Greater China

Hong Kong’s Securities and Futures Commission has reprimanded HSBC and fined it HK$2.5m ($$322,260) for regulatory breaches and internal control failings linked to position limit failures, it said in a statement.

China Construction Bank (CCB) is set to become the fourth Chinese lender to securitize nonperforming loans (NPLs) with a Rmb702m ($105m) offering scheduled to launch on September 20.

Taiwanese electronics company Foxconn (Far East) has set its sights on a dual-tranche dollar offering, launching the bond on Wednesday morning in Asia.

Hong Kong’s Jacobson Pharma Corp has wrapped up bookbuilding for its IPO, bagging HK$659.4m ($85m) following a strong turnout from long-only accounts.

China’s Industrial Bank took advantage of a quiet primary market on Tuesday, bagging $1bn from a dual trancher. Given the softer tone this week, the issuer went out with realistic expectations on pricing, which was key to the transaction’s success, according to bankers.

It has been 10 months since Malaysia received its renminbi qualified institutional investor (RQFII) allotment from China yet not a single institution from the southeast Asian country has been able to attain a licence. However, the lack of progress is about to end with several market participants telling GlobalRMB they are confident the first RQFII licence could be awarded by the end of the year.

Chinese healthcare and education names are flocking towards Hong Kong for IPOs, with the most recent filings coming from New Century Healthcare Holding Co and China Yuhua Education Corp.

Prosperity Real Estate Investment Trust opened a HK$1.95bn ($251.51m) borrowing into general syndication on Tuesday to raise fresh funds for an acquisition in Hong Kong.

Bank of Communications Co is set to ask for shareholder approval for its $300m spin-off and listing of its investment banking subsidiary BoCom International in Hong Kong.

HSBC has named Jackson Tai, the former Asia Pacific chairman of JP Morgan and chief executive officer of DBS, as an independent non-executive director of its board.

Industrial Bank Co has thrown open books for a dual-tranche dollar offering following a series of fixed income investor meetings at the start of the month.

Postal Savings Bank of China has started taking orders for a Hong Kong IPO that could be worth HK$62.7bn ($8.1bn). Set to be the world’s largest float in two years, the deal is going to add about $130m in fees to the underwriters’ coffers.