Greater China

Global mining firm MMG, whose largest shareholder is China Minmetals Corp, has proposed a rights issue of over 2.5bn new shares in a move to raise HK$4.0bn ($515.8m).

A subsidiary of Chinese electro-acoustic product maker Goertek has approached banks for a $150m three year borrowing.

State-owned China Nuclear Engineering Group Co (CNEC) has hired banks to test appetite for its inaugural CNH bond — the third time it is attempting to sell a dim sum deal.

Hong Kong’s IPO sponsors are in the spotlight for all the wrong reasons as Standard Chartered and UBS face investigations by the city’s regulator. As a former IPO banker and joint author of the study manual for sponsors, our columnist Clawback is perfectly placed to delve into the pitfalls for banks.

The Dubai Gold and Commodities Exchange (DGCX) has announced plans to launch a renminbi futures contract, with Gaurang Desai, CEO of the exchange, telling GlobalRMB the contract has already received regulatory approval.

Aluminum Corporation of China (Chalco) raised $500m from a perpetual non-call five year bond on Monday, managing to woo investors against a volatile backdrop.

Standard Chartered may be penalised by the Hong Kong Securities and Futures Commission (SFC) for its role as a joint sponsor on an IPO from 2009, amid a wider crackdown on banks by the market watchdog.

Two Chinese banks and one Taiwanese lender have banded together to supply a $630m leveraged buyout financing to support Carlyle’s acquisition of VXI Global Solutions.

Clearstream launched the China Bond Link on October 17, which is designed to connect overseas investors with the China interbank bond market. The firm expects to see growing interest in China fixed income as a result of broader RMB adoption, a spokesperson for the central securities depository told GlobalRMB.

Central China Real Estate has extended bookbuilding for its bond by one day after experiencing lukewarm demand. A combination of a volatile market backdrop, the company’s weakened financial performance and overly ambitious price guidance put investors off from committing.

Euronext and the Shenzhen Stock Exchange (SZSE) signed an agreement last month to increase the public profile of small and medium sized technology enterprises listed on both exchanges. This is the latest in a series of initiatives between the two parties which Lee Hodgkinson, Euronext’s head of markets and global sales, said is part of a strategy to bring Europe closer to China.

Wuhan Metro Group and Jiangsu Zhongguancun are the latest Chinese corporates to launch inaugural dollar bonds, while Huishang Bank has issued a mandate for additional tier one, it’s first offshore transaction.