Morgan Stanley

China Yongda Automobiles Services Holdings has raised HK$888.3m ($114.6m) overnight from a top-up placement, pricing the shares off the bottom of the marketed range.

One of Asia’s most frequent borrowers BOC Aviation has mandated six firms for a dollar-denominated Reg S outing, with roadshow set to take place early next week.

Volatility late in the week failed to dampen a scorching few days of public sector dollar issuance, auguring well for more expected supply in the currency next week. Four issuers — some of which came this week to avoid other trades pencilled in for next week — were able to price deals at tight levels, with some coming through their curves.

Shares in Koninklijke VolkerWessels, the Dutch construction and engineering company, had risen 3.8% by lunchtime when they began trading in Amsterdam on Friday, after the company's €575m IPO had been priced at €23 a share.

Australian billionaire James Packer unwound the last of his position in a Macau joint venture with Hong Kong scion Lawrence Ho this week. Packer raked in $1.2bn from an unusually structured deal that included a $337m block trade, capturing the attention of Asian and US investors. Jonathan Breen reports.

It was a slam dunk for India’s first infrastructure investment trust, which raised Rp46.5bn ($727.4m) after IRB InvIT Fund priced its IPO comfortably at the top of expectations.

WuXi BioLogics, which is planning a $200m-$300m IPO in Hong Kong, is set to begin investor education next week if the stock exchange grants it approval at a listing hearing on May 15, said a banker close to the deal.

Bright Scholar Education Holdings had covered its $150m US IPO as of Monday, according to bankers arranging the deal.

Public sector issuers “can do whatever they want” in a rampant dollar market, with investors ploughing into books despite deals pricing close to or flat to their curves.

The victory of Emmanuel Macron in France's presidential election opens wide the window between now and the UK general election for IPOs to be done. The block trades market is also strong, with several large deals completed so far this week.

Public sector borrowers are rushing back into dollars after a quiet few weeks for the currency, with a trio of issuers taking indications of interest for Wednesday business.

The largest European high yield bond issue for a year is being prepared as Intrum Justitia and Lindorff, two Nordic debt collectors, ready to complete a merger.