Morgan Stanley

Morgan Stanley has made two senior appointments in its southeast Asia investment banking team, according to a memo seen by GlobalCapital Asia.

Nio, a Chinese electric car company, has started sounding out investors for its IPO on the New York Stock Exchange with an indicative size of $1.8bn.

Chinese peer-to-peer lender Weidai is seeking an IPO on the New York Stock Exchange, even as the troubled sector continues to reel from tightening regulations.

Each of the first three days of this week saw a jumbo bond deal in the US corporate bond market, but the volume of other deals dwindled as the week progressed, and Thursday struggled to achieve $1bn of issuance.

Hong Kong saw its second biotechnology listing this week, as BeiGene floated on the city’s stock exchange. But two days after listing it was under water and was followed by a double-digit dive by Ascletis Pharma, the sector’s debut issuer. The state of both stocks are a warning sign for future biotech issuers to rein in valuations, say ECM bankers. Jonathan Breen reports.

The International Finance Corp drew one of the highest BondMarker scores of the year so far with its return to five year dollars after two years away. The trade came in a week of few, but very well received, deals, with the European Stability Mechanism scoring its highest average score of 2018 so far.

The lending arm of Ford’s China operation took advantage of bullish sentiments in the onshore market on August 2, sealing a Rmb4.5bn ($662.3m) securitization. Bankers say Ford managed to price below Nissan, which offered a similar ABS recently, thanks to a major policy announcement that emerged last week.

Credit Suisse has rehired a senior FIG banker from Morgan Stanley to become co-head of EMEA debt capital markets — a role which will be based in Paris, rather than London.

India’s Power Finance Corp raised $300m from a 10 year bullet bond on Thursday. While the issuer was able to pull off a tight price for its second issuance in less than a year, many investors were unconvinced about the credit's worth.

BeiGene priced its IPO in Hong Kong near the top end of guidance on Thursday, raising HK$7.1bn ($903m) from the city’s second biotechnology flotation.

HDFC Asset Management Co has raked in Rp28bn ($407.9m) from its IPO after a big show of demand from institutional and non-institutional investors.

Mainland telecommunications infrastructure giant China Tower raised HK$54.3bn ($6.9bn) this week after getting its mammoth float across the line at the bottom of guidance.