China Merchants Securities Co

Beijing Capital Grand closed a successful $400m floating rate bond on Thursday, after waiting weeks for a market window. But the transaction fell flat in the secondary market after a bookrunner’s withdrawal from the trade spooked investors.

Telecommunications infrastructure giant China Tower found huge demand for its multi-billion-dollar IPO this week as it kicked off bookbuilding in Hong Kong. The deal is a counter-balance to a flood of technology listings in the market this year. Jonathan Breen reports.

Ascletis Pharma priced its Hong Kong IPO in the middle of expectations on Wednesday, raising HK$3.1bn ($400m) from the city’s inaugural biotechnology offering.

Hope Education Group’s Hong Kong IPO has been swamped by investors, with the HK$3.2bn ($408m) fundraising covered across the price range by Tuesday evening.

Dongfeng Nissan Auto Finance enjoyed strong support from its traditional investor base — Chinese banks and onshore arms of Japanese banks — as it sold a Rmb4.5bn ($665.7m) securitization on July 19. The deal came as looser onshore liquidity gave banks more cash to buy ABS papers.

Hope Education Group launched its Hong Kong IPO on Monday. The company is hoping to raise up to HK$3.2bn ($408m), with one cornerstone investor already in the bag.

Mainland telecommunications infrastructure giant China Tower hit the road on Monday to start drumming up interest in its HK$68.1bn ($8.7bn) IPO, according to a senior banker on the deal.

Ascletis Pharma is in the market with the first biotechnology IPO in Hong Kong following the bourse’s historic change in listing rules.

Chinese firm Ascletis Pharma has launched bookbuilding for a HK$3.58bn ($456.9m) IPO, the first company to take advantage of the Hong Kong Stock Exchange’s new biotechnology-friendly listing regime.

Onshore DCM bankers are having a busy week in the Panda bond market. Two returning issuers have lined up onshore transactions this week, as they seek to profit from looser liquidity and falling yields in China.

Hope Education Group began pre-marketing for its $400m Hong Kong float on Monday, the latest in a long line of IPOs from the education sector.

Dongfeng Nissan Auto Finance is selling a Rmb4.5bn ($674.4m) ABS deal next week — the first by a foreign originator in the second half. Sources say the originator has been afforded a nice window to issue given the looser onshore liquidity, but it will enjoy less flexibility around the structure of the deal.