Greater China

Crisis-hit countries that go through a painful debt restructuring programme as part of a bailout enjoy much steeper cuts in their medium-term debt, according to an independent analysis of International Monetary Fund rescue programmes.

Three Chinese companies joined the queue to list in the US within the past week. Youdao, an online education platform founded by Chinese technology company NetEase, is planning the largest of the IPOs, seeking up to $300m.

An evening at Captain’s Bar always provides me with an endless source of gossip, anecdotes and entertainment. This week proved as reliable as ever, when I took up my perch with my usual glass of whisky.

The number of syndicated loans in Asia has reached a new low this year, as the market takes a hit from volatility and regulatory headaches around funding M&A transactions. There is no respite in sight, however, with bankers predicting a tough end to 2019. Pan Yue reports.

Hong Kong SAR’s equity capital market has come back to life recently with a handful of well-received IPOs. A further boost is also likely if the US goes ahead with its threat of banning Chinese listings on its exchanges, writes Jonathan Breen.

China’s asset backed securities (ABS) market has had a stellar year so far, with volumes jumping thanks to a big push from the regulators. But it’s not just a numbers story. The depth of the market has also improved, with better secondary liquidity and more offshore participation.

Chinese sportswear retailer Topsports International Holdings has raised HK$7.9bn ($1bn) from its IPO on the Hong Kong Stock Exchange, pricing the deal just above the bottom of the marketed range.

International G3 currency bond issuance in Asia is set to surpass 2018’s numbers before the end of the year, as relatively stable market conditions provide borrowers with fundraising opportunities. But DCM bankers warn that things could turn in the blink of an eye, as geopolitical tensions threaten to disrupt their fourth quarter business. Morgan Davis reports.

Cathay Pacific cruised to a Hong Kong dollar deal at the end of September, just days after it began a roadshow for a new dollar transaction.

Youdao, an online education platform founded by Chinese technology giant NetEase, is planning an IPO of American Depository Shares (ADS), having filed a draft prospectus with the US regulator.

The Shanghai Stock Exchange (SSE) has published statistics of the companies that have applied for and listed on the Star board since its launch, giving market participants a closer look at the firms that the bourse has attracted.

Hong Kong-based small appliance maker JS Global Lifestyle Co has kicked off pre-deal investor education for its listing on the stock exchange, according to a source familiar with the matter.