Singapore

Keppel-KBS US Real Estate Investment Trust raised $448m in Singapore’s second IPO of a pure play US Reit, after demand from private banking accounts helped it get over the finish line.

China Eastern Airlines Corp has named banks to lead its first Singapore dollar bond, with a roadshow being held next week.

BNP Paribas is shaking up its equity-linked unit in Asia with the transfer of a senior banker to Singapore and a new hire, sources close to the matter said.

Hong Kong property developer CNQC International Holdings pulled off a S$100m ($73.4m) bond sale on Tuesday, following a booming first half of the year for the company.

CNQC International Holdings, a Hong Kong-based property developer and contractor, has opened the order book for a Singapore dollar bond. The company is approaching investors after bumper first-half profits.

Razer started taking orders on Monday for a Hong Kong IPO that could be worth as much as HK$4.3bn ($545.0m). About a third of the book has already been covered by cornerstone investors, even though some bankers think the valuation looks stretched.

AVIC International Leasing Co, the leasing arm of China’s state-owned aircraft manufacturer Aviation Industry Corporation of China, will kick off a Reg S roadshow from Tuesday. CNQC International Holdings, meanwhile, is meeting accounts in Singapore for a bond in the local currency.

Singapore’s Reit issuers had a busy week, with Keppel-KBS US Real Estate Investment Trust off to a good start on its $448m IPO and Mapletree Industrial Trust raising S$155.7m ($114.5m) from an overnight placement.

Keppel-KBS US Real Estate Investment Trust has started bookbuilding for its $448m IPO in Singapore, the city-state’s second Reit listing backed by US assets.

Singapore-listed Mapletree Industrial Trust bagged S$155.7m ($114.5m) in an overnight primary capital raise that was priced at the top of expectations and reached full size.

CapitaLand Commercial Trust (CCT) has raised S$700m ($514.7m) from a rights issue after a flood of excess applications pushed the deal to nearly twice subscribed.

Sea can lay claim to being one of this year’s most well-participated IPOs by an Asian issuer, after more than 500 investors piled into its New York Stock Exchange flotation.