Greater China

In this policy round-up, the People’s Bank of China revealed plans to fix its bond rating industry, state-owned entities remain a driving force in onshore equities performance, and Moody’s says the dollar is unlikely to be challenged as a global reserve currency any time soon.

China Renaissance, the boutique investment bank founded by Fan Bao, is bookbuilding for a Hong Kong IPO to raise around HK$3bn ($377m).

Hong Kong and Shanghai-listed Huatai Securities is seeking shareholder approval to spin-off AssetMark Financial Holdings through an IPO in the US.

As an old-school, retired banker, I never had to face too much pressure from technology or compliance, both of which seem to be taking over the lives of young bankers.

Asia’s Basel III compliant additional tier one market is set for a turnaround after a quiet year, following Bank of China (Hong Kong)’s $3bn issuance this week. As the pipeline builds up, bankers are predicting a pick-up in deal flow as early as next month, writes Addison Gong.

Two Chinese companies, CMBC Capital and Luye Pharma Group, are tapping the offshore loan market for the first time, seeking HK$1.4bn ($178m) and $300m respectively.

A week of turmoil in emerging market stocks could not dampen investor enthusiasm for China’s biggest post-summer IPOs, as issuers used a mix of tight cornerstone allocations and compelling equity stories to get across the finish line. John Loh reports.

Agricultural Bank of China International raised $800m from a fixed and floating combination deal on Wednesday.

X Financial opened books on Thursday for a $121m listing on the New York Stock Exchange, as bankers believe the worst is over for China’s beleaguered peer-to-peer lending sector.

Shandong Gold Mining launched a HK$6bn ($767m) Hong Kong IPO on Thursday, seeking funds to pay for the acquisition of an Argentinian mine — its first overseas asset.

Bank of China (Hong Kong) has raised $3bn from a Basel III compliant additional tier one transaction, drawing attention for both its size and price.

Nio, the electric car company nicknamed China’s Tesla, priced its $1bn New York Stock Exchange IPO on Wednesday off the floor.