Singapore

Luye Medical, the healthcare services arm of Luye Life Sciences Group, has enlisted three banks to lead its IPO of about $500m in Singapore.

Bangladeshi independent power producer (IPP) Summit Power has launched investor education ahead of its ground-breaking Singapore IPO, according to a banker close to the deal.

Overseas Chinese Banking Corporation (OCBC) had adequate demand to print a €500m five year covered bond on Thursday, and though it was unable to reach the upper end of its size ambitions, it was able to issue the tightest Singaporean covered bond in euros.

MUFG Securities Asia has named Royal Bank of Scotland veteran Pierre Ferland as its new chief executive.

The pipeline for equity capital raisings out of Southeast Asia is filling up nicely, with issuers from the Philippines, Vietnam, Bangladesh and Singapore looking to launch deals.

United Overseas Bank issued its debut covered bond in sterling on Wednesday, and the first from a Singaporean bank. Despite being its maiden deal, UOB was able to match the spread of more established sterling issuers. At the same time, Overseas Chinese Banking Corporation (OCBC) has mandated for a euro covered bond benchmark.

Singapore Exchange on Monday revealed that it would replace its Nifty products with suitable successors by August to ensure that investors could maintain exposure to Indian markets.

United Overseas Bank has mandated joint leads for a covered bond roadshow in the UK with a view to potentially issuing its sterling debut. Singapore peer DBS Bank undertook a roadshow in the UK two years ago but did not follow up with a deal.

Singapore is set to host its first IPO from Bangladesh, with Summit Power looking to hit screens in early March, said bankers close to the deal.

A group of employees from Vincom Retail have raised Dong 4.51tr ($197.5m) after they sold a block of the company’s shares, upsizing the offer on the back of strong institutional demand.

The mayhem reverberating through global equity markets pushed shares of Ascendas India Trust down to a new 52-week low, after the firm raised S$100m ($76m) from an overnight placement.

Singapore and Malaysia's market watchdogs are setting up an equity trading link between their bourses. They are planning to go live by the end of the year.