Greater China

Equity collars rarely make a public appearance in Asia’s capital markets. but Citi has shone a light on the product, after using a block trade to hedge its position in a collar it had structured for a high net worth client. Bankers think the deal will drive more demand for the structure. Jonathan Breen reports.

China said this week that it will radically overhaul the ChiNext board, approving a registration-based system for equity fundraising on the Shenzhen Stock Exchange’s start-up focused bourse. This is an important step by the regulator to shift to more market-driven capital markets ─ but plenty of concerns remain. Addison Gong reports.

Hong Kong-listed Country Garden Services Holdings made its equity-linked debut this week, tapping investors for HK$3.88bn ($500m) with a sub-one year zero coupon convertible bond.

Chinese developer Gemdale has backtracked on plans to cut the coupon on an outstanding renminbi bond by 379bp, after a backlash from investors.

Hong Kong's Wharf Real Estate Investment Company (Wharf REIC) raised $750m from a dual-tranche bond on Tuesday. The issuer was able to take more than it initially intended, while paying a small new issue premium.

Do you remember what it was like to work in an office? Blissfully boring. Those working from home now have to juggle work and personal life — and try not to turn their children into market-savvy scoundrels.

The Singapore Exchange (SGX) and Citic Securities Co have signed an agreement to collaborate across multiple parts of Asia's capital markets.

The Hong Kong Stock Exchange has shaken up its listing division, promoting Stephanie Lau and Katherine Ng to leadership positions.

The China Securities Regulatory Commission (CSRC) has kicked off big reforms to the ChiNext board, in a bid to revive its appeal once again to fast growing and high tech companies that have been favouring the Shanghai’s Star market since its launch last year.

The African business unit of China Nonferrous Metal Mining (Group) Co, a mainland state-owned company, is tapping the offshore loan market for the first time, seeking $300m.

Hong Kong-listed Country Garden Services Holdings has tapped equity-linked investors for HK$3.88bn ($500m), selling a sub-one year zero coupon convertible bond.

Beijing Enterprises Clean Energy Group (BECE) has returned with a three year renminbi-denominated puttable bond, bringing yet another green transaction to the Panda market.