Greater China

Guangzhou R&F Properties Co attracted a huge order book for its sixth dollar deal this year, while Hong Kong-listed Dafa Properties Group turned to anchor support for its inaugural offshore public bond.

One banker recently went to Macau for a long weekend with his friends, with plans to drink large amount of whisky, eat from overflowing plates of fine food, and gamble until the small hours of the morning. “I’m going to get lucky,” he promised me.

Budweiser Brewing Company Apac cracked open its up to HK$76.4bn ($9.8bn) Hong Kong IPO this week, set to be the city’s largest listing in nearly a decade and the world’s biggest so far this year, with early investor orders coming in thick and fast. Jonathan Breen reports.

Outstanding dollar bonds from troubled Chinese state-owned commodity trader Tewoo Group hit new lows this week after the company’s subsidiary allegedly missed onshore loan payments.

The first four companies to complete IPOs on the new technology board in Shanghai were flooded with phenomenal retail demand of as much as 2,500 times, despite the issuers’ lofty valuations. But an imminent increase in supply could calm the frenzy, writes Rebecca Feng.

DCM bankers in Asia are predicting a record year for bond issuance, following a strong first half buoyed by positive investor sentiment and favourable market conditions. Although the year so far shows a complicated story of feast and famine in different parts of the debt market, there is plenty of optimism for the rest of 2019. Morgan Davis reports.

The Hong Kong Stock Exchange is sifting through three IPO applications submitted by Chinese companies in three different sectors this week.

Hong Kong’s IPO market endured a difficult first half to the year, with trade war tensions and widespread protests fuelling a wave of stock market volatility. But there is plenty of business to get through before the end of 2019. Gina Lee reports.

HK bans Leissner for life over 1MDB scandal – BofA names new Apac IB co-head – CS nabs equity research head – Nomura loses senior Malaysia banker – New appointments at Goldman

The Chinese Ministry of Finance (MoF) completed its maiden Rmb1.7bn ($247m) three year offshore renminbi bond in Macau on Thursday, pricing it slightly higher than onshore government bonds.

The arrest of Future Land Development Holdings’ founder and chairman caused a sharp sell-off in the Chinese property company’s dollar bonds, with analysts worried the incident may hurt its debt-servicing ability in the short and long term.

Swedish car manufacturer Volvo made its debut in Hong Kong dollars on Wednesday amid increasing tensions and unrest in the city.