Hong Kong SAR

Standard Chartered is set to issue its debut Panda bond on December 7. The Rmb1bn ($157m) three year offering will be the first batch out of the total Rmb2bn Panda bond quota the bank has obtained from the People’s Bank of China (PBoC).

Baosteel Hong Kong Investment Co launched a $500m bond exchangeable into shares of Hong Kong-listed China Construction Bank Corp on Tuesday evening, with HSBC and UBS leading the trade.

Banks are welcoming plans by the Hong Kong Stock Exchange (HKEx) to solve the outstanding settlement issues for the Shanghai-Hong Kong Stock Connect. The introduction of delivery versus payment (DVP) settlement model from next April also provides business opportunity as brokers seek out more liquidity.

Although a strong dollar persists, Aberdeen Asset Management Asia (Aberdeen) says that Asia is in reasonably good shape and China has been a great investment, particularly onshore market.

Bank of Jinzhou Co started taking orders on Monday for its up to HK$7.31bn ($943.25m) IPO in Hong Kong, with just one cornerstone investor taking up 15% of the shares in the Chinese city commercial lender.

East Capital, an asset manager that focuses on emerging and frontier markets, has named socially responsible investments specialist Francois Perrin as a portfolio manager in charge of Greater China.

Hong Kong property giant New World Development made a successful return to the dollar bond market last week, using its rarity value to price a $950m trade inside its curve.

Huaneng Power International has raised HK$5.69bn ($734m) via a private placement of H-shares as the company shores up funds to repay outstanding loans and to supplement its working capital requirements.

Bank of Qingdao Co is looking to raise up to HK$5.2bn ($666m) in a Hong Kong listing, with the trade opening books on November 20. This makes it the first of a handful of Chinese city commercial banks to launch their IPOs in the city.

Hong Kong property company New World Development was out in the dollar bond market on November 20, marking its first offering this year.

New Hope International has wrapped up syndication of a $100m facility that came with a guarantee from its parent, Chinese agribusiness New Hope Group.

Flat Glass Group Co priced its Hong Kong IPO at the bottom of an indicative range on November 19, raising HK$945m ($122m) as investors gave the solar glass maker a lukewarm response.