UBS

A trio of Asian firms listing in the US have received stellar responses to their IPOs, with Qudian, Rise Education and Sea all getting the thumbs-up from investors.

Empark, Vallourec and Dufry met strong demand for their new high yield bonds this week as investors opened their deep pockets.

After a successful two week investor education process, Bawag, the Austrian bank, has unveiled the terms for its IPO on the Vienna Stock Exchange, which could value it at up to €5.2bn if it is priced at the top of the range.

Commonwealth Bank of Australia (CBA) this week raised Sf450m ($462.1m) from the Swiss franc bond market in the largest single tranche Swissie bond by an Australian financial since 2009. The borrower took advantage of the downgrade of a clutch of regular Swiss franc issuers to sell its trade.

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.

Reliance General Insurance Co has become the latest Indian insurer to announce plans to list, having filed a prospectus amid a stream of IPOs from the sector.

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.

J2 Acquisition Ltd, the latest cash shell vehicle of Martin Franklin, completed its London IPO on Thursday, raising $1.25bn for acquisitions in unspecified countries and sectors.

One of the most widely anticipated IPOs in the EMEA region got going on Thursday when EN+ Group, the Russian power and metals business controlled by Oleg Deripaska, said it would sell up to $1.5bn worth of global depositary receipts in London and Moscow in November.

After a year-long barrage of regulatory intervention, Chinese corporates are re-emerging on the international deal making scene, and this time they are here to stay, writes David Rothnie.

India's Apollo Tyres hit the market with a qualified institutional placement on Tuesday, aiming to add up to Rp15bn ($229.6m) to its coffers.

Chinese micro-lender Qudian has launched bookbuilding for its IPO on the New York Stock Exchange, which could raise up to $825m, according to a banker close to the deal.