North America
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Dada Nexus, which operates on-demand retail and delivery platforms in China, raised $450m this week after selling a chunk of new equity. -
The dollar bond market is wide open for companies to take advantage of strong demand and a rally in spreads, boosting hopes for a busy end to a record year for investment grade issuance.
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Baker Bros Advisors, a shareholder in Chinese biopharmaceutical company BeiGene, has raised $340.1m from a sell-down of the firm’s American depositary shares.
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A rotation into some cyclical stocks has lifted equity markets of late. But investor returns overall are still heavily reliant on a small basket of tech stocks with sky high valuations and any retreat from these names in a hurry could prompt a stock market rout.
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The merger of S&P Global and IHS Markit, announced on Monday, will create a larger data provider for financial markets.
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The Riksbank, Sweden’s central bank, is adding a “negative screening” process to its purchases of corporate bonds under its quantitative easing programme, meaning it will no longer buy the bonds of the most polluting companies.
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MUFG is overhauling personnel and its business model to try to escape a cycle of low returns, writes David Rothnie.
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US corporate bond bankers predict a final flurry of issuance before year end, though there have been no deals this week ahead of the Thanksgiving holiday, and after treasury secretary Steven Mnuchin moved to stop some quantitative easing.
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More airlines are expected to issue new shares and convertible bonds over the coming months as the industry prepares for a recovery in 2021, spurred by the widespread availability of Covid-19 vaccines.
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Stuart Taylor, who helped set up bond market data business Algomi, has joined MUFG's global markets business as head of electronic trading.
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Ozon, the Russian e-commerce company, completed its IPO on the Nasdaq on Tuesday having built a huge order book for the stock.
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Singapore-based Tiga Acquisition Corp has raised $240m after increasing the size of its New York Stock Exchange IPO.
