Hong Kong SAR

WH Group has turned to banks for about $1.25bn to fund a share buy-back, as the world’s largest pork company takes advantage of attractive market conditions to raise a new loan. Unlike its acquisition fundraising eight years ago, which received plenty of criticism and pushback from lenders, the market’s response this time around is different — despite some initial confusion, writes Pan Yue.

Countries around the world are announcing all kinds of incentives to encourage people to get vaccinated. But access to alcohol may offer the most appeal.

Chengdu Quanyuantang Pharmacy Chain has started laying the foundation for its Hong Kong IPO, filing initial listing documents with the bourse this week.

Hong Kong department store chain Lifestyle International Holdings returned to the debt market this week after a two-year break to raise $350m.

Hong Kong developer Pacific Century Premium Developments (PCPD) printed a $700m deal on Tuesday as part of its efforts to tender a 2022 bond.

China Logistics Property Holdings Co built up strong demand for its HK$778.8m ($100.4m) placement on Tuesday evening, but its stock came under selling pressure the following day.

Pharmaron Beijing Co brought the first renminbi-linked but dollar settled convertible bond to the market in nearly five years this week, raising $600m from the dual tranche deal. Bankers called it a ‘smashing success’ and said the issue pipeline from the pharmaceutical sector is strengthening. Rashmi Kumar reports.

JC International Finance and Leasing Co, a wholly-owned subsidiary of China’s Legend Holdings, is making its loan debut.

China Youran Dairy Group and Carsgen Therapeutics Holdings have both rolled out their Hong Kong IPOs.

HSBC has appointed David Liao and Surendra Rosha as co-chief executives for its Asia Pacific business, succeeding veteran banker Peter Wong.

JP Morgan has appointed Andrew Verdasca as head of East Asia technology, media and telecommunications (TMT), according to an internal announcement seen by GlobalCapital Asia.

Property developer C&D International Investment Group has raised HK$942.5m ($121.5m) from a top-up placement to expand its land reserves.