Greater China

SC Lowy co-founder and CEO Michel Löwy talks to GlobalCapital about developing a DCM business, Italy and entrepreneurship.

China Huarong Asset Management Co focused on getting a sensible price rather than a large size with its Tuesday bond issue, raising $1.1bn from three tranches. The deal followed a probe of its former chairman earlier this year, as well as a general widening of bonds from the sector.

Chinese steel e-commerce platform Zhaogang.com is seeking the green light for a Hong Kong IPO of up to $400m, according to a banker close to the deal.

Chinese mobile streaming platform Inke hit the road with its Hong Kong IPO on Wednesday. With strong anchor demand in the bag, it is reaching for proceeds of up to HK$1.5bn ($192.6m).

Nasdaq-listed Momo this week bagged $650m from its first convertible bond, shrugging off a volatile market to close the deal multiple times covered.

The Chinese Ministry of Finance (MoF) is aiming to raise Rmb10bn ($1.53bn) in its offshore renminbi (CNH) bond auctions in Hong Kong this year. The sovereign issuer is also selling $3bn of notes outside China, marking its second outing in the dollar market in two years.

Chinese mobile game publisher FingerTango is on the road in Hong Kong with an IPO that could raise up to HK$1.63bn ($208.3m).

Chinese financial leasing firm Far East Horizon (FEH) nabbed $400m from a floating rate note on Monday that required an arduous price discovery process.

Pacific Basin Shipping has closed a $325m revolving credit facility that attracted eight lenders.

Xiaomi Corp’s decision last week to drop Chinese Depositary Receipts from its jumbo IPO, following hard questions from the regulator, may look like a backwards step for China. But the regulator was right to put market stability above the whims of any issuer — even if it means turning away the IPO of the year.

Chinese internet search giant Baidu is considering the sale of China Depository Receipts (CDRs).

More companies are planning to follow Qingdao Haier’s lead as it prepares to sell the first batch of D-shares, a new asset class for Chinese stocks listed in Germany, a spokesperson at the China Europe International Exchange (Ceinex) told GlobalCapital Asis's sister publication GlobalRMB.