Northeast Asia

For the first time in eight years, China has handed out new lead underwriting licences to securities houses. While the move will help ambitious firms grab a slice of China’s Rmb102tr ($15.7tr) interbank bond market, they are unlikely to pose a big threat to the competition just yet. Addison Gong reports.

China Construction Bank has wrapped up its first onshore RMBS outing of 2021, starting the year with a relatively small Rmb5.14bn ($793m) transaction under its Jianyuan series.

Primavera Capital Acquisition Corp, a special purpose acquisition company, is set to launch a $300m IPO on the New York Stock Exchange this week, extending a recent boom in Asia-focused Spacs.

MUFG Bank (Hong Kong) has appointed Lin Li as head of global markets research for Asia.

Nomura has added more than 20 private bankers and investment advisers in Hong Kong and Singapore as part of its strategy to boost its wealth management business in Asia and globally.

Credit Suisse has boosted its investment banking operation in Japan by creating a new equity capital markets unit in the country.

Kuaishou Technology, a video-sharing and social media platform, has begun drumming up interest among investors for a multi-billion-dollar Hong Kong IPO.

Chinese companies were undeterred from selling bonds last Friday, usually a quiet day of the week for deal flow, with four borrowers raising funds.

China Fortune Land Development Co's bonds were the worst performing among Asian high yield notes last week amid rising pressure on the company’s international ratings.

Chinese e-cigarette manufacturer RLX Technology has drawn enough early demand to well oversubscribe its US IPO worth up to $1.16bn, according to a source familiar with the matter.

In this round-up, China’s coronavirus-hit economy grows 2.3% year-on-year in 2020, the securities regulator plans to introduce more bans on those who break rules in the onshore capital markets, and the vice central bank governor says Ant Group will give a timetable for the shakeup of its businesses.

Alchip Technologies, a Taiwanese semiconductor manufacturer, has raised $195.5m after increasing a placement of global depository shares (GDS).