Morgan Stanley

Postal Savings Bank of China is set to kick off investor education for its $8bn IPO after the Hong Kong Stock Exchange approved its plan on Thursday.

The sun continued to shine on South African equity capital markets this week, despite growing political volatility.

Bankers are braced for a bumper September of corporate dollar issuance as M&A funders look to tap the market amid huge demand for high grade paper.

The gap to repay a €2.7bn bridge facility that supports HeidelbergCement's purchase of Italcementi is set to close once the former cashes in the sale of its West Virginia factory.

Two accelerated bookbuilds lit up the Asian market this week as equity capital market bankers foresaw brightening prospects for block trades. As one banker said that term sheets for potential overnight share sales were “flying around”, the end of the summer could usher in a bumper harvest of deals. John Loh reports.

Handelsbanken sold its entire 6.8% stake in Industrivärden, the Swedish investment company that owns 25% of the bank, for Skr4.49bn ($536m), unwinding the last significant cross-shareholding between Industrivarden and its portfolio of companies.

India’s largest bourse, the National Stock Exchange, has moved a step closer to an IPO, naming four firms as joint global co-ordinators for its domestic listing.

India’s RBL Bank priced its Rp12.1bn ($180.4m) IPO at the top end of guidance after a surge of demand pushed the deal to close nearly 70 times subscribed, said sources familiar with it.

The Securities and Futures Commission (SFC) has reprimanded Morgan Stanley Hong Kong Securities over internal control failures, slapping a fine of HK$18.5m ($2.4m) on the US bank.

SPAR BBBEE Retailer Employee Trust and the SPAR BBBEE Employee Trust, have sold 3.8% of Spar Group, the South African supermarket chain, for R1.5bn ($108m) via an accelerated bookbuild that unwound a black economic empowerment scheme set up in 2009.

Datang Environment Industry Group Co has refiled its IPO application with the Hong Kong bourse almost a year after its first attempt at a listing, but this time without Morgan Stanley as a joint sponsor.

China Orient Asset Management Corp is set for a new five year dollar bond, opening books for the deal on Tuesday morning.