Northeast Asia

South Korea's Big Hit Entertainment, the talent manager behind globally-popular boy band BTS, has sealed the country’s largest listing in three years as investors continue to flock to Korea's IPO market.

JD Health International, the healthcare unit of Chinese e-commerce company JD.com, has submitted an IPO application to Hong Kong’s stock exchange.

China Yangtze Power has raised $1.8bn from a smaller-than-expected offer of Global Depositary Receipts in London, sealing only the third listing through the London-Shanghai Stock Connect scheme.

In this round-up, Xi Jinping reveals plans for the country to become carbon neutral by 2060, FTSE Russell decides to include Chinese government bonds in its flagship index, and the State Administration of Foreign Exchange resumes granting new outbound investment quotas.

FTSE Russell plans to add Chinese government bonds to its flagship FTSE World Government Bond Index (WGBI) next year, a move that is expected to provide investors further access to the world’s second largest bond market.

China’s Minth Group, an auto parts company, has closed its debut loan at a bigger size of $200m.

Korean video game publisher Krafton has invited local and international banks to pitch for a spot on its IPO.

Biopharmaceutical firm Everest Medicines has hit the road for its up to HK$3.5bn ($451m) Hong Kong IPO.

China Huarong Asset Management offered investors a new issue premium to get its $1.2bn three-tranche bond past the finish line, a move that resulted in a three times covered book with decent support from real money accounts.

Kingsoft Cloud Holdings, backed by smartphone maker Xiaomi Corp, has raised $509.1m from a follow-on offering of American Depositary Shares, according to a source familiar with the matter.

Baozun, a Nasdaq-listed e-commerce solutions provider, raised HK$3.3bn ($427.5m) from its secondary offering in Hong Kong this week, wrapping up the deal on strong international demand.

Weak investor sentiment, oversupply and aggressive pricing strategies hurt the Asian dollar bond market this week. As issuers rushed to sell deals before China’s Golden Week holiday and the US presidential election in November, many were left with transactions that fell short of expectations or slumped in the secondary market. Morgan Davis reports.