Northeast Asia

The first four companies to complete IPOs on the new technology board in Shanghai were flooded with phenomenal retail demand of as much as 2,500 times, despite the issuers’ lofty valuations. But an imminent increase in supply could calm the frenzy, writes Rebecca Feng.

DCM bankers in Asia are predicting a record year for bond issuance, following a strong first half buoyed by positive investor sentiment and favourable market conditions. Although the year so far shows a complicated story of feast and famine in different parts of the debt market, there is plenty of optimism for the rest of 2019. Morgan Davis reports.

The Hong Kong Stock Exchange is sifting through three IPO applications submitted by Chinese companies in three different sectors this week.

Hong Kong’s IPO market endured a difficult first half to the year, with trade war tensions and widespread protests fuelling a wave of stock market volatility. But there is plenty of business to get through before the end of 2019. Gina Lee reports.

HK bans Leissner for life over 1MDB scandal – BofA names new Apac IB co-head – CS nabs equity research head – Nomura loses senior Malaysia banker – New appointments at Goldman

The Chinese Ministry of Finance (MoF) completed its maiden Rmb1.7bn ($247m) three year offshore renminbi bond in Macau on Thursday, pricing it slightly higher than onshore government bonds.

The arrest of Future Land Development Holdings’ founder and chairman caused a sharp sell-off in the Chinese property company’s dollar bonds, with analysts worried the incident may hurt its debt-servicing ability in the short and long term.

Swedish car manufacturer Volvo made its debut in Hong Kong dollars on Wednesday amid increasing tensions and unrest in the city.

The Hong Kong securities watchdog has banned former Goldman Sachs banker Tim Leissner from working in the city’s financial industry ever again for his involvement in the 1MDB multi-billion-dollar money laundering scheme.

Credit Suisse has poached UBS research veteran Erica Poon Werkun to head equity research for Asia Pacific, according to an internal memo seen by GlobalCapital Asia.

Korea Development Bank (KDB) tapped the green investor base in Europe for its latest euro bond, achieving a record low funding cost and an unprecedented 0% coupon for a South Korean issuer.

South Korea’s green and sustainable bond market is thriving this year. The country is already streets ahead of its peer China, with its sovereign printing a green deal and issuers embracing new twists on these financings. That forward-thinking mentality is just the beginning.