Hong Kong SAR

The offshore renminbi market is set for another year of pain with new issuance predicted to fall by as much as 30% in 2017, according to HSBC’s February dim sum tracker report.

Mason Financial Holdings has wrapped up a rights offering of more than 20bn new shares, raising HK$2.9bn ($373.9m) from the deal.

UBS has a new head of technology, media and telecom (TMT) for Asia Pacific, hired from SMBC Nikko.

The Hong Kong government is eyeing the week of February 20 to issue a new dollar sukuk, providing further momentum to Islamic financing since making its debut in the market more than two years ago.

E-book publisher China Reading and fintech firm Guangdong Wangjin Holdings Technology Co are looking to list in Hong Kong this year, according to sources familiar with their plans.

Shanghai Pudong Development Bank (SPDB) worked its magic as the first greater China issuer in the international market after Chinese New Year, pulling in eager investors to grab a tightly priced $500m deal.

Bank of China started taking bids for a triple-tranche dollar offering on Tuesday, while China Construction Bank is looking to return to the euro bond market after a two year hiatus.

Onshore Chinese investors can now buy into Hong Kong IPOs directly if they are acting as cornerstones investors, following a change in regulation by the State Administration of Foreign Exchange (Safe).

The filing of form S-1, the draft registration statement for the proposed $3bn New York IPO of Snap, the $25bn parent company of messaging app Snapchat, was full of surprises — not all of them good for investors. If anything, it also showed that Hong Kong will, most likely, never be able to compete with the US exchanges when it comes to listing unicorns, writes our columnist Clawback.

The post Chinese New Year holiday week has kicked off with Shanghai Pudong Development Bank (SPDB) hitting the market with a three year dollar offering on Monday morning local time.

Samsonite International has refinanced credit facilities totalling $2.4bn that were originally raised to fund its acquisition of premium luggage maker Tumi last year.

Activity is trickling back into Asia ECM as bankers return to their desks post Chinese New Year, with several Hong Kong IPOs looking to start pre-marketing and a Thai name testing investor appetite.