United States

Indian renewable energy company ReNew Power is planning to list on the Nasdaq in the US through an $8bn merger with a special purpose acquisition company (Spac).

L Catterton Asia Acquisition Corp, a special purpose acquisition company (Spac), is planning a $250m IPO, according to a filing with the US regulator.

HSBC has shifted responsibility for its regional businesses and given chief financial officer Ewen Stevenson a broader remit, ahead of updating investors with results on Tuesday and amid its overhaul of operations.

This week in Keeping Tabs: how to transition the US economy off fossil fuels.

US corporate bond bankers have shrugged off concerns that the steepening of the US Treasury curve could spell problems for credit, after the 10 year yield closed at 1.29% on Wednesday and the 30 year broke though 2%.

South Korean e-commerce firm Coupang is set for a multi-billion-dollar New York IPO — the first US listing from the country for a decade. The deal structure could appeal to other Korean start-ups, bankers said this week. Jonathan Breen reports.

It is the year of the ox in China and for equity investors 2021 is the year of the bull. Stock buyers continue to be optimists despite the economic ravages of the Covid-19 pandemic and are convinced that the spread of vaccinations across the globe will soon kick-off a festival of consumer spending.

Coupang, an e-commerce company, is planning a $1bn IPO in the US as it gets ready to become the first South Korean firm to list in New York in 10 years.

This week in Keeping Tabs: an opportunity for the UK's finance sector after Brexit, and an argument for why you shouldn't worry about the stock market.

UK biotech firms are continuing to reap the benefits from US listings. On Tuesday Autolus Therapeutics, an early stage biopharma firm backed by Syncona Investments, became the latest UK Biotech firm to raise capital on the US Nasdaq in a $100m transaction. The deal shows the continued advantages for early stage European biotech firms in having a US listing.

A blank cheque company fronted by Andrea Pignataro, the founder and executive chairman of trading software and financial data group ION, has listed on the Nasdaq, raising $300m.

Chinese cloud-based communications provider Cloopen Group Holdings saw its stock price triple on the first day of trading, after sealing a $320m IPO above the marketed range.