Hong Kong SAR

FIT Hon Teng opened books this week for its potential HK$3.0bn ($384.3m) IPO and found investors scrambling to get in.

Hong Kong conglomerate Swire Pacific closed a $300m seven year bond on Tuesday, opting for a tight price over size with the debt-raising.

FIT Hon Teng, a subsidiary of Taiwanese electronics manufacturer Hon Hai, has opened books for its all primary IPO on the Hong Kong Stock Exchange, with a price range that could value the company at up to $2.6bn.

Asian issuers flooded into the debt market on Tuesday, as seven credits battled for attention amid a somewhat positive tone in the market. Greenland Hong Kong Holdings grabbed $200m, while China Gold International Resources Corp nailed a $500m three year and Shimao Property Holdings sealed a tap.

Aluminium giant Rusal hit the limelight in March when it became the first Russian corporate to issue a Panda bond. But Oleg Mukhamedshin, deputy chief executive, told GlobalRMB that high onshore yields are delaying the company’s return to the Panda market.

Inner Mongolia Energy Engineering Co is putting a Hong Kong IPO of up to $300m on the table for investors as it starts drumming up interest for the deal, according to a source familiar with the matter.

A busy Tuesday for dollar supply in Asia DCM is continuing unabated with a handful of launches and mandates, including one in euros, announced on Wednesday.

Hong Kong regulators on Tuesday decided that delta one warrants will not be classified as over-the-counter derivatives products, mirroring the actions of European Union authorities.

Bank of China Group Investment debuted in the Panda bond market on June 23, raising Rmb1.5bn ($219.6m) from a three year note. Its deal marked the second Panda issuance by a financial institution this year, following China Citic Bank International’s deal in May.

Greenland Hong Kong Holdings returned to the market on Tuesday for the second time in as many weeks, as Shandong Ruyi Technology Group Co and Hong Kong conglomerate Swire Pacific also launched dollar deals.

Instinet, the equity execution services arm of Nomura, has named Stuart Knowling as the new CEO for Asia Pacific.

The sub-underwriting phase of a HK$28bn ($3.6bn) financing to support the take private of Hong Kong-listed footwear company Belle International Holdings has wrapped up, with nine lenders joining original mandated lead arranger and bookrunner (MLAB) Bank of America Merrill Lynch (BAML).