Morgan Stanley
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Babytree Group and Tongcheng-Elong Holdings both got their Hong Kong IPOs past the finish line this week, as equity markets globally continue to get battered by volatility. -
Chinese online educator Koolearn Technology Holding has launched pre-marketing for its Hong Kong IPO at a time when the mainland government is stepping up regulation of the private education sector.
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Babytree Group has bagged HK$1.7bn from its IPO after pricing it at the bottom of guidance amid volatility in equity markets.
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Online travel agent Tongcheng-Elong Holdings has raised HK$1.41bn ($180m) from its Hong Kong IPO. The leads on the deal had to spend time convincing a number of anchor investors to stay in the transaction given the state of the market.
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The SSA dollar market’s resilience in the face of a series of potential headwinds was standing firm this week, with Netherlands Waterschapsbank’s benchmark from late last week tightening while bonds in the euro sector widened.
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Nemera, the French maker of drug delivery devices, and UK school operator Cognita are funding their new ownerships in a euro leveraged loan market dominated by acquisition deals.
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Chinese online educator Koolearn Technology Holding has launched investor education for its Hong Kong IPO at a time when the Mainland government is stepping up regulation of the private education sector.
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Shanghai-listed WuXi AppTec has launched pre-marketing for its Hong Kong IPO, which is expected to hit the market by the end of the month, according to a banker close to the deal.
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The dollar bond market was brought to a standstill on Thursday, capping a tough week that saw around 15 borrowers abandon funding plans due to volatility.
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Japanese pharmaceuticals company Takeda implemented the first part of its financing of a £46bn takeover of UK biotech firm Shire on Thursday. The company used a six tranche combination to raise €7.5bn on its debut in the euro market.
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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.
