Morgan Stanley

Xiaomi Corp has said that about half of its expected $10bn dual listing in Hong Kong and China will come from the offering of China Depositary Receipts to Mainland investors.

German chemicals producer BASF found overwhelming demand for its first sterling corporate bond of 2018 this week. The issuer’s £250m ($330m) offering was more than six times oversubscribed on Thursday, as sterling investors clamoured for a rare non-UK credit.

Wise Talent Information Technology, owner of recruitment website Liepin.com, has opened books for its up to HK$3.1bn ($398.1m) Hong Kong IPO.

Chinese used car e-commerce platform Uxin began bookbuilding on Thursday for an IPO that could raise up to $475m.

The IPO of Adyen, the Dutch payments processing company, is due to be priced at €240 a share, the top of the initial range, after the deal has attracted “unprecedented” levels of interest from investors.

Leisure entrepreneur Eric Wilborts pleased the market on Thursday night by offering up his entire stake in Basic Fit, the Dutch operator of low cost gyms and health clubs, in response to a number of reverse inquiries from investors.

Corporate bond issuers enjoyed tighter spreads and strong order books amid an improvement in issuance conditions as they jumped back into the dollar market this week.

Puxin and VCredit Holdings, both of which launched IPOs earlier this week, were covered on their first day of bookbuilding.

Xiaomi Corp had its listing hearing with the Hong Kong Stock Exchange on Thursday, paving the way for investor education to begin on Monday if the IPO is approved.

UBS appoints Asia DCM syndicate heads – BNP’s SEA loan syndicate head to relocate – Morgan Stanley’s ECM co-head dies at 41 – Goldman DCM banker moves to Macquarie – CMS’s Chien moves to buy-side – Citi builds Oz team – Wong leaves HSBC

General Motors’ joint venture sealed a Rmb10.4bn ($1.62bn) deal in the Chinese securitization market on June 6, marking its biggest outing so far. Bankers on the deal said the auto company wanted to bag the cash before onshore rates come under pressure in the second half of the year.

Two Chinese online platform businesses will start pre-deal investor education for their Hong Kong IPOs on Thursday, according to bankers.