Morgan Stanley
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Wenzhou Kangning Hospital Co is set to pre-market its $100m Hong Kong IPO on October 26, with investor education slated to run for about two weeks before bookbuilding starts. -
A shareholder in Hong Kong-listed Phoenix Healthcare Group has raised HK$894m ($115.35m) by selling some of his shares in the company via a block trade.
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Borrowers enjoyed tight pricing in the US market this week, as a sharp drop in supply helped bring stability to the market and triggered a fall in new issue premiums.
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Teva, the New York-listed Israeli pharmaceutical company, held a meeting with banks on Wednesday for the syndication of $33.75bn of loans to buy generic drug business Allergan Generics.
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The IPO of Amundi, Europe’s largest asset manager, began on Monday with the launch of investor education for a deal that is likely to top €1bn.
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The Indian IPO market is back in full swing with Coffee Day Enterprises seeing a solid outcome for its Rp11.94bn ($183m) deal, in what was the country’s first chunky listing in years. The transaction’s success, buoyed particularly by interest from institutional accounts, has now paved the way for a flurry of IPOs to follow, writes Rashmi Kumar.
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China Reinsurance priced Hong Kong’s third largest IPO of the year at the top of the range to raise HK$15.58bn ($2.01bn), drawing an outpouring of interest from global investors. The trade has buoyed hopes among ECM bankers, as they seek to put a sullen summer behind them.
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Latin American trade finance bank Bladex is understood to be monitoring potential yield levels in Japan’s Tokyo Pro-Bond market and could become the second name from the region to issue there.
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Oberthur Technologies Group, the digital security company fully owned by Advent International, registered its document de base on Monday, as it prepares to float in Paris.
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Bank Nederlandse Gemeenten and KfW came together in the same currency and tenor on Tuesday, with both issuers able to find healthy demand.
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Morgan Stanley might have gone further than the other big US banks in cutting fixed income, but a rocky bond market still weighed hard on its third quarter numbers. Advisory revenues, however, swelled on the back of a booming M&A market.
