CITIC Securities

China is allowing banks to issue perpetual bonds with an equity conversion provision, an attempt to balance the need to help smaller lenders shore up their capital with a desire to protect investors. Addison Gong reports.

Chinese healthcare duo MicroPort CardioFlow Medtech Corp and Suzhou Basecare Medical Corp have kicked off their Hong Kong IPOs after a week of pre-marketing.

SAIC-GMAC Automotive Finance Co is already eyeing its second auto loan securitization deal of the year, just a couple of weeks after kickstarting China’s auto ABS market for 2021.

Chinese car manufacturer BYD has closed Hong Kong’s largest primary share placement in more than half a decade, raising HK$29.9bn ($3.86bn). The issuer tapped the market as the local benchmark Hang Seng Index hit a record high, getting strong demand from mainland investors. Jonathan Breen reports.

Kuaishou Technology, a video-sharing and social media platform, has begun drumming up interest among investors for a multi-billion-dollar Hong Kong IPO.

BMW Automotive Finance (China) Co has sold its first auto loan ABS of 2021, locking in longer-dated financing with a 14 month revolver. The deal added to a strong start for the onshore securitization market in the New Year as bond yields fell from their highs at the end of 2020, writes Addison Gong.

Lenovo Group and Megvii Technology are planning to sell Chinese depository receipts (CDRs) on the Nasdaq-style Star market in Shanghai.

BMW Automotive Finance (China) Co and SAIC-GMAC Automotive Finance Co are edging closer to sealing their first China auto loan asset-backed securitization deals of the year.

Chinese property management firm Sino-Ocean Service Holding has scooped up HK$1.74bn ($224.5m) after pricing its IPO below the mid-point of the marketed range.

Harbour Biomed has pocketed HK$1.71bn ($220.8m) by pricing its IPO just above the mid point of the marketed range.

Medical device maker LifeTech Scientific Corp tapped the Hong Kong market for HK$930m ($120m) in fresh equity on Thursday.

JD Health International has raised HK$27bn ($3.5bn) after sealing its IPO at the top end of the marketed range, following a flood of global investor demand.