UBS

Two block trades have gone well tonight, as GlaxoSmithKline has sold half its 12.4% stake in Johannesburg-listed Aspen Pharmacare, while private equity funds have sold the last chunk of ISS, the Danish cleaning firm.

Shanghai-listed Fuyao Glass started premarketing its $900m IPO in Hong Kong on Tuesday, March 10, with bankers touting its size and scale as one of the world’s largest manufacturers of automotive glass.

Hospital operator Mitra Keluarga Karyasehat has priced Indonesia’s largest IPO since 2011, raising Rph4.45tr ($338m) in a deal that investors piled into.

Shimao Property Holdings has returned to the dollar market with a $300m tap of its $800m 2022s. As with the original deal, the new trade saw a huge order book and the issuer ended up giving what bankers agreed was the lowest new issue concession from a Chinese property developer in 2015.

Market orthodoxy is that UBS made an astute move by cutting back its investment bank in 2012, and that Credit Suisse’s hiring of Tidjane Thiam is a prelude to it doing the same. But how true is that – and should Thiam sharpen his axe?

Dutch insurer NN group is set to continue a busy run for senior issuance on Wednesday, mandating banks on Tuesday for its debut senior unsecured print.

Shanghai-listed Fuyao Glass started premarketing its $900m IPO in Hong Kong on Tuesday, with bankers touting its size and scale as one of the world’s largest manufacturers of automotive glass.

UBS has appointed Karen Chen to head its wealth management and interbank business arm in China. The Swiss bank has given her the role of president of UBS (China) Ltd after getting the approval of the China Banking Regulatory Commission (CBRC).

Mitra Keluarga Karyasehat has priced Indonesia’s largest IPO since 2011, raising Rph4.45tr ($338m) in a deal that saw investors pile in to get their hands on the hospital operator’s stock.

Filipino lender Metropolitan Bank will raise Ps32bn ($727.98m) in its largest follow-on with a rights issue to be launched later this month.

Just one month on from pricing the year’s first bond from a Chinese developer, Shimao Property Holdings has returned to tap its 2022s for up to $300m, encouraged by the bonds strong secondary market trading.

DFS Furniture had its first day of trading on the London Stock Exchange today, after pricing its £206m IPO, multiple times covered, on Friday.