Morgan Stanley
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Singapore IPOs are heating up as NetLink Trust began drumming up interest on Tuesday for a $1.5bn IPO, set to be one of the country’s largest this year, with AEP Reit expected to follow soon. -
Investors went crazy for WuXi Biologics’ HK$3.9bn ($500.4m) Hong Kong IPO, driving pricing to the top of expectations as hundreds of global accounts poured in.
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Bayer monetised a large stake in Covestro, the plastics company it span off in 2015, on Tuesday night through a simultaneous block trade and exchangeable bond worth a total of €2bn, which were both covered in an hour by more than 100 investors each.
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Liberty Global’s UPC Holding locked in a coupon of below 4% for a 12 year bond, the longest maturity for a new deal in the European high yield market so far this year.
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Eurozone issuers crammed into the euro market on Wednesday ahead of a European Central Bank meeting.
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Two Hong Kong-listed firms sold new equity on Tuesday via block trades at double-digit discounts, as Jiayuan International Group and Grand Baoxin Auto Group raised a combined HK$2.2bn ($277.1m).
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WuXi Biologics has priced its HK$3.9bn ($500.4m) IPO at the top of guidance after an overwhelming show of demand from institutional and retail investors, according to a banker close to the deal.
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Delivery Hero, the German online food delivery marketplace, announced its intention to float on Tuesday morning, ending months of speculation about its intention to go public.
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Grand Baoxin Auto Group launched a primary equity raise on Tuesday morning that could fetch up to HK$1.03bn ($132m).
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Singaporean broadband provider NetLink Trust is set to begin investor education this week for its IPO, which could raise around $1.5bn, according to a banker close to the deal.
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A trio of benchmark issuers hit the dollar market on Thursday to ensure June got off to a brisk start as investors remained in risk-on mode in a holiday shortened week.
