Guotai Junan Securities Co

Peijia Medical bagged HK$2.34bn ($302m) from its IPO after winning huge support from institutional and retail investors, according to a source close to the deal.

Peijia Medical is set to close bookbuilding for its HK$2.34bn ($302m) listing early after institutional investor orders flooded the deal.

Mainland-based Peijia Medical is set to be the third healthcare company to list in Hong Kong since the coronavirus outbreak in late January, opening books on Tuesday for a HK$2.34bn ($302m) IPO.

The Asian dollar bond market is set for a quiet week for issuance because of public holidays across a number of countries and as investors continue to battle volatility induced by Covid-19 and renewed US-China trade tensions.

Chinese property developer Times China Holdings used support from reverse enquiry to seal a quick $200m bond on Monday morning that has raised questions about the unusual execution style.

Beijing Hyundai and Volkswagen took advantage of the flush liquidity in China’s ABS market to print tight deals on Thursday, adding to the flurry of onshore auto loan ABS issuance this week.

China Cinda (HK) Holdings Co priced a $2bn four-tranche transaction on Wednesday, paying a premium to reach its size target as the fast-spreading novel coronavirus, or Covid-19, continued to rattle global markets.

Investors already reeling from the growing impact of Covid-19 on markets had another thing to contend with on Monday — a collapse in the price of crude oil. Asian bonds and stock markets tanked in the aftermath, with debt bankers saying there was no reprieve in sight.

Chinese property developer Jingrui Holdings made its first dollar outing of 2020 on Wednesday, raising $180m from the bond.

Sinic Holdings (Group) Co and JY Grandmark Holdings made their debuts in the dollar bond market on Wednesday. Both issuers opted to use a 364-day tenor to get the deals done.

Independent television producer China Bright Culture Group has launched bookbuilding for its IPO, aiming to raise up to HK$1.35bn ($172.9m).

Three Chinese real estate developers braved a volatile market on Thursday, raising $800m as fears around the coronavirus continued to ravage secondary prices.