North America

Nasdaq-listed Futu Holdings, parent of Chinese online brokerage Futu Securities, has raised $313.5m from a follow-on offering, hitting the market on the back of a more than 200% surge in its share price this year.

The fear of a volatile and bitterly contested US election between Donald Trump and Democratic Party challenger Joe Biden is likely to create a keen sense of urgency for companies seeking to sell equity when the European market reopens at the end of this month.

Grant Thornton LLP, the US affiliate of the international accounting firm, is raising money via the private placement market for the first time in almost 20 years, according to market sources. Grant Thornton LLP follows into the market the US arms of Deloitte, KPMG and PwC, who have each raised PPs in the past three months.

Envestnet Inc, the US provider of software to the wealth management industry, has raised $450m via the sale of a new convertible bond, joining the horde of software companies that have tapped the equity-linked market during the pandemic.

The government of Bermuda turned to bond markets for the first time since November 2018 on Monday, raising $1.35bn of new notes to repay debt and fund fiscal spending including Covid-19 measures.

Futu Holdings, parent of Hong Kong-based brokerage Futu Securities, has kicked off bookbuilding for a follow-on of primary stock.

This week in Keeping Tabs: whether investors are prepared for the impact of a Joe Biden win on environmental policy, how bond and syndicated loan markets diverged in the crisis, and a crypto app that tanked.

Germany’s CureVac has gone public on the Nasdaq, joining the army of biotech companies that have tapped the equity capital markets for cash during the pandemic, despite growing concern of a brewing dot-com style bubble.

Soaring demand and tight spreads lured repeat borrowers as summer dollar bond supply soared with $34bn of new issuance crammed into four days.

CME Group is making a play for the volatility derivatives market. On Thursday it announced a new futures contract that will reference the Nasdaq 100 volatility index.

Ke Holdings sealed a $2.12bn IPO on the New York Stock Exchange this week, the largest US listing by a Chinese firm in more than two years, defying the shock caused by US sanctions against one of its largest shareholders, Tencent Holdings. Jonathan Breen reports.

OneConnect Financial Technology Co, a Chinese technology-as-a-service platform, raised $324m this week from a larger than expected follow-on offering of its US-listed stock.