Greater China

China Great Wall Asset Management Corp launched its dual-tranche offering on Thursday morning.

China Resources Pharmaceutical Group has tightened the price range on its IPO, putting it on track to raise up to HK$14.8bn ($1.9bn), according to a banker on the deal.

Yuzhou Properties Co’s latest bond had a bumpy ride this week as it struggled to garner interest for a longer tenor and one of its joint global co-ordinators dropped out.

New Silkroad Culturaltainment plans to raise HK$1.5bn ($193.3m) from a proposed open offer of shares, according to a filing with the Hong Kong Stock Exchange.

Brazil’s biggest producer of processed food BRF has signed up as a cornerstone investor on Cofco Meat Holdings’ HK$2.59bn ($333.9m) IPO, according to a statement from the São Paulo-based company.

ZTO Express and Samsung BioLogics are seeing bumper responses for their jumbo IPOs in the US and South Korea respectively, as bankers expect their bookbuilds to gain even more momentum.

Taiwanese solar cell manufacturer Neo Solar Power has raised $120m from a zero coupon convertible bond backed by a standby letter of credit (SBLC). The deal was driven by a hefty fall in NSP’s stock price, pushing the issuer to redeem its outstanding notes early.

Huai’an Traffic Holdings, the local government financing vehicle (LGFV) for the Huai’an municipal government, has locked in $300m from its inaugural international offering as investors put faith in the issuer’s strong link to the Jiangsu province.

Plans abound to connect China’s bond market with offshore counterparts but they have had little success until recently. Now Russia’s National Settlement Depository (NSD) is close to launching a link in the first half of 2017, Eddie Astanin, chairman of the executive board, told GlobalRMB.

Malaysia’s CIMB Group and China Galaxy Securities Co said they are in talks to form a 50:50 joint venture for their stockbroking operations.

China Resources Pharmaceutical Group is proving a hit with global investors, as its HK$15.7bn ($2.0bn) Hong Kong IPO is heavily oversubscribed, according to a banker at one of the leads.

Chinese ABS buyers are gearing themselves up for a rare visit from Toyota. The company’s China auto leasing arm is poised to launch a Rmb3bn ($445m) offering this week following a more than two year absence.