Hong Kong SAR

CDH is in the market to cash out of its stake in Luye Pharma Group via a block trade worth up to HK$729m ($94m).

Chinese names are continuing their resurgence with State Grid Corp of China returning for a dollar/euro combo while China International Capital Corp (Hong Kong) has opened books for its debut offshore appearance.

China Nuclear Engineering Group Corp (CNEC) is set to issue its debut dim sum this month, after failing to pull off a deal last year amid poor sentiment around offshore renminbi (CNH) bonds, GobalCapital Asia's sister publication GlobalRMB learnt this week.

As the $100bn-plus IPO of Saudi Aramco nears its launch, the UK’s Telegraph has most recently hinted at a three-way foreign listing, conducted across London, New York and Hong Kong. Columnist Philippe Espinasse looks at the practicalities and advantages (as well as disadvantages) for the oil behemoth of listing in Asia.

Bank of China International has hired Daniel Ng as head of the investment banking division, according to sources.

BOC Aviation will launch bookbuilding for its $2bn Hong Kong IPO next Monday and is in the process of finalising the involvement of cornerstone investors, according to sources with knowledge of the situation.

BNP Paribas could let go of up to 40 people in its Asia cash equities unit, affecting about 20% of the division's workforce in the region, as it seeks a buffer against the continued soft patch in the market.

JP Morgan has found itself in the spotlight for becoming the first global bank to have its IPO application returned by the Hong Kong Stock Exchange since the regulator tightened the screws on listings two years ago.

Hong Kong financial investment firm Sun Hung Kai is in the market soliciting interest for an exchange offer that will see holders of its 2017 bonds switch to new notes maturing in 2021.

Standard Chartered's regional head of loan syndications for Greater China and northeast Asia has resigned to move to a rival, according to a source.

UBS has appointed Damien Brosnan and Peihao Huang to the newly created positions of co-heads of ECM Solutions, Asia, effective immediately, according to an internal memo seen by GlobalCapital Asia.

In this round-up, Hong Kong RMB deposits shrank further in March, southbound usage of the Shanghai-Hong Kong Stock Connect picked up, China's foreign exchange regulator granted four new RMB qualified foreign institutional investor (RQFII) quotas in April, and Singapore Exchange launched trading of derivatives under the new MSCI China Free Index. Plus, a recap of GlobalRMB's top stories this week.