Hong Kong SAR

Two top executives of China Medical System Holdings raised HK$1.2bn ($156.4m) from an overnight bookbuild on Thursday, opting for size over price.

The Climate Bonds Initiative (CBI) said it is working with Hong Kong’s stock exchange to launch Green Bond Connect, an initiative to help Bond Connect investors identify Chinese bonds that meet international green standards. But market participants are divided on whether such an initiative is necessary. Noah Sin reports.

Asian equity capital markets jolted back into life this week, with a handful of overnight blocks signalling the end of the summer lull during the constant furore on the Korean peninsula. Despite the uncertainty, bankers predict equity markets will absorb the noise and battle through. Jonathan Breen reports.

Hutchison Port Holdings Trust (HPHT) sailed away with $500m on the back of a $3bn order book on Wednesday, proving yet again its strong credentials and reputation in the debt market.

Lai Sun Development Company beat competition on Wednesday to nab $400m from a bond, managing to price inside the levels achieved by other unrated Hong Kong names recently.

Red chip property developer Joy City has hit the Panda bond market for the first time, raising Rmb1bn ($153.1m) from a three year bond on September 5. Although the deal was small in size, it caught the attention of some Bond Connect investors thanks to the issuer’s reputation.

Action in Asia ex-Japan’s offshore bond market picked up on Wednesday, with property developers from Greater China announcing new transactions.

CK Hutchison Holdings’ subsidiary Hutchison Port Holdings Trust hit the dollar market on Wednesday morning, looking for its first international bond since its debut more than two years ago.

China’s A-share market has one of the largest pools of domestic investors in the world. So it’s no surprise Hong Kong’s exchange is desperate to link its primary IPO market with the mainland. While there could be plenty of benefits, the city’s regulator should think long and hard before opening itself up to a potentially uncontrollable flood of money.

Chinese automobile parts manufacturer Ruifeng Power Group Co filed an IPO application with the Hong Kong Stock Exchange on Monday.

Citi has named Sebastien Mailleux as head of prime finance for Asia Pacific, replacing Angus Yang, who has left the firm.

China Minsheng Banking Corp has jumped into the debt market, opening a dual-tranche floating rate offering for dollar investors through its Hong Kong branch on Tuesday.