Hong Kong SAR

Yixin Group raised its full target of HK$6.8bn ($867.2m) in a Hong Kong IPO that was overwhelmed by orders, allowing the issuer to price at the best end of terms.

The European Investment Bank (EIB) tapped South African rand twice this week, amid rising yields in the currency. Elsewhere, the International Finance Corporation (IFC) and World Bank both sold three lots of offshore renminbi, and Nordic Investment Bank (NIB) returned to Hong Kong dollars.

Chinese regulators are considering allowing mainland-based holders of Hong Kong-listed stocks to freely convert shares into H-shares, in a move that could open up swathes of liquidity in the city. Details are limited at this stage, but the decision would be a game changer for issuers and investors in Hong Kong’s equity market, market observers said this week.

An overnight sell-down in Kingboard Chemical Holdings netted a larger than expected HK$1bn ($133m) for its controlling shareholder on Wednesday, as talk of the stock’s inclusion in a major index spurred investor demand.

Asia's banking landscape is more competitive than ever, with firms fighting for the smallest of scraps from clients. Companies too are taking full advantage, unashamedly making bankers jump through hoops to do their bidding.

Suntec Real Estate Investment Trust printed a S$300m ($220m) convertible bond off the back of solid aftermarket trading in recent new issues, although some bankers think the window could be closing soon.

Wing Lung Bank, part of China Merchants Bank Group, has mandated six firms to work on a Basel III tier two dollar transaction, and will go on a roadshow in Hong Kong and Singapore.

China Literature made jaws drop this week when its shares doubled on their debut in Hong Kong, giving it the best first day close in the world this year.

China Power International Development has tapped Bank of America Merrill Lynch to underwrite a cash call that could raise up to HK$4.5bn ($573m) for an acquisition.

Kingboard Chemical Holdings’ controlling shareholder is paring its stake in the firm through an accelerated sale of shares on Wednesday evening that could raise HK$920m ($118m).

China Overseas Grand Oceans Group (Cogo) is taking the rights issue route to pay off debt, proposing to raise HK$4.7bn ($595.9m) from shareholders.

Qingdao Haier Co has raised HK$8bn ($1.03bn) through an exchangeable bond, leveraging on its brand recognition to tighten pricing, according to a source close to the deal.