Northeast Asia

Asian investors have piled into Qudian’s IPO on the New York Stock Exchange, with the $825m fundraising heavily oversubscribed even before it begins roadshows in the US, said bankers.

Bank of Zhengzhou Co started taking bids for its first offshore additional tier one (AT1) bond on Tuesday, after picking five Chinese banks as global co-ordinators. Only two foreign names made it onto the bookrunner list despite taking the lead in almost all previous Chinese AT1s.

Yanggu Xiangguang Copper has rolled out a $100m syndicated loan with one lender leading the deal.

ANZ has promoted one of its own to head up its debt capital markets group in Asia, while adding a banker from a Chinese rival to lead the north Asia team.

Rise Education, a Bain Capital-backed language trainer, has launched a Nasdaq IPO that could be worth $154m. The deal comes hot on the heels of RYB Education’s scorching success in the aftermarket.

China’s Haier Group Corp will meet investors this week to pitch its debut dollar bond.

China Singyes Solar Technologies Holdings announced on Monday that it had mandated three banks to lead a dollar bond, eyeing a return to the market eight months after making its debut.

Fitch Ratings says China has made progress in downsizing the country’s shadow banking sector, the US Department of Commerce delays its decision over imposing tariffs on Chinese goods, and China Development Bank (CDB) loans to Africa total more than $50bn in the first half of this year.

Haitong UniTrust is preparing for a late October or early November launch of its potential $500m Hong Kong listing, according to a banker working on the transaction.

The People’s Bank of China sticks to its neutral monetary policy, China Securities Regulatory Commission (CSRC) says it wants to build first class investment banks in the domestic market, and FTSE Russell refrains from reclassifying the Chinese A-share market as a secondary emerging market.

Hong Kong carrier Cathay Pacific Airways has landed in the international loan market for a $350m three year borrowing.

Sichuan Energy Investment Development Co is looking to list on the Hong Kong Stock Exchange, having filed a draft prospectus with the bourse this week.