Morgan Stanley
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E-commerce giant Alibaba finally looks ready to price its long-awaited jumbo IPO with news emerging Wednesday that it is expected to begin a roadshow in the first week of September. -
China Vast Industrial Urban Development Company opened its HK$1.23bn ($159m) IPO on Tuesday, August 12, with books fully covered ahead of launch. But the absence of direct comparables means that investors are buying into a one-of-a-kind story.
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Malaysian conglomerate Sime Darby has mandated four banks to work on the IPO of its automobile unit, Sime Darby Motors, according to bankers close to the transaction.
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Industrial town developer China Vast Industrial Urban Development Company is seeking to list on the Hong Kong Stock Exchange having filed its IPO application to the city’s regulator on August 11.
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Morgan Stanley has hired a banker from Deutsche in the new role of head of high yield, EMEA.
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China Merchants Bank returned to the bond market on Tuesday but this time the proceeds of the deal will go to its subsidiary CMB Leasing.
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Retail investors gave China Rundong Automobile Group’s HK$962m ($124m) IPO the cold shoulder as their tranche ended up only 32% covered. Luckily for the car dealer, there was enough interest from institutional accounts to make up the gap, allowing it to seal the deal on Wednesday.
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China Merchants Bank made a return to the bond market on Tuesday, August 5 but this time the proceeds of the deal will go to its subsidiary CMB Leasing.
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China’s big four banks have finally started issuing Basel III debt in size onshore in what is expected to be a huge supply of deals. Bank of China and Industrial and Commercial Bank of China are first put of the blocks and could soon be heading offshore as well.
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CMB Leasing, a subsidiary of China Merchants Bank, is conducting a two-pronged attack on the Asian capital markets and has opened guidance on a five year dollar bond after launching a loan into syndication on June 20.
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China’s Greenland Holding Group priced a $500m three year bond on Thursday after setting up a new MTN programme last week. The state owned real estate developer was met with a boisterous reception from investors and was able to tighten pricing by 37.5bp.
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