Greater China

Hong Kong’s renowned activist investor David Webb revealed this week that he has been diagnosed with cancer and will be taking a step back from his regular critiquing of governance and regulation in the city.

58.com, a Chinese company that focuses on online classified advertisements, is in talks with banks in the country for a financing package of $3bn to support its take private.

Chinese real estate companies China Fortune Land Development and Ronshine China Holdings raised a combined $550m in the bond market on Tuesday, but their tight pricing did not appeal to all investors.

China’s two major stock exchanges have published guidelines on how bond issuers should change the coupons on outstanding deals, reacting to a wave of coupon reductions that occasionally led to confrontations between investors and issuers.

Everbright Water pulled a Rmb1.2bn ($170m) five year note on Tuesday, despite the leads extending bookbuilding and offering investors a juicier price.

China Yongda Automobiles Services Holdings has added HK$994.8m ($128.4m) to its coffers after selling a chunk of stock in a top-up placement.

Chinese electric vehicle manufacturer Nio hit the US market with a follow-on offering of American Depositary Shares (ADS) on Tuesday.

Shanghai Construction Group Co leveraged on its state ownership to attract investors to a $600m bond that was priced inside of fair value.

Bohai Bank’s Hong Kong IPO application was being considered by the stock exchange’s listing committee on Tuesday, according to a source close to the deal.

Hong Kong-based Lei Shing Hong Credit has added a TaiFX-Libor clause to its new $320m loan, allowing it to offer a margin that is flat to its last transaction.

Hong Kong’s Champion Reit sold a tightly priced $300m bond on Monday, enticing investors with its rarity in the international market.

Far East Horizon, a Hong Kong-listed financial services firm, has returned to the offshore loan market. It is aiming to raise $1.4bn to refinance two deals maturing this year.