ICBC

IPO bankers are treading cautiously around two of the post-summer season’s most highly anticipated trades in Hong Kong, after a global sell-off in stocks sent investors packing and clouded the outlook on shares sales with China links.

BNP Paribas has walked away from a African sovereign bond mandate because of compliance issues. The bond, for Angola, is expected to have a size of at least $1bn.

BNP Paribas has been forced to return another bond mandate in the emerging markets because of compliance issues.

Everbright Securities Co has mandated seven banks to work on what would be the company’s first outing to the international bond market.

ICBC has established the first round-the-clock RMB clearing facility in its Singapore branch, the bank said in an August 4 statement.