Greater China

Hong Kong property developer Lai Sun Development has closed a HK$924.3m ($119m) one-for-two rights offering that was just short of 70% subscribed.

After two years of promoting renminbi internationalisation at full speed, Chinese regulators have put on the brakes as they go to extraordinary lengths to stop the currency leaving the country. Could RMB internationalisation become RMB re-nationalisation in 2016?

Union Medical Healthcare has kicked off pre-deal investor education for its $100m-$150m IPO in Hong Kong, which is set to go on for the next two weeks, according to sources.

China Oriental Group has increased the tender price on its offer to repurchase all or a portion of its dollar-denominated bonds.

Standard Chartered’s Renminbi Globalisation Index (RGI) fell 2.1% month-on-month in December, bringing 2015 full-year change to minus 0.2%, the first annual decline since the index started in 2012.

Hong Kong blue chip Sun Hung Kai Properties has wrapped up a HK$15bn ($1.93bn) refinancing with 17 banks coming in for a piece of the deal.

Barclays has made Sushir Lohia head of global finance and risk solutions (GFRS) for Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

HSBC has decided to remain headquartered in the UK following an extensive review by its board of directors, ending months of speculation that it could return to Hong Kong.

Chinese pharmaceutical company Hutchison China MediTech (Chi-Med) has picked a quartet of co-managers for a $100m listing on the Nasdaq.

Happy Year of the Monkey from GlobalRMB. In this round-up, the Singapore Exchange and the Moscow Exchange see sustained activity in RMB spot and derivatives contracts in January 2016, KraneShares plans a new RQFII China bond exchange traded fund (ETF), and the UK appoints a vice-president for the Asian Infrastructure Investment Bank.

Currency and tenor have been left open in the RFP for Russia’s first sovereign bond since 2013. Recommendations to print in dollars are expected to dominate and some have said that a renminbi tranche is a possibility. But the RFP has aroused suspicion that it could be a ruse to raise funding for sanctioned entities.

The Hong Kong Stock Exchange has published a guide to help potential issuers produce clear listing documents, as it fears investors are drowning in a sea of jargon.