Hong Kong SAR

Hong Kong-listed Semiconductor Manufacturing International Corp raised $969m on Tuesday from an unusual multi-tranche offering of equity and convertible perpetual bonds.

Demand from international investors to participate in Bond Connect is strong – with Ireland and Luxembourg-registered funds set to be the next group to join in once real-time delivery versus payment is introduced later this year, two bankers told the IFLR Asia Capital Markets Forum on Tuesday.

The Chinese regulators are planning to expand Bond Connect to cover exchange traded bonds, and are mulling changes to older access channels such as the qualified foreign institutional investor (QFII) scheme, according to market participants.

TCL Multimedia Technology Holdings, a Chinese consumer electronics company, is looking to add around HK$2bn ($256m) to its coffers by way of a rights issue, bringing on board BNP Paribas to fully underwrite the transaction.

China Education Group has started sounding out investors for a Hong Kong IPO of around $400m, laying the groundwork for bookbuilding to begin next week.

Nissin Foods Co kicked off bookbuilding for its HK$1.1bn ($144.8m) Hong Kong IPO on Monday, with several Japanese trading giants and a Singaporean beverage company joining as cornerstone investors.

Bank of Communications Co’s Hong Kong branch is in the market with a two-part floating rate transaction, going head to head with peer China Construction Bank, which is also taking bids for a new bond.

Shandong International Trust has brought in five Chinese cornerstone investors to take up just under half of its HK$3.5bn ($449.8m) IPO in Hong Kong.

Shenzhen-Hong Kong Stock Connect northbound trading hits new high, BlackRock strategist says Belt and Road will bring about new opportunities in Asia for long term investors, and United Overseas Bank (UOB) opens a new branch in Kunming, Yunnan province.

China Construction Bank Corp launched a triple-tranche dollar deal on Monday through its Hong Kong branch.

China Education Group sought approval from the Hong Kong Stock Exchange on Friday for an IPO that is expected to raise around $400m, according to a source close to the deal.

Kingboard Chemical Holdings took out HK$5.5bn ($704.4m) from the syndicated loan market this week, after bringing in nine banks as bookrunners on top of the two original lead banks.