Greater China

Postal Savings Bank of China will raise up to HK$62.7bn ($8.1bn) via its Hong Kong IPO after setting the price range, putting it on track to be the world’s biggest listing in two years.

Renminbi foreign exchange markets were thrust back into the spotlight this week after the offshore renminbi interbank rate jumped. Analysts believe that People Bank of China's (PBoC) interventions are the driver for the third spike in CNH Hibor this year.

Asian primary bond market calmed down after a frantic Thursday, with only two issuers opening books

KfW this week added its name to a run of offshore renminbi issuers over the last few weeks, with investors appearing to be keen for paper that can offer a yield of over 3%.

CME Group has expanded its reach in both Asia and Latin America, with Hong Kong and Mexico recognising the firm as a central counterparty (CCP).

Veolia Environnement became the first French company and only the second European corporate to issue a Panda bond, raising Rmb1bn ($150m) this month with a privately placed note.

Two Hong Kong-based loans bankers from Bank of America Merrill Lynch’s Asia Pacific debt solutions team have left, while Bank of Tokyo-Mitsubishi UFJ has lost its southeast Asia loans head.

Dalian Wanda Group Corp is expected to begin gauging demand for a $600m borrowing next week that help to fund the development of a tower project in Chicago, said sources.

US-listed Chinese travel company Ctrip.com International has raised $2.2bn after pricing a convertible bond and a block of American Depositary Shares.

Asia’s block market got a boost this week as investors sold down stakes in Longfor Properties Co and People's Insurance Company of China (PICC) in Hong Kong, while Lippo Group trimmed its holding in Indonesia’s Matahari Department Store.

In a shift that has some bankers worried, Hong Kong’s IPO market has reached a stage where advisers need to pitch for a deal armed with cornerstone investors. Equity capital markets houses can no longer rely on their experience and investor contacts to win business as issuers turn a deaf ear to price discovery. Jonathan Breen reports.

Drug company Jacobson Pharma Corp kicked off bookbuilding this week for its potential HK$753m ($97.1m) listing.