Hong Kong SAR

Goldman Sachs has promoted Ken Hitchner to chairman and chief executive officer of Asia Pacific ex-Japan, amid a rejig of its senior ranks in the region.

Digital China Holdings has bagged HK$1.45bn ($185.5m) from a rights issue that was hugely popular, with books more than 1,600% subscribed.

Huarong International Financial Holdings is in the market with a HK$3bn ($383m) two-tranche offshore financing led by a pair of Taiwanese lenders.

Commerzbank is organising a non-deal roadshow in Taipei for Goshawk Aviation, the commercial aircraft lessor owned by a pair of Hong Kong conglomerates.

Hong Kong’s Securities and Futures Commission (SFC) has backed down from the idea of boosting its involvement in listing approval decisions following a wave of opposition, but will maintain its new role of intervening in serious listing matters.

Bank of Gansu Co and A-Living Services Co are looking to float on the Hong Kong Stock Exchange, having filed draft listing documents with the bourse.

ZhongAn Online P&C Insurance Co has opened books for its much-anticipated Hong Kong IPO, which could raise up to HK$11.9bn ($1.5bn).

Société Générale Corporate & Investment Banking has brought in a senior executive from London to head its Asia Pacific acquisition financing unit.

Hong Kong-based Sun Hung Kai Properties has received Chinese regulators’ blessing to issue Rmb10bn ($152.9m) worth of Panda bonds within the next two years, according to the National Association of Financial Market Institutional Investors (Nafmii).

Tsit Wing International, a coffee and black tea supplier, is vying for approval to list in Hong Kong, having filed a draft prospectus with the city’s stock exchange this week.

The State Administration of Foreign Exchange (Safe)’s deputy head says the onshore and offshore renminbi markets should merge, AXA Investment Managers (AXA IM) launches a new strategy to buy short dated onshore RMB bonds, and the ex-boss of the Hong Kong Monetary Authority (HKMA) suggests Hong Kong-listed stocks should trade in renminbi.

The $1.5bn Hong Kong IPO of Chinese insurtech firm ZhongAn Online Property and Casualty Insurance Co is set to be a splashy affair, with the punchy valuations on offer stirring debate among ECM bankers. But the leads are already predicting a successful outcome. John Loh and Jonathan Breen report.