Greater China
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Chinese pharmaceutical company WuXi AppTec has raised HK$7.37bn ($950.4m) of fresh equity, in a hotly-anticipated tap of a new mandate to issue A-shares and H-shares. -
China’s Yihua Enterprise Group Co has defaulted on yet another onshore bond, having recently extended payments on two deals that were set to mature this month.
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Yorkie Wong, head of investment banking at Shanghai Pudong Development Bank, has left the firm.
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A new scheme launched by China’s National Equities Exchange and Quotations (Neeq) got off to a poor start this week. Around two-thirds of the 32 companies listed on the ‘selection tier’ board fell on their trading debuts. That was a sharp contrast to the opening day of a local rival, the Shanghai Star board.
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Ant Group revealed last week that it is planning a multi-billion-dollar dual listing in Hong Kong and Shanghai. The company is often referred to as a startup, but it will float at a valuation well above $100bn and has been in business for six years. What is the right term for a company like Ant? It is time for a new moniker.
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China Everbright Bank Co relied on the syndicate team running its deal for a $700m floating rate note on Monday.
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Hong Kong-based Chong Hing Bank’s $250m Basel III-compliant additional tier one (AT1) bond received just muted demand from investors because of its tight pricing approach.
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DaFa Properties Group raised $150m from its bond return on Monday, offering investors a hefty yield of 13.5%.
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China’s Belle International Holdings has returned to the loans market to refinance some of its debt, but has opted for a club loan this time around in a bid to cut costs associated with underwriting.
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Li Auto, a Chinese electric vehicle maker, has opened books for an offering of American Depository Shares (ADS) on the Nasdaq.
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Hong Kong Airlines has deferred a coupon payment on its perpetual dollar bonds.
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Hangzhou Tigermed Consulting, a biopharmaceutical research and development service provider, has covered books on its secondary public offering in Hong Kong on the first day of taking orders.
