Hong Kong SAR

Japan’s Nippon Steel & Sumitomo Metal Corp has raised W177bn ($154.6m) from the sale of some of its shares in Posco — the third sell-down of its stake in the South Korean steelmaker this year.

Two FIG names were among the seven issuers vying for funds on Thursday with Bank of East Asia and Sirius International both pricing new trades. And the hectic schedule of the last few weeks is unlikely to slow down in November.

UBS is being investigated by the Hong Kong Securities and Futures Commission for its role in IPOs, with the bank warning that it faces a possible suspension of its corporate finance licence.

Zhou Hei Ya International Holdings Co is looking to raise HK$3.31bn ($427m) via a Hong Kong IPO, launching the trade on Thursday.

Hong Kong-listed Li & Fung attracted $4.4bn in orders for its subordinated fixed-for-life perpetual on Thursday. The $650m deal’s success came despite Asia-ex Japan primary markets being extremely competitive with six other live deals.

HSBC has tapped a senior investment banker from Credit Suisse to lead a division of its private bank, naming Johnny Liu as managing director and regional head of global solutions group (GSG), Asia Pacific.

A HK$4.851bn ($625m) leveraged buyout financing to back the acquisition of Wharf T&T by MBK Partners and TPG Capital has entered limited syndication.

Chinese fashion house JNBY sealed a HK$800.0m ($103.1m) IPO this week after pricing off the bottom of guidance, according to a source close to the deal.

The Hong Kong Monetary Authority (HKMA) expanded the group of key offshore RMB (CNH) liquidity providers and revised arrangements for its CNH facility on October 27. The move comes at a time of greater downward pressure on the RMB, increasing the possibility of more interventions by China’s central bank.

Fixed income investors have plenty supply to choose from out of Asia with seven issuers venturing out on Thursday. Corporates joining the fray included property companies Shokai Group and Golden Wheel as well as Guangxi LGFV and Hong Kong’s Li & Fung.

Seven deals launched Thursday as issuers came out in force to raise money ahead what is expected to be greater market uncertainty in November.

Guangdong Kanghua Healthcare Co has gone live with its Hong Kong IPO and begun taking orders for a HK$1.2bn ($154.7m) listing.