Macquarie Group

In this round-up, China International Capital Corporation UK (CICC UK) became Stock Connect’s first depository receipt conversion institution, S&P and FTSE Russell added China A-shares to their indices, and October capital outflows from China jumped while outflows from other emerging markets stayed flat.

Luzhou City Commercial Bank and Ever Sunshine Lifestyle Services Group kicked off bookbuilding for their respective IPOs as they aim to cross the finish line before the end of the year.

Hong Kong IPO hopefuls Babytree Group and Tongcheng-Elong Holdings announced deals drastically smaller than their initial targets this week. But despite the clear sign of trouble in the market, a few more Chinese companies are considering pushing ahead with their own listings before the end of the month. Jonathan Breen reports.

Four mainland technology companies kicked off pre-deal investor education for their Hong Kong IPOs on Monday, gauging the market’s appetite ahead of bookbuilding in early November, according to sources close to the listings.

Global equity markets were slammed this week, with a rout on Wednesday wiping out all the gains this year in the US. Amid the turmoil, a handful of technology firms were awaiting approvals to list in Hong Kong — some are expected to take a cautious approach but most are gearing up for a last-minute dash to find a closing IPO window. Jonathan Breen reports.

Beijing Huatu Hongyang Education & Culture Corp has revived its Hong Kong IPO plans, refiling a draft prospectus with updated financial information.

Burford Capital, the UK litigation finance company, completed a £196.1m capital increase on Monday night, selling just over 10.4m shares at £18.50 a share. The company's shares fell below the offer price in trading before recovering throughout the day on Tuesday.

Gas asset and infrastructure investment consortium Quadgas made its debut in the sterling corporate bond market on Monday with a £350m 11 year offering. The company had previously raised funds from the US private placement market, but this was its first benchmark public deal.

The funding for KKR’s acquisition of BMC Software is set to add almost $2bn of high yield bonds in euros and dollars this week, the last portion of a cross-border, multi-billion debt deal that has enlivened the leveraged finance markets.

Nicholas Moore, the chief executive of Macquarie Group, announced on Thursday that he would be retiring on November 30. He will be replaced by Shemara Wikramanayake, the head of Macquarie Asset Management.

Hong Kong was inundated with IPO filings this week as banks sought to give themselves enough runway to launch deals before the end of the year.

Hong Kong start-up Welab Holdings has filed a listing application with Morgan Stanley as lead left underwriter and sponsor alongside JP Morgan.