Southeast Asia

ING has scooped a Deutsche Bank veteran to lead its corporate finance and client coverage divisions in Asia.

Philippines-listed DoubleDragon Properties Corp is gearing up to launch a re-IPO worth Ps7.5bn ($145.6m), aiming the deal firmly at international investors.

United Overseas Bank is making its first foray into the dollar tier one market in more than decade, after approaching investors with an AT1 bond on Wednesday.

Leong Hup International is planning a Malaysia listing that could raise as much as MR2bn ($474m). The company is still firming up the syndicate, according to sources close to the matter.

Malaysian conglomerate Genting Group is looking to add to its inaugural bond sale from earlier this year.

The lead banks on Keppel-KBS US Reit plan to kick off pre-deal investor education for the $500m Singapore IPO towards the second half of this week.

Asian investors have piled into Qudian’s IPO on the New York Stock Exchange, with the $825m fundraising heavily oversubscribed even before it begins roadshows in the US, said bankers.

Mapletree Logistics Trust has raised S$286.5m ($209.98m) through a preferential offering of shares, part of a dual-pronged equity fund raising plan, according to a Singapore Exchange filing.

Sea, the e-sports giant formerly known as Garena, opened the books for its $695.8m US IPO on Monday, after adding a group of southeast Asian banks as underwriters.

Banks that committed to a $250m loan for Saka Energi Indonesia, the upstream oil and gas arm of Indonesian state-owned Perusahaan Gas Negara, can expect to be scaled back after $285m of pledges came in by the end of general syndication.

The Lao People’s Democratic Republic, through the Ministry of Finance, raised Bt14bn ($420m) this week from a six-tranche bond in Thailand — its largest ever print. The sovereign also managed to push out its curve to an unprecedented 15 years, leveraging on Thai investors’ familiarity with its credit.

The People’s Bank of China sticks to its neutral monetary policy, China Securities Regulatory Commission (CSRC) says it wants to build first class investment banks in the domestic market, and FTSE Russell refrains from reclassifying the Chinese A-share market as a secondary emerging market.