Hong Kong SAR

Enjoy the small things in life, so the saying goes, and when you have a bit of money, those small, frivolous, things can go a long way.

International law firm Dorsey & Whitney has added four new people to its US-China team in a bid to take advantage of continuous flow of business between the two countries.

Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.

China’s Babytree Group has thrown open books for a potential HK$2.2bn ($280.9m) IPO, paring down the size from its original $800m target, according to a banker close to the deal.

Fosun Tourism Group, which is being spun-off by Chinese conglomerate Fosun International, has launched investor education for its Hong Kong IPO as the market falters amid continued volatility.

Chinese steel e-commerce platform Zhaogang.com has kept its plans for a Hong Kong listing alive, resubmitting an updated prospectus to the bourse on Tuesday.

Two Hong Kong IPO hopefuls have taken different approaches to their transactions. Tencent-backed Tongcheng-Elong Holdings launched its smaller listing of up to HK$1.8bn ($232.4m) on Tuesday, while Babytree has put its planned float on hold.

Chinese agribusiness company New Hope Group has fully exercised a $50m greenshoe option on its loan to raise $150m, attracting three participants during syndication.

CSSC Shipping Co, a subsidiary of China State Shipbuilding Corp, has filed a draft IPO prospectus in Hong Kong through sole sponsor CICC.

Chinese paper manufacturer Youyuan International Holdings is seeking commitments for a $120m refinancing loan, wooing banks with a juicier margin when compared to its last fundraise.

The Hong Kong real estate developer is coming to the Chinese onshore market for the first time. The deal is as much about the issuer getting familiar with the onshore bond market as it is about fundraising, GlobalRMB understands.

The Hong Kong arm of China’s Founder Securities priced a small two year bond on Friday, in a deal that saw the syndicate group rejigged significantly since the mandate announcement in mid-October.