Hong Kong SAR

Bank of Zhengzhou has launched bookbuilding for its HK$5.56bn ($717.4m) Hong Kong IPO, with over half the book already covered by six cornerstone investors.

Standard Chartered Hong Kong sold its first Panda bond this week in a deal that was nearly twice subscribed and saw a good level of investor diversification. But while some have argued the trade should have priced tighter, Tee Choon Hong, head of Capital Markets, Greater China at the bank says the bond offer good value and the bank is looking for opportunities to re-enter.

CRCC High-Tech Equipment Corp, a unit of Chinese state-owned China Railway Construction Corp, has raised HK$2.8bn ($361m) from its IPO in Hong Kong after pricing near the bottom of the range.

China Overseas Finance Investment (Cayman) V has opened books on a $1.2bn equity-linked offering of bonds exchangeable into shares of China Overseas Land & Investments.

The RMB seems set to weaken further despite the IMF's decision to give the currency reserve status on November 30. However, experts agreed a weaker RMB will not stop it from gaining ground as a global currency.

Chinese brokerage house Everbright Securities is eyeing a listing in Hong Kong, having filed a preliminary prospectus on Tuesday with the city’s bourse.

In a showpiece for China’s reform of its state-owned firms, Postal Savings Bank has raised Rmb45.1bn ($7bn) from pre-IPO investments, bringing in a marquee list of 10 strategic investors.

Bank of Zhengzhou has signed on about six cornerstone investors to anchor the bulk of its HK$5.56bn ($717.42m) IPO in Hong Kong, as the leads look to kick off bookbuilding on a strong note.

Huishang Bank Corp has come a step closer to launching its H-share private placement in Hong Kong, after the China Securities Regulatory Commission (CSRC) approved the sale on Monday.

American International Group raised HK$5.83bn ($752.26m) from an overnight share sale in PICC Property and Casualty Co on Monday, as it seized what bankers say may be the last window for such a large block before the end of the year.

The Bank of East Asia (BEA) has entered into an agreement with Shenzhen Qianhai Financial Holdings to set up a fully licensed securities joint venture in the Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone.

Bank of China’s shareholders have given the go ahead for plans to list subsidiary BoC Aviation on the Hong Kong Stock Exchange.