Greater China

Zhengzhou Metro Group became the latest Chinese local government financing vehicle (LGFV) to price a dollar bond, turning to the market on the same day two issuers in Chengdu and Yichang also raised funds.

Fantasia Holdings Group Co locked up a final dollar deal of the year on Thursday, but paid a generous 15% yield to secure anchor orders for the transaction.

AviChina Industry & Technology Company is seeking the greenlight for an H-share placement of up to HK$1.37bn ($175m), partly in a bid to broaden the shareholder base of the company.

Shanghai Junshi Biosciences kicked off bookbuilding this week for a potential HK$3.24bn ($414.4m) IPO and by Thursday had the float covered across the price range, according to a banker on the deal.

The Hong Kong Stock Exchange and its counterparts in Shanghai and Shenzhen have reached a deal to include companies with dual-class shares on the southbound trading of Stock Connect.

Chinese telecommunication software provider AsiaInfo Technologies raised HK$900m ($115m) this week after pricing its flotation at the bottom of the indicative range.

Tencent Music Entertainment Group (TME) gave investors a year-end treat this week with 2018’s last billion-dollar IPO from an Asian issuer. It was paid back with a near 8% jump in its stock price on the first day of trading. But to succeed the firm had to cut its fundraising target and get realistic on pricing. Jonathan Breen reports.

Chinese sportswear company Anta Sports Products is in talks with its six-strong bank group, mulling the syndication strategy for a €2.2bn five year loan to support the acquisition of Finland’s Amer Sports Oyj.

As many as nine local government financing vehicles (LGFVs) came to the offshore bond market this week, relying on anchor orders to price deals before their regulatory quota expires. But as 2018 nears its end, the pressure the sector faces is far from over, writes Addison Gong.

Greenland Hong Kong Holdings closed the year with a $200m bond on Wednesday, as the high yield issuer took advantage of its anchor investors and the relatively positive market backdrop.

The depository arm of Canada’s TMX Group is testing a bond link with the Shanghai Clearing House, offering the latest way for foreign investors to access China’s onshore bond market. But while the new link will give Canadian and US investors more freedom to choose onshore dealers, it is unlikely to address some investors’ worries over privacy.

Hong Kong Exchange and Clearing hired from Citi's Hong Kong team in a bid to boost its post-trade capabilities on Stock Connect and beyond.