China Merchants Securities Co

China’s auto loan ABS market reopened strongly in May after a quiet few weeks, with SAIC-GMAC Automotive Finance Co, Volkswagen Finance (China) Co and domestic originator FAW Auto Finance Co all looking to price deals this week.

China’s Waterdrop, a health insurance and healthcare crowdfunding platform, has opened the book for an up to $360m New York Stock Exchange IPO.

Chinese health insurance and healthcare crowdfunding platform Waterdrop has kicked off pre-deal investor education for its US listing, according to a source close to the IPO.

Linklogis has priced its Hong Kong IPO above the mid-point of the price guidance, netting HK$7.96bn ($1.02bn), according to a source close to the deal.

China-based Fortune Auto Finance Co will launch a Rmb2.5bn ($381.5m) auto loan ABS transaction next week, the company’s first deal with an international rating. Meanwhile, Dongfeng Nissan Auto Finance Co is returning to the onshore market with a larger Rmb4.4bn trade.

Chinese firm Linklogis has thrown open the book for its Hong Kong IPO, aiming to pocket up to HK$8.28bn ($1.06bn).

Ford Automotive Finance (China) has wrapped up a Rmb3.203bn ($492.3m) auto loan ABS deal, its first outing in the domestic Chinese market this year. Mercedes-Benz Auto Finance is also looking to make its first appearance of 2021 next week.

Genius Auto Finance Co priced its first auto ABS outing of the year under the Generation series on Thursday. It sold the senior class A1 tranche of the Rmb4.7bn ($726.8m) transaction at a negative spread to the onshore pricing benchmark and inside a comparable trade from this week.

Toyota Motor Finance (China) Co plans to launch its first auto loan securitization deal of 2021 under the Toyota Glory series next week. The originator will open the onshore auto ABS market after the Lunar New Year break with a Rmb5bn ($774m) transaction — its largest to date.

Joinn Laboratories has sealed its HK$6.54bn ($843.8m) listing at the top of the price range, tapping into Hong Kong’s IPO market as demand hits fever pitch, according to a source familiar with the matter.

Mainland China-listed Joinn Laboratories has begun bookbuilding for its up to HK$6.54bn ($843.9m) Hong Kong IPO, becoming one of the first companies to hit the equities market following the Chinese New Year break.

Chinese property company Huafa Industrial Co Ltd Zhuhai raised $200m from the sale of a sub-one year note on Tuesday.