Hong Kong SAR

The Asia Securities Industry & Financial Markets Association (Asifma) has expressed its concerns over the widespread use of powers of attorney (POA) in Hong Kong IPOs.

The subdued Hong Kong IPO market is finally getting a dose of action with a pair of issuers, IMAX China and Regina Miracle International, aiming to wrap up their debuts ahead of the upcoming Chinese Golden Week holidays.

The stock market has endured its worst summer in years, with the turmoil in China wiping out trillions in market value and causing ripples around the world. But a crucial window will open up for share sales in Asia once China concludes its Golden Week holidays in early October. Issuers should grab the opportunity to light a fire under equity capital markets.

Mizuho has appointed a new head of debt syndicate for Asia Pacific, poaching him from rival Nomura.

Goldman Sachs has promoted Jonathan Penkin to the new roles of head of growth markets ECM and chairman of Asia ex-Japan ECM, according to an internal memo seen by GlobalCapital Asia.

Hengtao Securities has received listing approval from the Hong Kong Stock Exchange (HKEx) for its $200m IPO, but is yet to fix dates for marketing as issuers and bankers continue to take a watch-and-wait stance on the market.

Credit Suisse has appointed John Woods as chief investment officer, Asia Pacific, for private banking and wealth management.

Hong Kong-listed LVGEM (China) Real Estate Investment is planning to raise HK$3.5bn ($451m) from a placement of new shares in order to fund part of a HK$13.79bn asset injection from Green View Holding.

China Reinsurance Corp and CICC passed their respective listing hearings with the Hong Kong Stock Exchange on September 17, clearing the way for a pair of chunky IPOs in the city.

Jujiang Construction Group has filed for an IPO on the Hong Kong Stock Exchange (HKEx) with Guotai Junan International leading the trade as sole sponsor.

In this round-up, Argentina gets clearing bank, Lord Mayor of London pays a visit, CLSA gives its verdict on One Belt, One Road and HKMA chief calms fears over the renminbi.

Australian lender Macquarie has rejigged its Asia equity capital markets unit with the appointments of Jack Yee and Arthur van Dijk as co-heads of ECM, according to sources close to the moves.