UBS

BAIC Motor has raised HK$11.04bn ($1.42bn) after pricing its IPO — one of the last billion-dollar listings for Hong Kong in 2014 — just above the midpoint of guidance.

Permira today resumed its gradual exit from Hugo Boss, as it sold 4.9m shares in the company for a total of €500m, in what could be one of the last large accelerated bookbuilds in Europe this year.

China Orient Asset Management opened books for a tap to a five and 10 year dual trancher late last week. But it decided not to price the longer bond as it was content with the strong reception for the five year.

UBS has appointed Alison Harding-Jones as its Asia Pacific head of M&A advisory, according to an internal memo seen by GlobalCapital Asia.

Fiat Chrysler Automobiles raised $3.46bn on Wednesday, when it priced its $2.5bn mandatory convertible bond and $957m share offering, designed to strengthen its balance sheet and gain a new investor base in the US.

Insurance capital is finding unexpected favour even as most other European debt markets are stopped in their tracks. With insurers rushing to take in fresh subordinated debt ahead of new EU regulations next month, and investors increasingly receptive to higher yielding instruments from a less volatile sector than banks, more than €2.3bn ($2.85bn) of deals emerged this week. And as Nathan Collins and Graham Bippart report, more could emerge in the coming days.

Croatian food retailer Agrokor has mandated banks for a Euro-commercial paper (ECP) deal and is hoping to price it next week before the markets close for Christmas.

While Dalian Wanda and Linekong are hoping for success with their IPOs, M800 has a different story to tell. It was looking to close an up to $150m IPO in Hong Kong before the end of the year, but has postponed the deal to avoid going up against Dalian and BAIC Motor, which wrapped up its IPO this week.

The Hong Kong IPO market was off to a busy week, with Dalian Wanda Commercial Properties and Linekong Interactive rushing to complete chunky deals before the markets break for Christmas. But the flood of activity also left one victim in its wake, as M800 chose to delay bookbuilding until January rather than compete with its rivals for investor attention.

China Orient Asset Management has opened books for a tap to a dual trancher it issued in August, when the borrower made a stellar return to dollars with the five and 10 year issue.

Nirvana Asia has priced its Hong Kong IPO at the bottom of the price range to raise HK$2.02bn ($261m), with retail investors coming in huge numbers and forcing the funeral services company to trigger the second level of clawback.

Croatian food retailer Agrokor has mandated banks for a euro commercial paper (ECP) deal and is hoping to price it next week before the markets close for Christmas.