UBS

Chinese e-commerce platform Pinduoduo has opened books for a convertible bond backed by its American Depository Shares, in what has become an increasingly popular corner of the equity-linked market.

A former director of research at CLSA has joined UBS Investment Research as a managing director, according to a note from the Swiss bank.

Axis Bank is looking to raise Rp100bn ($1.4bn) from a primary share sale to boost its capital adequacy ratio, according to sources close to the deal.

A range of Chinese issuers, including two property developers and a local government financing vehicle, have raised funds from the dollar bond market.

The Republic of Kazakhstan and the State of Montenegro have mandated for the first euro bonds from the CEEMEA region since the market re-opened in September.

Shanghai Henlius Biotech has settled its Hong Kong SAR listing at the bottom of the price guidance, mopping up HK$3.21bn ($410m) from the first post-earnings season IPO in the city.

Wells Fargo hasn't wasted time in the bond market this week. It launched a euro senior bond on Wednesday, a day after raising sterling debt. Concurrently, Spanish lender Kutxabank was marketing a senior non-preferred bond in euros, its debut in the format.

Mapletree Industrial Trust raised S$400m ($290.6m) on Tuesday, becoming the latest in a growing line of trusts to tap Singapore’s equity capital market.

Fresh from the announcement of a new stimulus package by the European Central Bank last week, investors stormed into the euro public sector bond market on Tuesday, led by KfW and Bpifrance. The latter printed €1.25bn, equaling its biggest ever single issue. The strong momentum is set to continue with a string of mandates, including two supranationals for Wednesday.

Socam Development, part of the Shui On Group, became a victim of a weak market backdrop this week, pulling a planned dollar bond after investors balked at its pricing expectations. Addison Gong reports.

Italian luxury yacht maker Ferretti has announced its intention to float on the Milan Stock Exchange, over a decade after it was taken private by private equity funds.

Banco Sabadell and ASB Finance launched senior bonds in the euro market on Monday, with the former hitting the ‘sweet spot’ of investor appetite and the latter struggling to achieve the same level of demand as its Kiwi peer ANZ New Zealand had last week.