Northeast Asia

Gracell Biotechnologies has raised $209m from its Nasdaq IPO after increasing the size of the float and pricing the deal above the initial marketed range.

Hong Kong-listed Hansoh Pharmaceutical Group and China Hongqiao Group have added to the burst of convertible bond activity in the first week of 2021, raising a combined $900m from the equity-linked market on Thursday.

SAIC-GMAC Automotive Finance Co has sold the first auto loan ABS transaction of the year in China, printing a Rmb10bn ($1.55bn) deal this week.

Monita Chang, a senior director in Mizuho’s debt structuring and syndication team in Hong Kong, is leaving the bank, according to a source close to the situation.

The New York Stock Exchange’s flip-flop on whether to delist three Chinese telecommunications giants caused plenty of confusion in the market this week, but mainland companies are still keen to sell shares in the US. Jonathan Breen reports.

Crédit Agricole has named Victoria Land as its new head of sustainable banking for Asia Pacific.

Asia’s dollar bond market reopened this week with record issuance. Issuers are usually keen to get in ahead of the Chinese New Year holiday, but the start to 2021 has seen a rush of new primary deals like never before. Bankers said the supply will continue, although they expect it to slow down in the next few weeks. Morgan Davis reports.

The stock exchanges in Shanghai and Shenzhen have introduced new regulations to forcibly delist companies, fast-tracking the process and giving more clarity about the various scenarios that can push firms to exit the bourses. There are loopholes, however, and the true impact of the regime on China’s equities market will probably be limited, writes Addison Gong.

StanChart bolsters sustainable finance team — CreditAg names Apac sustainability head — BOC HK appoints CEO — HKEX picks interim chief — Hang Seng has new chairman

KEB Hana Bank (KHB) of South Korea has set up a covered bond programme and, given the strength of market conditions, there are high hopes that a deal will be mandated soon.

BMW Automotive Finance (China) Co and SAIC-GMAC Automotive Finance Co are edging closer to sealing their first China auto loan asset-backed securitization deals of the year.

Issuers from Greater China flooded the market with dollar deals on Tuesday, capitalising on strong appetite from investors ready to put money to work in the new year.