Goldman Sachs

US food and commodities firm Archer-Daniels-Midland Co has tapped the equity capital markets for the first time in more than a decade, using a concurrent block of Wilmar International shares and an exchangeable bond — with the same underlying stock — to raise $850m. Jonathan Breen reports.

German electricity company RWE has sold €2bn of stock to fund its long term ambition to grow its renewable energy capacity, via one of the largest block trades this year.

ICBC Financial Leasing Co chose price over size for its first outing to the dollar bond market this year, but still managed to raise a larger-than-expected $900m.

Nasdaq-listed Futu Holdings, parent of Chinese online brokerage Futu Securities, has raised $313.5m from a follow-on offering, hitting the market on the back of a more than 200% surge in its share price this year.

Futu Holdings, parent of Hong Kong-based brokerage Futu Securities, has kicked off bookbuilding for a follow-on of primary stock.

JB Chemicals & Pharmaceuticals’ $206m loan is open in general syndication, with the proceeds going to support private equity firm KKR’s acquisition of a majority stake in the company.

Chinese biotechnology company JW (Cayman) Therapeutics is planning to float on Hong Kong’s stock exchange. It has filed a draft prospectus with the bourse.

Spanish telecommunications infrastructure company Cellnex has finished its €4bn rights issue to fund further M&A opportunities, with an extremely high oversubscription.

Soaring demand and tight spreads lured repeat borrowers as summer dollar bond supply soared with $34bn of new issuance crammed into four days.

Ke Holdings sealed a $2.12bn IPO on the New York Stock Exchange this week, the largest US listing by a Chinese firm in more than two years, defying the shock caused by US sanctions against one of its largest shareholders, Tencent Holdings. Jonathan Breen reports.

Hong Kong rail operator MTR Corp priced a larger and tighter green bond than expected this week, with investors showing their faith in a company that has been forced to battle protests and the pandemic in the past year. Morgan Davis reports.

OneConnect Financial Technology Co, a Chinese technology-as-a-service platform, raised $324m this week from a larger than expected follow-on offering of its US-listed stock.