United States

Chinese e-commerce giant Pinduoduo has kicked off a multi-billion-dollar equity fundraising exercise, taking advantage of a sharp rally in its share price this year to aim for as much as $4.85bn.

Chinese beauty company Yatsen Holding has set its New York Stock Exchange IPO in motion, kicking off bookbuilding for a $616.9m listing.

This week in Keeping Tabs: what a Biden administration means, the people behind the BioNTech vaccine, the link between commercial property and bank equity, and a proposal for dealing with debts in poor countries.

Convertible bond issuance in the Americas is poised to top $100bn in 2020 as the year enters its final straight and companies look to use the momentum of Joe Biden’s victory in the presidential election and the prospect of a working Covid-19 vaccine on the near horizon to raise capital.

A Joe Biden White House offers an opportunity for international and regional multilateral financial institutions to lobby for extra financing to deliver essential assistance to countries hit by Covid-19, according to experts.

Bristol-Myers Squibb and Verizon took advantage of surging demand for high grade corporate bonds this week to print multi-billion dollar trades to fund mergers and acquisitions and future investment.

Many have heard of Frost/Nixon, a great play — and later a film — based on the real interviews David Frost did with US president Richard Nixon after his impeachment and resignation. But here's a 1987 BBC interview by David Frost with Joe Biden, before his first tilt at the presidency.

Singapore-based special purpose acquisition company (Spac) Tiga Acquisition Corp has set in motion a $200m listing on the New York Stock Exchange.

Waste Management was the first issuer to tap the dollar bond market after Tuesday's US presidential election, taking the plunge as vote counting continued and Joe Biden edged towards victory.

Capital markets bankers are preparing to restart issuance next week to take advantage of a rally should Joe Biden be confirmed as president-elect of the US by the end of this week, write Sam Kerr, Tyler Davies, Oliver West, Mariam Meskin, Michael Turner and Lewis McLellan

Few readers of this column will have been able to avoid the temptation this week to continually hit refresh, hoping for a morsel of news on the US election. Whether you’re red, blue or polka-dot, the zig and zag of the election results has been compelling theatre.

China’s decision to clamp down on Ant Group has derailed an IPO of at least $34bn, despite execution being finished last week. The move appears to be little more than political muscle-flexing by Beijing. The real winners will be the country’s critics.