Hong Kong SAR

Ronshine China Holdings has raised HK$1.2bn ($155.6m) after a selling a chunk of shares through a top-up placement, according to a filing with the Hong Kong Stock Exchange on Monday morning.

Razer started taking orders on Monday for a Hong Kong IPO that could be worth as much as HK$4.3bn ($545.0m). About a third of the book has already been covered by cornerstone investors, even though some bankers think the valuation looks stretched.

Two A-share smart beta exchange traded funds (ETFs) list in Hong Kong, the central bank of Cambodia wants the country’s businesses to use renminbi to trade, and Industrial and Commercial Bank of China (ICBC) agrees to co-operate with New Development Bank (NDB) on financing the Belt and Road Initiative (BRI).

Allotments are out for a HK$7.137bn ($914.7m) loan that to support private equity firm I Squared Capital’s acquisition of Hutchison Global Communications (HGC).

Crystal International Group raised HK$3.8bn ($489.5m) with its Hong Kong IPO after pricing the shares near the wide end of terms on Thursday.

Hutchison China MediTech pocketed $300m this week after executing a follow-on offering of its Nasdaq-listed American Depository Shares, increasing the deal size as it went.

Deutsche Bank has hired a senior executive from a rival to lead its technology, media, and telecom investment banking efforts in Asia Pacific.

China Literature’s IPO in Hong Kong, set to raise up to HK$8.3bn ($1.1bn), has been hotly received by investors. Books were well oversubscribed with no price sensitivity at the range given, said a banker at one of the leads.

Westpac has hired an ex-BBVA banker to helm its Greater China operation as the Australian lender looks to further its reach in the region.

Hutchison China MediTech hit the market on Wednesday with a view to raising around $262m from a follow-on sale of American depository shares (ADS), according to a term sheet seen by GlobalCapital Asia.

China’s Ministry of Finance (MoF) has criticised international credit rating agencies for their rating downgrades in a statement on October 24, in which it also explained its rationale for issuing the country’s first dollar bond since 2004.

Recent deals are breathing life into a dim sum bond market that has faced a drought in supply. And with market conditions turning in the sell side’s favour, more issuers should syphon off this renminbi funding stream.