Northeast Asia

The nascent transition bond market is set to get a boost after Bank of China announced plans for a new deal in both dollars and offshore renminbi.

A group of shareholders in Doosan Fuel Cell, a subsidiary of Korean conglomerate Doosan Group, raised W274.35bn ($253m) from a clean-up trade in the company’s stock on Tuesday night.

Chinese toll road operator Zhejiang Expressway kick-started Asia's equity-linked market this week, dipping into euros for the year’s first convertible bond. It plans to use all the proceeds to repay debt.

Dollar bond issuance from Chinese property companies went up a notch on Tuesday with seven firms printing deals. On Monday, the first working day of the New Year in the region, four Mainland developers had wooed investors.

Shangri-La Asia, the investment holding company of hotel operator Shangri-La Group, has hired two banks to lead a Rmb1bn ($155m) Panda bond, its first in the currency.

The New York Stock Exchange has dropped plans to delist the stocks of China Mobile, China Telecom Corp and China Unicom (Hong Kong).

The stock exchanges in Shanghai and Shenzhen have heeded increasing calls from the market for a revision to their delisting rules by introducing tougher measures and a faster process to remove companies from their bourse.

Chinese clinical-stage company Gracell Biotechnologies has kicked off the roadshow for its Nasdaq listing, eyeing up to $158.9m in proceeds.

Hong Kong’s block market surged back to life on Monday night with a flurry of share sales worth a total of HK$14.19bn ($1.83bn).

Chinese property borrowers reopened Asia’s primary dollar bond market on Monday, with four issuers raising nearly $2bn between them following solid demand from investors.

Far East Horizon, a Hong Kong-listed leasing company, has made a quick return to the loan market for a $1bn-equivalent three year borrowing, less than five months after sealing a larger facility.

Mexico reopened the international bond market for EM borrowers on Monday by issuing the first Formosa bond from a Latin American sovereign in response to interest from Asian investors.