Ping An Securities

This round-up focuses on the Chinese securities house being penalised for its work on Leshi’s IPO more than a decade ago

Ping An Insurance-backed Lufax Holdings is expected to price its American depositary shares at the top of guidance, following a large turnout from global heavyweight investors for its IPO.

Ping An Insurance-backed Lufax Holdings has covered its $2.36bn US listing. Global heavyweight investors flocked to the long-awaited deal.

Lufax Holdings, a personal finance services platform, has opened books for its offering of American depositary shares (ADS). It is aiming to raise up to $2.36bn.

Excellence Commercial Property and Facilities Management Group has closed its IPO early on the back of strong investor demand. It is looking to price its deal at the top of the range, according to a source close to the listing.

Chinese peer-to-peer lender Lufax Holding filed IPO paperwork in the US on Wednesday for what is expected to be a jumbo listing.

Ping An Healthcare and Technology Co has raised HK$7.86bn ($1.01bn) after a primary share sale which drew strong demand from its existing investors, said a source familiar with the matter.

Seven borrowers from Greater China raised about $2bn from new dollar bonds on Monday, while Hong Kong's Cathay Pacific tapped the Singapore dollar market.

OneConnect Financial Technology Co, a unit of Chinese conglomerate Ping An Group, reduced the size and price range of its New York Stock Exchange listing on Wednesday, a day before it was to be priced.

OneConnect Financial Technology, a unit of Chinese conglomerate Ping An Group, hit the road on Tuesday to meet investors for its New York Stock Exchange IPO.

OneConnect Financial Technology, an arm of Chinese financial conglomerate Ping An Group, has set the ball rolling for an up to $100m US IPO, having previously sought to list in Hong Kong.

Fosun International, China Grand Automotive Services and China Molybdenum Co rushed out to the offshore bond market on Monday, helping kick-start a rush of issuance before Chinese New Year.

Ping An Real Estate, a unit of Ping An Group, is returning to the loan market for an up to $300m borrowing after a two-year absence.

China’s Haitong Securities priced a dual-currency transaction on Thursday, heading to the euro market for cheaper funding. Another issuer, Peking University Founder Group, was looking to price an up to €100m deal on Friday.

Chinese property developer Gemdale Corp priced a $150m bond on Thursday, but told investors not to put in any orders after price guidance was released — a move that surprised many debt bankers.

Three Chinese local government financing vehicles (LGFVs) priced dollar bonds this week, despite a recent default in the onshore debt market.

The debate over whether Shanghai Lingang Economic Development (Group) Co and Zhuhai Huafa Group Co are pure-play local government financing vehicles or Chinese state-owned enterprises took centre stage during their dollar bond outings on Tuesday.

Signs of a revival in primary bond market activity were evident on Tuesday when four Asian issuers ventured out for new dollar transactions, setting the stage for what is set to be a busy September.

Chinese bond issuers were the first out of the gate on Thursday, vying for investors’ attention after public holidays in many parts of Asia shut markets on Wednesday.

A handful of Chinese investment grade rated state-owned companies are gauging investor appetite for new deals amid a weak market backdrop.

Ping An Healthcare and Technology priced its HK$8.8bn ($1.1bn) IPO at the top of guidance after a flood of demand from local and international investors.

Chinese property developer Country Garden Holdings was forced to pull a Rmb1.8bn ($281.2m) three year Panda bond this week after investors demanded a better return amid rising volatility, writes Noah Sin.

Onshore investors forced red chip issuer Country Garden Holdings to pull a Rmb1.8bn ($281.2m) three year bond on Tuesday. It would have been the real estate company’s first deal in the Panda market since September 2016.

Property developer Country Garden Holdings is planning a return to the Panda bond market on Friday, after approaching onshore investors with a Rmb1.8bn ($279.8m) three year bond. It will be the first time the company has sold a Panda in the interbank bond market.