Northeast Asia

Zhenro Properties Group has wrapped up its debut offshore borrowing at $120m-equivalent with commitments from five lenders.

Shanghai Henlius Biotech has resubmitted its application to list on the Hong Kong Stock Exchange with an IPO worth around $500m.

Rabobank has appointed Ian Baggott from the Loan Market Association to lead its Asia capital markets team, effective in August.

China’s CIMC Vehicles, a trailer maker, has priced its float of 265m shares on the Hong Kong Stock Exchange at the bottom of the range, raising HK$1.69bn ($217.1m).

In this round-up, Chinese securities regulators allow their Hong Kong counterpart to access audit papers of Hong Kong-listed mainland companies, Chinese premier Li Keqiang vowed to lift the 51% foreign ownership cap on Chinese financial firms sooner than planned, and free-trade zones (FTZs) receive more autonomy in trying out new policies.

In this round-up, US and China will resume trade talks next week, JP Morgan and Morgan Stanley near 51% stakes in their Chinese joint ventures (JVs), and China’s foreign minister offered a strong-worded rebuttal to the UK’s stand on Hong Kong protests.

FWD Group raised $550m from an unusual subordinated five year bond, just a few days after announcing a $3bn acquisition of one of the largest life insurance firms in Thailand, SCB Life Assurance.

China’s CIMC Vehicles, a trailer maker, has priced its float of 265m shares on the Hong Kong Stock Exchange at the bottom of the range, raising HK$1.69bn ($217.1m).

Guangzhou R&F Properties Co attracted a huge order book for its sixth dollar deal this year, while Hong Kong-listed Dafa Properties Group turned to anchor support for its inaugural offshore public bond.

One banker recently went to Macau for a long weekend with his friends, with plans to drink large amount of whisky, eat from overflowing plates of fine food, and gamble until the small hours of the morning. “I’m going to get lucky,” he promised me.

Budweiser Brewing Company Apac cracked open its up to HK$76.4bn ($9.8bn) Hong Kong IPO this week, set to be the city’s largest listing in nearly a decade and the world’s biggest so far this year, with early investor orders coming in thick and fast. Jonathan Breen reports.

Outstanding dollar bonds from troubled Chinese state-owned commodity trader Tewoo Group hit new lows this week after the company’s subsidiary allegedly missed onshore loan payments.