Morgan Stanley

Clydesdale and Yorkshire Bank Group was due to close the book for its IPO at 2pm on Monday, having put out a final message to inform investors that orders below 180p a share risked missing out. At that level, the deal size would be £397.5m.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, has tightened the price range of its London initial public offering to the low end.

Nehchal Khanna, a managing director at Morgan Stanley’s investment bank, is leaving the firm.

The heir to Samsung Group has raised W382bn ($318.7m) by selling part of his holding in Samsung SDS, a subsidiary of the South Korean conglomerate.

Morgan Stanley has announced a round of managing director promotions for the year, which include a number of capital markets moves in Asia.

Postal Savings Bank of China has selected five banks to lead its jumbo $15bn IPO, which is set to become the largest listing in Hong Kong in five years.

Shareholders of National Australia Bank, the owner of Clydesdale and Yorkshire Bank Group, have voted to separate NAB and CYBG as a final nudge for the UK institution before it is due to float early next week.

While some prospective issuers are still busy building their IPO books, and CYBG’s offering is oversubscribed, the cancellation of a deal on Tuesday spoke volumes about the difficulty of doing deals in a equity capital market.

Postal Savings Bank of China has picked five banks to lead its listing, which could raise as much as $15bn to become the largest IPO in Hong Kong in five years.

Samsung Bioepis, the pharmaceutical arm of the South Korean conglomerate, has decided to postpone its Nasdaq IPO due to valuation issues and to make way for the listing of Samsung BioLogics.

CMC Markets, the financial spread betting firm, set on Tuesday the price range of its London IPO at a level that will value the firm at up to £794m.

Spanish low cost airline Volotea has decided to postpone its initial public offering in Madrid, making it the first ECM victim of this year’s heightened market volatility.