Northeast Asia

Nomura has appointed Ding Ding to its investment banking division in Asia ex-Japan as executive director and head of healthcare for Greater China, according to a memo seen by GlobalCapital Asia.

China’s Everbright Securities Co has covered its potential HK$9.0bn ($1.2bn) IPO after the second day of bookbuilding, according to source close to the deal.

The Standard Chartered (StanChart) RMB Globalisation Index dropped further in June to a two year low of 1,933 points on the back of poor cross-border renminbi payment volumes, the bank said on August 9.

Samsung Group’s drug manufacturing arm is set to file a draft prospectus with the Korea Exchange this week for an IPO that could raise up to W3tr ($2.7bn), according to a source with direct knowledge of the matter.

Industrial Bank of Korea is poised to reach out to offshore and onshore bond investors for Basel III additional tier one capital later this year.

Standard & Poor’s has upgraded South Korea’s long-term sovereign credit rating by one notch to AA from AA- with a stable outlook, in line with Moody’s Aa2 rating of the country.

There was no sign of a summer slowdown in Asia’s bond market last week with five deals pricing in one day. But that momentum has not carried over into this week as a public holiday takes out some of the heat. But any pause is likely to be temporary, say bankers.

China’s Everbright Securities Co has cracked open books for a potential HK$9.0bn ($1.2bn) IPO — the second listing from a Chinese brokerage in 2016.

China Gas Holdings is laying the groundwork for its second Panda bond of the year having applied to the Shanghai Stock Exchange for an issuance quota not exceeding Rmb7bn ($1.05bn). But unlike its debut in the asset class at the start of the year, the issuer will be targeting a wider investor base through a public offering.

DBS’ head of treasury and markets says there is room for the renminbi to appreciate in the short term. While the longer-term trend is for the currency to fall, the bank’s forecast for USD/CNY remains more upbeat than the market consensus.

Everbright Securities has signed up eight cornerstone investors for the bulk of its HK$9.02bn ($1.16bn) IPO in Hong Kong, with high profile names such as China Life and Prudential in the fray, said sources.

Aluminum Corporation of China (Chalco) has registered plans to sell a new foreign currency bond with the National Development and Reform Commission