexus, which operates on-demand retail and delivery platforms in China, raised $450m this week after selling a chunk of new equity.

The dollar bond market is wide open for companies to take advantage of strong demand and a rally in spreads, boosting hopes for a busy end to a record year for investment grade issuance.

Opportunistic corporate issuers had a strong week of it in Europe's bond market, increasing deal sizes and enjoying bulging order books as investors turned positive on the outlook for the market.

Grand City Properties, a German real estate company, opened books on a hybrid trade on Thursday, leaving some corners of the market surprised that investors would still be open to taking on high beta assets this late in the year.

Webuild, the Italian construction company formerly known as Salini Impregilo, has launched a refinancing of its €600m 2021 bond, after finally completing the takeover of stricken competitor Astaldi at the beginning of last month. The new tender offer is intended to finish a refi attempt started in January, which received lacklustre take-up.

GardaWorld, the Canadian security company, made its final pitch for larger UK rival G4S on Wednesday, raising the offer to £3.68bn in a deal that will land the lenders up to £180m in fees.

Smartphone maker Xiaomi Corp pocketed $3.96bn this week from a record top-up placement and concurrent convertible bond issue. Investors flocked to the transaction for its rarity value, investment grade rating and the offer of a liquid and volatile stock. Jonathan Breen reports.