Northeast Asia

Thai Union Group, a seafood producer, has raised its first sustainability-linked loan of Bt12bn ($401m)-equivalent from the Thai and Japanese markets.

Mainland China-listed Joinn Laboratories has begun bookbuilding for its up to HK$6.54bn ($843.9m) Hong Kong IPO, becoming one of the first companies to hit the equities market following the Chinese New Year break.

Six Chinese companies sold Rmb6.4bn ($994m) of ‘carbon neutrality bonds’ this week, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060. The format could lead to a spike in international investor interest in China’s debt market. Addison Gong reports.

Hong Kong’s Securities and Futures Commission (SFC) is planning to bring in sweeping changes to rules governing equity and bond deals, requiring syndicate teams to be fixed earlier and fee structures to be disclosed. The moves have divided bankers. Jonathan Breen and Morgan Davis report.

New Horizon Health, a medical device manufacturer, has scooped up HK$2.04bn ($263.4m) from its IPO after strong institutional investor demand pushed pricing up to the top of the marketed range.

Nominative determinism has come up in Taipan before. But not everyone can love thy fate.

Chinese cloud-based communications provider Cloopen Group Holdings saw its stock price triple on the first day of trading, after sealing a $320m IPO above the marketed range.

Chinese bond investors welcomed the issuance of new ‘carbon neutrality bonds’ this week. Six companies raised a combined Rmb6.4bn ($994m) in the format, supporting Beijing’s goal of net zero carbon dioxide emissions by 2060.

Chinese property company Huafa Industrial Co Ltd Zhuhai raised $200m from the sale of a sub-one year note on Tuesday.

China Taiping Insurance Group Co has raised a HK$8.7bn ($1.12bn) loan to refinance debt taken for the acquisition of an office building in Hong Kong.

Baidu has become the latest technology company from China to tap the loan market, breaking a four-year absence from syndication for a $3bn transaction. The company wants to take advantage of the growing popularity of tech deals among bank lenders. Pan Yue reports.

Hong Kong’s stock exchange operator has named Nicolas Aguzin, chief executive of JP Morgan’s international private bank, as its new CEO.