Hong Kong SAR

Alphamab Oncology, a Chinese biopharmaceutical firm, has launched a roadshow for an up to HK$1.83bn ($233.8m) listing, according to a source close to the deal.

Pharmaceutical research and development platform Pharmaron Beijing Co has bagged HK$4.6bn ($588m) after sealing its Hong Kong public offering at the top of the price guidance.

Hong Kong hosted Alibaba Group Holding’s jumbo IPO in tough political times this month, yet the deal received overwhelming support in primary and the shares soaring in the aftermarket. While this success gave the city’s stock market a much-needed boost, other issuers would be mistaken in thinking that such liquidity is also available to them.

HSBC’s anticipated cuts to its global banking and markets (GBM) division may make sense. But they will not be easy to pull off smoothly.

MSCI will complete its third and largest step of including China A-shares in its MSCI Emerging Markets Indexes and the MSCI China Index after the market closes on Tuesday. In preparation, foreign investors bought Rmb21.4bn ($3bn) of A-shares by 3pm through the two Stock Connect schemes — surpassing the record high of Rmb17.4bn achieved last year.

Haitong International Securities is in talks with its relationship banks to raise a HK$10bn ($1.2bn) three-year loan to refinance an old club deal signed in 2017.

Biotechnology company Venus Medtech (Hangzhou) has kicked off bookbuilding for its Hong Kong listing, eyeing a HK$13bn ($1.66bn) valuation.

Ant Financial, an affiliate of Chinese e-commerce giant Alibaba Group Holding, has launched a $3.5bn three year loan into syndication, after closing an amendment and extension of an old borrowing.

Citi has hired two senior real estate focused bankers from HSBC, adding them to its investment banking team in Hong Kong.

In this round-up, China lifted its 2018 GDP by 2.1% after the fourth census, the Chinese Ministry of Finance (MoF) will add a tap to its sovereign bonds sold in June and Hong Kong wrapped up its district council elections on Sunday.

Chinese property developer JY Grandmark Holdings has launched a roadshow for an up to HK$1.45bn ($185.5m) Hong Kong listing. A source close to the situation said the IPOs timing is right, despite the turmoil in the special administrative region.

In this round-up, the China Europe International Exchange (Ceinex) is working on establishing a Stock Connect scheme between China and Germany, the National People’s Congress criticises the Hong Kong High Court’s decision around the anti-mask law and the People’s Bank of China lowers its benchmark interest rates.