Haitong Securities

Jiangxi Bank Co has raised HK$7.48bn ($953m) from its Hong Kong IPO, pricing the shares towards the top of guidance thanks to a big group of flexible investors.

Chinese education firm Puxin popped on its first day of trading on the New York Stock Exchange last Friday, and has stayed strong since, after pricing its IPO at the bottom of the marketing range.

Jiangxi Bank Co has kicked off a week-long roadshow for its up to HK$7.8bn ($992.9m) Hong Kong IPO, set to be the second largest listing in the city so far this year.

Future Land Holdings Co raised $200m from a slightly unusual 3.75 year bond on Tuesday, but found investors distracted by the landmark Trump-Kim summit in Singapore.

Puxin and VCredit Holdings, both of which launched IPOs earlier this week, were covered on their first day of bookbuilding.

China-based VCredit Holdings, which provides online consumer finance, launched bookbuilding for its IPO on Tuesday, with proceeds of up to HK$1.58bn ($201m) in reach.

Chinese education firm Puxin's $166m New York Stock Exchange IPO was covered by demand from Asian investors alone on the first day of bookbuilding.

A topsy-turvy market backdrop is pushing a slew of Chinese borrowers, mainly property companies, to raise funds by tapping their existing dollar bonds. Buy side interest remains, but only for the right names, writes Addison Gong.

Property developers Times China Holdings, Central China Real Estate and China South City Holdings raised funds from the dollar bond market on Monday, with all three finding sufficient buy-side interest.

China Energy Reserve & Chemicals Group Co (CERCG) said on Sunday evening that it has officially defaulted on its dollar bonds, marking the third offshore default from Greater China in recent weeks. Markets participants are not stressing about it though, but are instead optimistic about a strong week for primary and secondary markets.

China Overseas Grand Oceans Group (Cogo) raised a larger than expected $500m from a three year bond on Thursday, a week after pulling a 2023 transaction. Future Land Holdings Co also managed to woo investors to a $200m tap.

Chinese tutoring service provider Puxin Education & Technology Group has filed draft documents for an IPO of American Depository Shares (ADS), targeting $300m, according to a banker on the deal.