Northeast Asia

US-listed Chinese companies have raised more than $12bn from equity investors in the past month, with iQiyi becoming the latest to simultaneously sell a convertible bond and price a follow-on offering of its American depositary shares. With valuations soaring for many of these stocks, bankers expect more issuers to jump into the market in 2021, writes Jonathan Breen.

Xinyi Solar Holdings has raised HK$3.9bn ($503.1m) after more than doubling the size of an overnight placement of primary shares.

Well, dear readers, who could have guessed what this year would bring?

Shandong Ruyi Technology Group Co’s dollar bonds fell to a new low this week after it defaulted on two onshore trades, adding to a spate of missed payments from Chinese companies recently.

Chinese streaming platform iQiyi has kicked off a combined convertible bond and follow-on offering that could raise around $1.7bn.

Gaming company Wynn Macau benefitted from a revival in sentiment around the casino industry for its bond return on Tuesday. It raised $750m from a tap of its 5.625% 2028 notes.

U Life Services Group, a Chinese property manager, is looking to Hong Kong’s bourse for fresh capital to fund expansion.

Small appliance retailer Vesync has bagged HK$1.55bn ($200m) from its Hong Kong IPO, pricing the deal at the top of the guidance range.

Neel Laungani has rejoined Credit Suisse in a senior position in the Asia Pacific investment banking and capital markets (IBCM) team.

HSBC's investment banking coverage team in Hong Kong will begin 2021 with some personnel changes.

Chinese healthcare technology company Yidu Tech is set to begin drumming up demand for its Hong Kong IPO after winning listing approval from the city’s bourse.

Chinese furniture maker Huisen Household International Group has kicked off its IPO. It has set its sights on raising up to HK$1.4bn ($180m).