Greater China

The subdued Hong Kong IPO market is finally getting a dose of action with a pair of issuers, IMAX China and Regina Miracle International, aiming to wrap up their debuts ahead of the upcoming Chinese Golden Week holidays.

The stock market has endured its worst summer in years, with the turmoil in China wiping out trillions in market value and causing ripples around the world. But a crucial window will open up for share sales in Asia once China concludes its Golden Week holidays in early October. Issuers should grab the opportunity to light a fire under equity capital markets.

Mizuho has appointed a new head of debt syndicate for Asia Pacific, poaching him from rival Nomura.

Agricultural Bank of China (ABC) is planning a roadshow in September for the world’s first offshore renminbi green bond that will be part of a multi-tranche deal. The trade scheduled to price ahead of president Xi’s visit to London in October and is one of a number of upcoming Chinese bonds aimed at the UK.

Goldman Sachs has promoted Jonathan Penkin to the new roles of head of growth markets ECM and chairman of Asia ex-Japan ECM, according to an internal memo seen by GlobalCapital Asia.

Renewed confidence about CNY inclusion in the IMF's SDR has supported offered side interest in short-end CNY NDIRS today. A preference for the 3-year tenor has flattened the 1s/3s curve slope, writes Deirdre Yeung of Total Derivatives.

Yingda International Leasing, a company owned equally by General Electric and China’s State Grid Corp, has raised the size of its three year offshore borrowing to Rmb600m ($94m) from Rmb500m, partially exercising a greenshoe option.

Hengtao Securities has received listing approval from the Hong Kong Stock Exchange (HKEx) for its $200m IPO, but is yet to fix dates for marketing as issuers and bankers continue to take a watch-and-wait stance on the market.

China’s Ministry of Finance is gearing up to issue three month government bonds every week starting from next month as part of its efforts to get the renminbi into IMF's Special Drawing rights (SDR) basket, according to several sources close to the matter.

Credit Suisse has appointed John Woods as chief investment officer, Asia Pacific, for private banking and wealth management.

Early weakness in Chinese equities triggered dip-buying and a stock market rebound. The improved risk sentiment has backed paying interest in CNY swaps and 1s/3s has flattened on currency-related underperformance in the short-end, writes Deirdre Yeung of Total Derivatives.

Hong Kong-listed LVGEM (China) Real Estate Investment is planning to raise HK$3.5bn ($451m) from a placement of new shares in order to fund part of a HK$13.79bn asset injection from Green View Holding.