UBS

China-based Mobvista plans to launch its Hong Kong IPO on Thursday, halving the target size to $200m-equivalent, according to a source close to the situation.

Private equity firms Bain Capital and Cinven are financing their purchase of a further 28.3% stake in Stada Arzneimittel, the German pharmaceutical group, in the euro leveraged finance markets this week, and are having to contend with investors who are in a risk-averse mood.

Babytree Group and Tongcheng-Elong Holdings both got their Hong Kong IPOs past the finish line this week, as equity markets globally continue to get battered by volatility.

Chinese online educator Koolearn Technology Holding has launched pre-marketing for its Hong Kong IPO at a time when the mainland government is stepping up regulation of the private education sector.

Spreads on Chinese property dollar bonds felt the impact of heavy supply on Monday when three companies, Times China Holdings, Greenland Holding Group and China Evergrande Group, brought new issues to the market.

Gunvor, the Swiss energy and commodities trading company, has signed a $1.68bn revolving credit facility, having increased it during syndication as lenders piled into the transaction.

UBS Group bagged S$700m ($509m) from a Basel III compliant additional tier one deal, adding to a growing list of European lenders that have turned to the Singapore dollar bond market to boost their capital.

Shanghai-listed WuXi AppTec has launched pre-marketing for its Hong Kong IPO, which is expected to hit the market by the end of the month, according to a banker close to the deal.

A flurry of Asian bond issuers have ventured out in a bid to wrap up deals ahead of the Thanksgiving holiday in the US on Thursday, even as markets remain on shaky ground.

Property developer Agile Group Holdings raised $400m from a two year bond at a generous level on Thursday. But the Chinese company is still faced with heavy near-term debt maturities.

Ice Group, a Norwegian provider of wireless telecommunications, has begun pre-marketing for an IPO on the main board of the Oslo Stock Exchange.

Hong Kong IPO hopefuls Babytree Group and Tongcheng-Elong Holdings announced deals drastically smaller than their initial targets this week. But despite the clear sign of trouble in the market, a few more Chinese companies are considering pushing ahead with their own listings before the end of the month. Jonathan Breen reports.