Northeast Asia

The arrival of Typhoon Hato in Hong Kong on Wednesday suspended equity trading in the city, but the impact on the offshore RMB market was limited.

The Hong Kong Stock Exchange (HKEX) has closed yet another consultation on dual-class shares, the latest effort to ensure the city has a place on the global stage for technology IPOs. But vehement opposition to the proposal from the institutional investor community means it must go back to the drawing board.

HPC Holdings is seeking approval for a Hong Kong IPO, having filed a draft prospectus with the city’s exchange on Tuesday.

The debt capital markets in Asia remained quiet on Wednesday, as typhoon Hato hit Hong Kong, cancelling stock trading in the morning. A single Chinese firm, Muyuan Foods Co, announced its plan to go offshore for funding in the morning.

Public sector borrowers are mainly keeping to the short end of the dollar curve this week, but at least one top tier issuer is understood to be considering a 10 year dollar benchmark in the next few weeks.

China State Construction International Holdings is going to its shareholders to raise HK$6.4bn ($812.2m) from a rights issue.

Hisense (Hong Kong) Co, a unit of electronic goods maker Hisense Co, has rolled out its maiden offshore syndicated loan with two mandated lead arrangers and bookrunners.

Hyundai Capital Services shook off North Korea-related worries to hit the bond market at the start of the week, managing to reach its goal of $900m across two tranches.

Black Peony (Group) Co is eyeing the international debt capital markets, having just received approval from its board to issue as much as $100m of foreign currency bonds.

Cofco Womai, an online food products retailer backed by the Cofco Group and Chinese internet giant Baidu, is seeking as much as $600m from a Hong Kong IPO.

The Chinese arm of Scotland-based Aberdeen Standard Investments announced the appointment of a general manager for its wholly foreign-owned enterprise, the firm said on August 22.

Lifestyle International Holdings is making a return to the dollar bond market after two years away, having mandating three banks for a roadshow in Hong Kong this week.