Hong Kong SAR

China-based Mobvista has launched bookbuilding for a potential HK$1.63bn ($208m) IPO in Hong Kong, following the listing success of some of its peers.

WuXi AppTec’s Hong Kong IPO is set to be yet another test case of investor appetite for biotechnology names, as the company kicked off its chunky HK$7.5bn ($958m) flotation this week. With all eyes on the offering, its performance in both primary and secondary can have ramifications for other listing hopefuls in the city, writes Christie Ou.

Shanghai-listed WuXi AppTec has started bookbuilding for its HK$7.5bn ($958.28m) Hong Kong IPO, which has already received good response from international long-only investors, according to a banker close to the deal.

China-based Mobvista plans to launch its Hong Kong IPO on Thursday, halving the target size to $200m-equivalent, according to a source close to the situation.

In this year’s last Clawback, columnist Philippe Espinasse has his say on corporate governance standards in Hong Kong-listed companies.

Shanghai Junshi Biosciences has kicked off pre-deal investor education for its Hong Kong listing.

The Asian equity-linked market had a rare treat last week when Country Garden Holdings sold a convertible bond using a call spread feature. Its success has ignited hopes of more such deals, but ECM bankers and issuers should be wary of mixing dreams with reality.

Nomura has brought on board Alexandra Tong from Citi to lead Greater China ECM origination and execution, according to an internal memo seen by GlobalCapital Asia on Tuesday.

Chinese property management service provider Binjiang Service Group has tapped CLSA as the sponsor for its planned Hong Kong float.

Australian coal producer Yancoal has begun bookbuilding for its HK$1.54bn ($196.88m) dual listing on the Hong Kong stock exchange, offering its stock at a considerable premium to its domestically traded shares.

iDreamSky Technology Holdings’ HK$990m ($126.5m) IPO has received a quick thumbs-up from investors, with the deal covered and oversubscribed on the first day of bookbuilding.

Hong Kong-listed ENN Energy Holdings is seeking a $300m term loan to refinance some of its outstanding debt.