Northeast Asia

Chinese hospitality company Huazhu Group has launched a secondary offering in Hong Kong, the latest in a growing number of dual listings on the bourse.

Joy Spreader Interactive Technology kicked off its Hong Kong IPO on Thursday, aiming to raise up to HK$1.7bn ($225.2m).

Hong Kong-listed ESR Cayman pulled off its first convertible bond this week, signalling an increasing flow of deals to come to the Asian equity-linked market. The company took advantage of its surging stock price and a hot reception from investors to raise $350m. Jonathan Breen reports.

It can occasionally be tempting for a young banker to pull a sickie to spend a day with friends. But sick days are best spent under the cover of darkness — not in the searing sun.

AIA Group has issued a $1.75bn subordinated bond, which will be the first to qualify as tier two capital under a new regulatory framework in the works in Hong Kong. Alice Huang reports.

Minsheng appoints new syndicate head — MUFG hires in Vietnam

Chinese local government financing vehicle (LGFV) Linyi City Construction Investment Group Co raised $300m from its inaugural transaction against a weaker market backdrop.

The Republic of Korea wowed investors in the dollar and euro markets on Wednesday, with a record $1.45bn-equivalent dual-tranche bond. The deal, split between 10 year dollar and five year euro notes, was priced at ultra-tight spreads — including a negative yield for the euro tranche. Morgan Davis reports.

The World Bank has selected a trio of banks for a new 15 year Sustainable Development Bond (SDB), its first euro benchmark of its 2020/21 fiscal year. Elsewhere, the Republic of Korea scooped €700m with its return to the euro market after a six year absence.

SciClone Pharmaceutical (Holdings), a Chinese biopharmaceutical company that claims to have developed a drug to treat Covid-19, is seeking the greenlight to list in Hong Kong.

Chinese pet-focused e-commerce site Boqii Holding filed its listing documents for a US IPO on Tuesday, but Citigroup, one of the original lead banks on the deal, is now no longer in the syndicate.

Chindata Group Holdings, iHuman and Yalla Group filed IPO paperwork with the US regulator on Tuesday as they prepare to float on New York stock exchanges.