JP Morgan
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China Resources Pharmaceutical Group will raise as much as HK$15.6bn ($2.0bn) via a Hong Kong IPO after firming up the price range. -
An over-ambitious price range and miscommunication among the lead banks towards the end of bookbuilding has forced Doosan Bobcat to pull its W2.4tr ($2.2bn) IPO in South Korea, according to bankers.
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Indonesian textile company Delta Dunia Sandang Tekstil has signed its $260m fundraising with 13 lenders, about four months after banks were first sounded out.
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Snam, the Italian gas utility, issued a €1.25bn 10 year bond on Monday, winning praise from bankers away from the deal as it printed with no new issue premium.
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With one quarter left of 2016 to go and global issuance 22% down, the equity capital markets bookrunner race is going into its final straight. Familiar faces are leading the pack, but incumbents in general are having a tough year.
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China’s Cofco Meat has begun pre-marketing a potential $300m Hong Kong IPO and is set to open books within two weeks, according to bankers close to the deal.
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It was all going so well for Italy. Its entry to the 50 year bond club on Tuesday pulled in a monstrous €18.5bn of orders. But almost immediately the bond became tradeable, the market frothed with talk of the European Central Bank tapering QE, sending Eurozone periphery bonds into a tailspin to remind everyone just how much markets are in the grip of central bank policy. Lewis McLellan reports.
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The Republic of Namibia, which has outlined plans to issue around $5bn of loans and bonds over the next 10 years, is to undertake a non-deal roadshow with fixed income investors in the US and UK.
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The second block trade in Refresco Gerber, the Dutch soft drinks bottler, since its €563m IPO in March 2015, came on Wednesday night.
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Misys, the UK banking software company owned by Vista Capital Partners, will make its return to the London Stock Exchange via an IPO in early November, the company said in an intention-to-float document on Thursday morning.
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The Inter-American Development Bank, a Canadian sub-sovereign and two Danish agencies offered chunky issuance to the Kangaroo market this week. The SSAs took advantage of Asian accounts looking to work their cash at the 10 year part of the Australian dollar curve.
