North America

Gracell Biotechnologies has raised $209m from its Nasdaq IPO after increasing the size of the float and pricing the deal above the initial marketed range.

HSBC’s aims to boost market share in investment banking and rebalance towards Asia remain intact despite the resignation of one of its most senior lieutenants. But 2021 must be about execution, writes David Rothnie.

The New York Stock Exchange’s flip-flop on whether to delist three Chinese telecommunications giants caused plenty of confusion in the market this week, but mainland companies are still keen to sell shares in the US. Jonathan Breen reports.

Singaporean ride-hailing company Grab Holdings has added a dash of excitement to the loan market with plans to raise $750m from a new outing. Pan Yue reports.

Singapore-based Ivanhoe Capital listed a special purpose acquisition company (Spac) on the New York Stock Exchange this week, raising $240m after increasing the size of the float.

Mexican non-bank lender Crédito Real began investor calls on Wednesday as it looks to take advantage of highly liquid bond markets to partially refinance a bond maturing in 2023, and simultaneously align the covenant packages on all of its senior unsecured bonds.

Singapore-based Ivanhoe Capital, led by mining billionaire Robert Friedland, is floating a special purpose acquisition company (Spac) on the New York Stock Exchange.

Nueva Elektra del Milenio, the company that operates the retail store and money transfer businesses of Mexico’s Grupo Elektra, will begin virtual meetings with bond investors on Wednesday as it looks to sell a senior secured bond collateralised by remittance flows originated in the US.

Craig Meisner, the former head of loan markets for Lloyds Banking Group for North America, has landed a new job at ING Capital.

Cancelling debt, dual interest rates, helicopter money: if the recovery from the coronavirus crisis stalls in the developed world, we will see calls for more radical central bank action.

Political turmoil in the US led to the country's stock markets falling on the first trading day of 2021 on Monday. For Europe’s equity bankers the US markets are an important marker of global investor sentiment, meaning the next few days in US politics will determine what accelerated placements they can bring to market in Europe.

The New York Stock Exchange has dropped plans to delist the stocks of China Mobile, China Telecom Corp and China Unicom (Hong Kong).