CIMB Group

Malaysia’s CIMB Bank sealed a $1bn dual tranche deal on Wednesday, enticing investors with its rarity and a floating rate option, against a strained market backdrop ahead of the US Federal Reserve meeting.

The heat is on for IPOs in south-east Asia, with banks staging charm offensives towards investors during pre-marketing.

Malaysia’s Eco World International will finally open books on its MR2.5bn ($561m) IPO next month after getting two domestic funds on board as cornerstone investors.

CIMB has lost its head of ECM in India, according to sources close to the move.

Malaysia’s first IPO of size this year priced comfortably at the top of indications, raising MR584.1m ($130.5m) for Serba Dinamik Holdings.

TPG Stallion Holdings raised HK$542.7m ($70.0m) after offloading a chunk of its stock in Chinese firm Li Ning Co this week, while Malaysia’s Federal Land Development Authority (FELDA) sold a block of Maybank shares for MR281.7m ($63.3m).

Malaysia’s Federal Land Development Authority (FELDA) has bagged MR281.7m ($63.1m) after offloading a chunk of its shares in Maybank, according to a source close to the deal.

ANZ and CIMB have both revealed plans to sell their respective stakes in Shanghai Rural Commercial Bank (SRCB) and Bank of Yingkou, as part of strategies to focus on their core businesses.

ECM activity in Asia has slowed to a trickle in the week before Christmas, but investors still have something to chew on courtesy of two real estate investment trusts in southeast Asia.

Malaysia’s MRCB-Quill Reit has raised MR487.9m ($110.1m) from a follow-on placement, executed during lunchtime on Thursday.

Malaysia's MRCB-Quill Reit is out with a placement of up to MR487.9m ($110.1m), which will close and price on Thursday afternoon local time.

Fast food operator QSR Brands is seeking an IPO to raise more than $500m in Malaysia next year, mandating three local and two international banks.