Morgan Stanley

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.

Shire's $18bn loan looks set for a strong subscription in syndication, said bankers this week, and a string of bridge financing deals is raising the market's mood.

Goodbaby China Holdings started taking orders on Tuesday for a HK$1.3bn ($160.8m) IPO in Hong Kong, as the firm hopes to rise above volatile markets with a compelling discount to its peers.

Cardiff University has mandated three banks for its debut bond, the latest offering in a run of debt issuance from the UK higher education sector, writes Ross Lancaster.

Litigation and settlement costs are still defining the fortunes of the US banks, but this year, it is Goldman’s turn to suffer, while the other Wall Street firms bounce back.

The carnage afflicting worldwide financial markets played into a trio of issuers’ hands this week, with each one able to attract strong demand from investors seeking safety in uncertain times.