Northeast Asia

The debut dollar bond issue for Heungkuk Fire and Marine Insurance Co has caused some consternation in the market this week. The order book for the South Korean company’s subordinated deal had been open for a week as GlobalCapital Asia went to press on Thursday, leaving bankers and analysts scratching their heads.

Chinese technology unicorn Meituan Dianping is seeking an IPO in Hong Kong that could raise upwards of $4bn.

Asia’s markets were on edge this week as Chinese equities fell into bear territory and the simmering trade war between the US and China deepened. The tensions felled two IPOs but have not brought fundraising activity to a complete stop, even as bankers remain unsure about what happens next. John Loh reports.

The National Development and Reform Commission intends to restrict offshore bond quotas for Chinese corporations, while also limiting the use of proceeds to refinancing.

Qeeka Home delayed its HK$2.18bn ($277.6m) IPO indefinitely this week as fears grew about a trade war between the US and China.

Korea National Oil Corp (KNOC) has sold its first dollar bond of the year, opting for a Formosa transaction in Taiwan.

Crédit Agricole has sold a Samurai bond to retail buyers, marking the first time it has participated in that market. It is in the tier two format, despite European regulators’ concern that non-institutional investors holding bank capital could prevent the effective resolution of institutions.

Qeeka Home is delaying its HK$2.18bn ($277.6m) IPO in Hong Kong indefinitely as fears grow about a trade war between the US and China.

SC Lowy co-founder and CEO Michel Löwy talks to GlobalCapital about developing a DCM business, Italy and entrepreneurship.

China Huarong Asset Management Co focused on getting a sensible price rather than a large size with its Tuesday bond issue, raising $1.1bn from three tranches. The deal followed a probe of its former chairman earlier this year, as well as a general widening of bonds from the sector.

Chinese steel e-commerce platform Zhaogang.com is seeking the green light for a Hong Kong IPO of up to $400m, according to a banker close to the deal.

Chinese mobile streaming platform Inke hit the road with its Hong Kong IPO on Wednesday. With strong anchor demand in the bag, it is reaching for proceeds of up to HK$1.5bn ($192.6m).