China International Capital Corp

Mainland firm Changsha Broad Homes Industrial Group has set the ball rolling for a Hong Kong IPO, submitting a draft prospectus to the bourse.

The party in Chinese high yield real estate bonds continued this week, with China Aoyuan Group, Zhenro Properties and Yuzhou Properties taking home $1.15bn between them on Tuesday.

China’s Bank of Communications Financial Leasing Co managed to raise the upper end of its $1.5bn target size at a tighter-than-expected level on Tuesday, a feat achieved despite a busy bond market in Asia.

Tencent Holdings-backed Weimob raised HK$845m ($107.8m) after pricing its IPO at the bottom of the indicative range on Thursday, a bit behind the original schedule, according to a banker close to the deal.

Chengdu Expressway Co’s HK$880m ($112.3m) IPO has marked the start of a quiet week for the Hong Kong equity capital markets.

Considerably cheap valuations have made Weimob, a Tencent Holdings-backed company that is on the road with its Hong Kong IPO, an attractive proposition for equity investors, according to a source close to the listing.

CIMC Vehicles Co is eyeing $500m from a Hong Kong IPO, with plans to launch the listing by the end of the first quarter, according to a source close to the deal.

Wuhan Financial Holdings Group Co made its dollar market debut on Monday, raising $142m from a three year club-style deal.

Shanghai Henlius Biotech has joined a growing pipeline of biotechnology firms planning to float in Hong Kong. It wants to list in the first quarter of 2019, said a banker working on the transaction.

Shanghai Junshi Biosciences has raised HK$3.08bn ($394.2m) after pricing its IPO at the bottom of the range, according to a banker on the deal.

AviChina Industry & Technology Company is seeking the greenlight for an H-share placement of up to HK$1.37bn ($175m), partly in a bid to broaden the shareholder base of the company.

Tencent Music Entertainment Group (TME) gave investors a year-end treat this week with 2018’s last billion-dollar IPO from an Asian issuer. It was paid back with a near 8% jump in its stock price on the first day of trading. But to succeed the firm had to cut its fundraising target and get realistic on pricing. Jonathan Breen reports.