Morgan Stanley

Equity capital market bankers are finding it hard to feel optimistic about this quarter. By close last night, European stocks had already fallen 8.8% so far this year, and few deals had been launched.

BeiGene is looking to raise $132m from a Nasdaq IPO, with the firm kicking off bookbuilding on Tuesday for what will be the year’s first listing of a Chinese issuer in the US.

Bank Nederlandse Gemeenten (BNG) is the first SSA borrower this week to brave the dollar bond market as tricky conditions in other markets make life tough for issuers.

Goodbaby China has kicked off pre-marketing for a potential $200m IPO and could start the roadshow next week, according to market sources.

Spanish low cost airline Volotea has declared its intention to float in Madrid, with one lead banker saying the oil price fall could help the deal succeed.

Clydesdale and Yorkshire Bank Group, the UK mid-sized bank being spun off by National Australia Bank, has set the price range for its London IPO at a level that it hopes will prove compelling to investors in spite of market volatility.

HeidelbergCement, the German building materials manufacturer, has done part of the financing for its acquisition of ItalCementi in the Schuldschein market, but insists it is not afraid of volatility in the bond market.

Standard & Poor’s has warned that Chinese property developers could be in line for possible rating downgrades if the renminbi continues to depreciate.

Chinese peer-to-peer lender Lufax is calling on banks to pitch for its $5bn listing in Hong Kong, expected to be the city’s largest float in 2016.

Malaysia’s Khazanah Nasional is gearing up for its first Islamic bond in dollars, having mandated banks to arrange a roadshow.

A strong start to public sector dollar issuance in 2016 fell away this week, as volatile swap spreads returned and worries over the health of the Chinese economy made printing further along the curve difficult.

CMC Markets, the financial spread betting firm founded by Peter Cruddas, has announced its long-expected intention to float in London.