Morgan Stanley

Clothing manufacturer Crystal International Group has opened books for its Hong Kong IPO, with a view to raising as much as HK$4.5bn ($573.8m) from selling new stock.

Tencent Holdings-backed China Literature’s $600m-$800m Hong Kong IPO is off to a red-hot start as pre-deal investor education begins, with shadow indications of interest already strong after the first day.

Piramal Enterprises has closed what bankers are touting as the first offering of mandatory convertible bonds in India through a qualified institutional placement, with the deal bagging close to $1bn in investor orders.

Chinese after-school tutoring service Four Seasons Education has begun premarketing for its potential $120m IPO on the New York Stock Exchange, according to a source close to the deal.

Crystal International Group intends to start taking orders for its $574m Hong Kong IPO on Tuesday at a valuation of up to 15 times earnings, according to bankers close to the matter.

India’s Piramal Enterprises is in the market with an unusual sale of mandatory convertible bonds through a qualified institutional placement, part of a fundraising drive to that could fetch up to Rp70bn ($1.1bn).

Dongfeng-Nissan Auto Finance has tapped the Chinese asset-backed securities (ABS) market for a third time this year with a Rmb3.5bn ($531.9m) two-tranche deal. The company made its first attempt to attract foreign investors trading through Bond Connect in the October 12 deal – with mixed results.

Sea said its backer Tencent Holdings, the Chinese technology giant, will take up a $100m portion of the southeast Asian e-sports company’s $696m IPO in the US.

Northrop Grumman and Wal-Mart printed the biggest deals in their history as event-driven dollar bond supply roared back to life following the Columbus Day holiday.

The private equity arm of Goldman Sachs has sold the last of its shares in Dong Energy, the Danish power company, for Dkr4.3bn (€576m).

Yet another new London IPO was unveiled on Thursday, when ContourGlobal, the emerging markets-focused power generation company, said it would raise $400m to finance growth and cut debt, by selling new shares to institutional investors.

A trio of Asian firms listing in the US have received stellar responses to their IPOs, with Qudian, Rise Education and Sea all getting the thumbs-up from investors.