Hong Kong SAR

The company behind Chinese social media platform kktv5.com, Hangzhou Mi Lu Technology Co, is vying for a Hong Kong listing as soon as this year, according to a banker that pitched for the IPO.

Issuers from Greater China are set to storm the debt market soon with China Reinsurance Finance Corp, China Cinda Asset Management Co, Grand China Air Co and Pacific Century Premium Developments eyeing dollar offerings. Separately, New China Life Insurance Company has got the green light from its board to raise funds offshore.

Swift’s decision not to publish its monthly RMB tracker with any additional commentary about the long term prospects of the renminbi is refreshing. Other renminbi loyalists should follow suit, and stop trying to gloss over disappointing data.

China’s Minsheng Education Group has launched pre-deal investor education for its Hong Kong IPO that could raise up to $200m, according to bankers close to the deal.

China Development Bank Corp is making a swift return to the debt market with a floating rate transaction split between three and five year dollar portions and a 2020 tranche denominated in Hong Kong dollars.

The Asian block market came to life this month as shareholders jumped at the chance to offload some of their holdings in companies, taking advantage of a rally in the stock market. With a tight window remaining before firms head into blackout period ahead of results season, ECM bankers and investors are set for more deals this quarter. Jonathan Breen and John Loh report.

HSBC has made some high profile appointments to its commercial banking teams in Hong Kong and Mainland China, according to an announcement on Thursday.

China Reading, the e-book publisher backed by Tencent Holdings, has picked Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley to lead its Hong Kong IPO, according to a source close to the matter.

Hong Kong dove into the Islamic finance market this week, setting a new benchmark by becoming the first triple-A rated government to sell a 10 year sukuk. Bankers say that the hope is for corporates to follow suit, but there is a slew of challenges for the market to take off, writes Morgan Davis.

The Hong Kong government stretched its Islamic finance benchmark and ambitions on Tuesday, securing a $1bn 10 year deal with the first dollar sovereign sukuk of the year.

China YuHua Education Corp has scooped up HK$1.5bn ($198.1m) after seeing a global turnout of investors for its IPO, according to a banker close to the deal.

Kingboard Laminates Holdings is looking to refinance two loans with a single HK$6bn ($773m) facility, and is narrowing the all-in pricing by about 80bp.