UBS

Ping An Healthcare and Technology has kicked off a highly-anticipated HK$8.8bn ($1.1bn) IPO, set to be one of Hong Kong’s biggest from the new economy sector this year.

CEVA Logistics, the Swiss freight management and contract logistics company, has set the range on its IPO, valuing it at Sfr1.5bn to Sfr1.8bn. It has also secured a cornerstone investment from shipping company CMA-CGM.

Swiss franc bond market players are conflicted about the substantial slide in the Swiss franc, which has lost about 3.5% of its value against both the euro and dollar in the past two months.

Controls have been tightened after the high-profile losses that banks took on margin loans when retail conglomerate Steinhoff ran into trouble late last year. But strategic equity solutions businesses remain central to equity capital markets, writes David Rothnie.

Bank of America Merrill Lynch, Credit Suisse, Nomura and UBS have made senior changes in their equity capital markets and syndicate teams in Asia.

Weir Group, the UK energy and mining equipment maker, is to acquire US-based industrial component manufacturer Esco Corp, and has raised £363m in gross proceeds, through an accelerated sale of new shares to finance the cash component of the $1.05bn acquisition.

The EMEA IPO market is fully underway again after the Easter break, with bankers fresh from the Courchevel ski slopes or St Tropez sunbeds to provide investors with some fresh IPO powder. But high volumes means buyers have the ability to be selective.

Kazmunaygas’ (KMG) $3.25bn bond on Tuesday proved to be a beneficiary of the latest round of US sanctions against Russia sanctions, as investors sought a new oil play away from the volatility surrounding assets from the proscribed state.

Kazakhstan’s national oil company Kazmunaygas, rated Baa3/BB-/BBB-, has released initial price guidance for its dollar senior unsecured triple tranche 2025, 2030 and 2048 issue.

Hanwha Life Insurance Co became the latest South Korean name to raise funds from the dollar bond market on Monday, as the country’s insurance firms prepare to adhere to new capital standards.

A shareholder of Hong Kong-listed Far East Horizon raked in HK$1.8bn ($231.5m) from an overnight placement in which one investor bid for the entire trade.

UBS was warmly received for a new senior deal from its operating company on Monday, as credit markets showed a bit of resilience following a period of heightened volatility.