Morgan Stanley
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Two Hong Kong IPO hopefuls have taken different approaches to their transactions. Tencent-backed Tongcheng-Elong Holdings launched its smaller listing of up to HK$1.8bn ($232.4m) on Tuesday, while Babytree has put its planned float on hold. -
China's CStone Pharmaceuticals is planning to float in Hong Kong, submitting a draft prospectus through sponsors Goldman Sachs and Morgan Stanley.
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Online fashion platform Mogu is planning to float on the New York Stock Exchange for up to $200m, according to a filing with the US regulator.
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Online travel service provider Tongcheng-Elong Holdings is set to launch a truncated Hong Kong IPO on Tuesday after key comparable Ctrip’s stock price collapsed amid volatility last week, according to a source close to the deal.
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The China Securities Regulatory Commission has given Tianqi Lithium the go ahead to list on the Hong Kong Stock Exchange.
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TFI Tab Food Investments, the owner of the Burger King chain in Turkey and China, has formally withdrawn its $220m IPO in the US after delaying it in February.
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Supranationals found heavy demand from investors for privately placed taps of outstanding dollar and euro notes over the past week, with Asian Development Bank printing particularly heavy volumes.
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The European Financial Stability Facility finished off its 2018 issuance this week with what was likely the last jumbo euro benchmark of the year. The deal was solid, but SSA bankers warned the euro market feels “tired”.
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Volkswagen printed the biggest trade in its history as high-grade corporate borrowers blitzed the dollar market in response to the results of the US mid-term elections.
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American pharmaceutical company Allergan, best known for its cosmetic drug Botox, returned to Europe on Thursday for a new three tranche corporate bond deal. The €1.7bn transaction fell short of the company’s debut €2.7bn deal, but was a filip for a market that had been silent the previous day due to the US mid-term elections.
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On Tuesday, Logicor, the largest provider of logistics property in Europe, made its debut in the euro corporate bond market. The €1.8bn three tranche deal is believed to be the largest debut trade by a real estate company in euros.
