UBS

Shandong Weigao Orthopaedic Device Company has put its $300m IPO in Hong Kong on hold after Morgan Stanley, one its joint sponsors, allegedly dropped out as a lead banker, potentially delaying the listing by at least a few weeks.

Spie, the French electrical, telecoms and technical services group, has made a successful start to its life as a public company, with an IPO increased to €939.1m and a good start to trading.

Permira Debt Managers has hired David Hirschmann as head of private credit for its direct lending fund.

UBS has hired Brian Smith as country head for South Africa and head of investment banking for sub-Saharan Africa.

Legend Holdings, the conglomerate that owns Lenovo, has started testing investor demand for its $2bn IPO in Hong Kong, with the high-profile trade attracting a beeline of investors interested to come on board as cornerstones.

UBS has made two senior appointments to boost its China operations. Eugene Qian to take over as head of its country operations in China. Qian, while Di He has been named as chairman of the bank’s securities arm in China.

Sivantos, the renamed spinoff of Siemens Audiology Solutions, has launched a repricing of a €785m leveraged loan backing its buyout by EQT, which closed last December.

Muenchener Hypothekenbank returned to covered bonds for the second time this year to fill out its curve with an eight year deal. The bond size was increased following strong demand, partly driven by the recent rise in Bund yields.

Dell, the US personal computer maker, has closed books on a loan repricing and will increase the deal, although investors put the brakes on a full repricing.

Dufry, the Swiss duty free shop chain, will on June 11 start building the book for the Sfr2.2bn ($2.4bn) rights issue it signalled in March, as part of the financing for its €3.6bn takeover of World Duty Free.

Santander UK’s debut additional tier one (AT1) impressed on Wednesday, drawing £5bn of demand and lending confidence to a string of issuers looking to print before the summer amid tricky conditions.

Europe’s sunshine state may be about to default for the second time, but equity capital markets are fizzing with activity, and indices only a fraction off their post-crisis highs.