Hong Kong SAR

China Jinmao Holdings Group raised HK$3.3bn ($425.8m) from a fixed price offering of new shares through a top-up placement last Friday.

The deputy governor of China’s central bank believes the country is punching below its weight on renminbi internationalisation, the Chinese banking watchdog stresses the need to prevent risk, and China Citic Bank International projects strong demand for cross-border RMB transactions in the first quarter.

Bank of Gansu Co has raised HK$5.9bn ($756.4m) after pricing its IPO at the midpoint of guidance, according to a banker on the deal.

The Chinese government contemplates RMB-denominated IPOs for mainland companies fundraising for Belt and Road projects, foreign ownership of Chinese bonds goes up in December, and premier Li Keqiang indicates the economy grew by 6.9% in 2017.

Equity investors had their fill of block trades in Hong Kong on Thursday, with three completed successfully — and two even managing to raise more than intended.

China Maple Leaf Educational Systems has added HK$1bn ($127.9m) to its coffers after selling a chunk of shares through a top-up placement, capitalising on a recent jump in its stock price.

Jack Ma, one of the founders of technology giant Alibaba Group Holding, said this week he will seriously consider listing the company in Hong Kong, which has finally approved dual-class share IPOs. It is a sign of what lies ahead for the city’s stock exchange, writes Jonathan Breen.

The equity block trade market is heating up in Hong Kong as shares continue to rally, with banks launching one sole mandate after another.

New Sports Group will double its share capital with two placements that aim to raise a combined HK$1bn ($128m), said the company.

China ZhengTong Auto Services Holdings opened books on Thursday morning for an up to HK$1.6bn ($211m) capital increase.

Dollar investors had plenty of Chinese property bonds to choose from this week, with four issuers competing for their attention on Tuesday. But with no end in sight to the pipeline, companies will have to navigate the market carefully, or cough up a premium for their bonds.

Goldman Sachs has added two senior executives to its investment banking division in Hong Kong who will focus on equity and equity-linked products.