Greater China
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China’s Yingde Gases Group has received a strong response in the loan market for its $300m three year facility. -
Components manufacturer Impro Precision Industries this week began its third attempt to float on the Hong Kong Stock Exchange.
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A year ago, Hong Kong’s stock exchange (HKEX) added a new chapter to its regulations, allowing pre-revenue biotechnology companies to list. The historic move has turned the city into the biotech IPO hub of Asia. But its fortune could change if the Mainland’s new Nasdaq-style Shanghai tech board, which offers similar pre-revenue concessions, stems the flow of its primarily Chinese issuers.
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China made big strides developing its green bond market last year, moving closer to international standards and producing a volume of issuance that placed it only behind the United States. But this year, the market has gone backwards. What has happened to Chinese green bond issuance?
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The first batch of seven funds looking to invest in the new Shanghai tech board saw a total of more than Rmb100bn ($14.8bn) coming in on the first day they opened books.
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Just two Asian borrowers visited the international debt market on Monday, raising nearly a combined $800m ahead of the public holiday on May 1.
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Fitch has downgraded Tewoo Group, a Chinese state-owned commodities trader, by six notches, citing the company’s weak liquidity and high leverage. The Tianjin government’s financial ability to support its related entities was also brought into question.
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Semiconductor Manufacturing International Corporation (SMIC), a Shanghai-based chipmaker, returned to the Panda market on Monday with two 180-day notes, raising Rmb1.5bn ($223m) in total.
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Duiba Group has completed its second attempt at listing on the Hong Kong Stock Exchange.
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MUFG has named veteran Taiwanese banker Randy Hung to run its Taipei-based global corporate banking team.
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Boutique investment bank Alantra has made new hires across its offices in Europe, Asia and the US.
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Huatai Securities has taken a further step to selling shares in an indirect subsidiary, AssetMark Financial Holdings, after filing initial paperwork for the US listing.
