Morgan Stanley

A-Living Services Co plans to raise around HK$4.7bn ($605m) in a Hong Kong IPO, on the back of strong indications of interest from investors.

Metrovacesa, the Spanish property developer, has opened the books for its IPO on the Spanish stock exchanges with a price range that values it at up to €2.95bn.

Cayman Islands-based Morgan Stanley Formosa Holdings opened a block sale of CTBC Financial Holdings’ stock on Monday, hoping to raise up to NT$5.9bn ($202.3m).

Instone Real Estate Group, the German housebuilder, plans to go public on the Frankfurt Stock Exchange in February, having filed an intention to float document on Monday.

Indonesian construction services company Wijaya Karya began marketing an offshore rupiah deal on Monday morning, making it the second Komodo bond from the country to hit the market.

Investors showed their faith in Tata Steel on Thursday, pouring money into the Indian issuer’s dual-tranche transaction, shrugging off the weak structure and aggressive pricing.

Peking University Founder Group Company and Bank of Communications Financial Leasing Co used keepwell deeds for their dollar bond sales on Thursday, paying a bit of premium for the structure.

Ford Automotive Finance (China) started the year in China’s asset-backed securities market by selling a Rmb4bn (Rmb618.3m) deal on Thursday. The deal was open to foreign investors, but onshore demand formed the core support for Ford’s sale, sources on the deal told GlobalRMB.

Thai firm Canopus International has raised $200m from a bond exchangeable into shares of Indorama Ventures, the first zero coupon exchangeable with a Thailand-listed underlying stock.

Shanghai Pharmaceuticals Holding Co raised HK$3.1bn ($396.6m) through an H-share placement on Thursday, its biggest follow-on offering yet.

Following a fourth quarter in 2016 that saw frenzied trading on the back of Donald Trump’s election as president, a rally in US stocks and a steepening yield curve, the biggest US banks saw trading revenues slide at the end of last year.

All of the US banks that reported results this week booked losses related to troubled South African retailer Steinhoff, other than Morgan Stanley — despite the close relationship between the bank and the firm, which saw it handed a plumb gloco role on the IPO of its African retail arm in September.