Greater China

A busy Tuesday for dollar supply in Asia DCM is continuing unabated with a handful of launches and mandates, including one in euros, announced on Wednesday.

Hong Kong regulators on Tuesday decided that delta one warrants will not be classified as over-the-counter derivatives products, mirroring the actions of European Union authorities.

Bank of China Group Investment debuted in the Panda bond market on June 23, raising Rmb1.5bn ($219.6m) from a three year note. Its deal marked the second Panda issuance by a financial institution this year, following China Citic Bank International’s deal in May.

China’s Baidu is readying a dual-tranche dollar bond offering, mandating banks for the deal, while Melco Resorts Finance opened a tap of its May notes on Tuesday.

Greenland Hong Kong Holdings returned to the market on Tuesday for the second time in as many weeks, as Shandong Ruyi Technology Group Co and Hong Kong conglomerate Swire Pacific also launched dollar deals.

Best, the Chinese logistics company backed by Alibaba Group Holdings, has announced its intention to float on the New York Stock Exchange or the Nasdaq.

Instinet, the equity execution services arm of Nomura, has named Stuart Knowling as the new CEO for Asia Pacific.

Details around the Bond Connect are still trickling in just a week from the expected July 3 launch, with some analysts raising the spectre of a last minute U-turn by PBoC on its decision not to have aggregate quotas over the scheme.

The sub-underwriting phase of a HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings has wrapped up, with nine lenders joining original mandated lead arranger and bookrunner (MLAB) Bank of America Merrill Lynch (BAML).

FIT Hon Teng is set to launch bookbuilding for its $500m Hong Kong IPO on Thursday, according to a source close to the deal.

Haitong Securities, the Chinese brokerage and investment banking group, has applied for permission from the China Securities Regulatory Commission (CSRC) to spin off and list Haitong UniTrust International Leasing on the Hong Kong Stock Exchange.

Qingdao Lidong Chemical Co, a unit of petroleum products company GS Aromatics, is seeking a $60m loan in general syndication.