Hong Kong SAR

A senior member of Citi’s Asia Pacific securitized products unit has left the bank, sources close to the move have told GlobalCapital Asia.

Chinese electronics distributor Smart-Core Cloud Group has filed a draft prospectus with the Hong Kong Stock Exchange, hiring DBS Bank as the sole sponsor of its IPO.

The head of Natixis’ Asia Pacific debt platform Devan Selvanathan is leaving after more than four years at the bank, according to sources close to the move.

Nomura has cut up to 30 jobs in its Asia ex-Japan equities unit amid a wider shake up in its overseas operations, with personnel leaving across cash equity, research and equity syndicate.

In this round-up, trade settlement picked up in March, Asian exchanges saw declining USDCNY futures volumes, Nigeria will include the RMB in its FX reserves, a survey found the RMB is likely to replace the Hong Kong dollar as most popular currency in HK, and a new cross-border scheme was established between Singapore and China. Plus, a recap of GlobalRMB's top stories this week.

AK Medical Holdings has filed a preliminary prospectus for its planned Hong Kong IPO, with Goldman Sachs as sole sponsor.

A spate of dim sum MTN issuance that began with Australian banks has spread to include Canadian, Middle Eastern and European institutions.

It was that time of the year again last weekend when rugby (and drinking) fans from around the world descend on Hong Kong for the Sevens, clogging up the island with fancy dress and drunken mischief.

Citi has created a new position of head of corporate banking for Asia Pacific, naming Gerry Keefe in the role.

China’s Orient Securities Co is set to test market appetite for brokerages as it tees up a Hong Kong IPO of as much as $1.5bn. Its filing with the exchange comes at a time when the market environment for the sector looks good amid a broader improvement in sentiment, write Jonathan Breen and John Loh.

Bank of China Aviation is poised to meet investors ahead of its 144A return that could hit the market as early as next week, while HK Electric has mandated banks for Reg S notes.

Hungary opened books for a three year offshore renminbi bond on Thursday with initial price guidance set at 6.50%. The deal is not only the debut RMB offering from the Hungarian government, but also the first public dim sum bond since November 2015.