Hong Kong SAR

Hong Kong IPO issuance has seen healthy volumes so far this year. At $68.3bn, according to Dealogic, new listings on HKEx have already reached the level achieved for the entire year in 2014. The outcome of deals, however, remains heavily dependent on cornerstone investors, while oversized syndicates have sadly been back in full force since at least late spring, writes Philippe Espinasse.

China International Capital Corp, which brought in 11 joint global co-ordinators for its Hong Kong IPO, has priced the deal at the top of the range to raise HK$6.29bn ($812m).

Daniel Ng, one of China Merchants Securities’ (CMS) most senior bankers and a veteran of the Hong Kong and China capital markets, is understood to have left the firm recently.

Alister Moss, who left the banking industry three years ago, is set to make a comeback by joining Nomura's DCM syndicate team.

Dali Foods Group Co is expected to open books in the week of November 2 for its $1.5bn IPO in Hong Kong, after investors gave the thumbs up to the Chinese snack food maker during pre-marketing.

Beijing-based boutique investment bank, China Renaissance, has launched a new division to advise companies looking to raise funds in China’s onshore capital markets, expanding the firm’s services to include both its home and overseas markets.

In a rare move, China International Capital Corp (CICC) has named all 11 banks working on its HK$6.29bn ($811.61m) high-profile Hong Kong IPO as joint global co-ordinators. But instead of sparking a turf war among its syndicate, the move has won praise from bankers on the trade. John Loh reports.

Standard Chartered is to close its equity derivatives and convertible bonds businesses in yet another move to bolster its performance by withdrawing from non-core operations. But its timing has surprised some market watchers, who expect a turnaround in equity-linked activity. John Loh reports.

China Huarong Asset Management pulled off a HK$17.83bn ($2.30bn) IPO on October 22, pricing one of Hong Kong’s largest listings this year just a few cents off the bottom of the initial range. But the price tag ignited debate about whether the issuer was pushing its luck.

Xinyi Solar raised a smaller-than-expected HK$543.5m ($70.1m) from a top-up placement on October 26, shrinking the deal by about 45%. Despite the transaction being slashed, sources were adamant the company found a good window to raise equity.

You would have thought that a managing partner who oversees capital markets for one of the world's top law firms would be able to hold his nerve in most situations. But a friend of mine has been forced to accept that there are some things he’s simply not cut out for.

United Overseas Bank (UOB) recently hired Ben Chan Ho Fai as the head of RMB solutions, a new unit that the bank set up earlier year.