Greater China

Futu Holdings, theparent of Hong Kong-based Futu Securities International, has hit the road with an up to $130.8m Nasdaq IPO. The firm has cut the size of its float amid shaky markets, but the deal is still being used as a yardstick by its larger competitor Tiger Brokers, which is snapping at Futu’s heels with its own US listing. Jonathan Breen reports.

The Shanghai Stock Exchange’s new board for technology listings is moving closer to launching. But although funds are already getting themselves ready for a wall of retail demand, bankers have a sense of déjà vu. Rebecca Feng reports.

The Export-Import Bank of China raised €1bn from a three year bullet on Wednesday, bringing home more cash than expected thanks to overwhelming orders from eager investors.

Chinese banks will sell at least Rmb240bn ($36bn) of tier two bonds in March, launching what bankers think will be a wall of supply.

Should bond investors be worried about Chinese local government financing vehicles (LGFVs)? After a recent default had almost no impact on the secondary or primary markets, most investors appear to have put aside their concerns. At least for now. Addison Gong reports.

China’s Hefei Guoxuan High-Tech Power Energy and Bank of Communications Financial Leasing are both raising dollar loans. But while Guoxuan is tapping offshore liquidity, Bocom Leasing is targeting onshore banks.

Sichuan Languang Development Co returned to the bond market on Wednesday with a $150m tap of an outstanding deal, bringing its 11% 2020 notes to a total size of $400m.

American International Group has raised HK$3.79bn ($482.3m) from the sale of its remaining stake in People’s Insurance Company Group of China (PICC), according to a term sheet seen by GlobalCapital Asia.

Hong Kong Exchanges and Clearing's derivatives trading revenue hit a record in 2018, helping to lift its profit attributable to shareholders 26% to HK$9.3bn ($1.2bn).

China’s Hefei Guoxuan High-Tech Power Energy is back in the offshore loan market, seeking a smaller deal with a juicier price after cancelling its debut international borrowing last year.

Chinese government-related issuers Zhaojin Mining Industry Co and Yunnan Provincial Investment Holdings Group Co priced dollar bonds after what bankers said was smooth bookbuilding, defying fears that followed a recent default by a local government financing vehicle.

Futu Holdings, parent of Hong Kong-based Futu Securities International, has launched bookbuilding for its potential $130.8m Nasdaq IPO.