Greater China

China Overseas Grand Oceans Group (Cogo) has raised HK$4.7bn ($595.2m) from a rights issue of over a billion new shares, despite the deal being undersubscribed by shareholders.

Chinese property company Greenland Holding Group raised $700m last week, returning to the bond market to refinance a pair of short-dated deals it sold in the first half of 2017.

The Hong Kong Stock Exchange is giving IPO hopefuls more flexibility to price outside of indicative price ranges set during marketing, bringing its listing rules more in line with the US.

China launches onshore trading for Thai baht, NPC chairman says Hong Kong remains important to China’s effort to promote the renminbi, and China Construction Bank opens a new branch in Auckland.

China agreed to $12.8bn of deals with the UK during the British prime minister’s state visit, RMB returns as the fifth most used global payments currency, and Aberdeen Asset Management grabs Rmb5.3bn ($842.8m) new renminbi qualified foreign institutional investor (RQFII) quotas.

China Cinda Asset Management Co raised a smaller than anticipated $2.5bn from a four-tranche deal on Thursday, despite having an order book that was about 6.6 times covered at its peak.

China Logistics Property Holdings Co (CNLP) and Future Land Holdings Co both sold bonds with less than one year tenors on Thursday, sidestepping the Chinese regulator’s tight handle on offshore fundraising.

Schiavona International Holdings has raised HK$833.5m ($106.6m) after offloading a block of shares in real estate developer Times Property Holdings, according to a source close to the deal.

Singapore's GLP will approach Chinese investors on Monday with a nine year Panda bond, one of the longest-dated deals ever to feature in the asset class.

It has now become common for bond issuers to stress their 'Belt and Road' credentials. But China Merchants Port has become one of the first issuers to get the official blessing to use the term.

Qatar National Bank has added to a busy run of funding with a $1bn two year private placement that it sold to a single investor, according to sources. The region's banks have tapped the Islamic and Taiwanese markets and issued in Aussie dollars.

Shanghai Pudong Development Bank is set to open its newly authorised UK branch for business next week, with initial plans for wholesale banking and vanilla securities trading.