CITIC Securities

CLSA took a hit this week after its long-serving chief executive officer, Jonathan Slone, and the bank’s chief operating officer both resigned, barely two weeks after chairman Tang Zhenyi also quit. The firm is caught in a struggle with its Chinese state-backed owner, Citic Securities, with the pair’s different approaches to investment banking a major sticking point. Jonathan Breen reports.

BMW Auto Finance on Tuesday brought its biggest Chinese auto loan ABS since its market debut five years ago. The Rmb 5.5bn ($820m) deal, said bankers, showed that the market will boom this year.

CLSA’s chief executive officer, Jonathan Slone, has resigned after more than three decades at the firm. His departure comes just two weeks after the bank’s chairman quit.

The management of vaccine developer CanSino Biologics has hit the road to market its IPO of up to HK$1.26bn ($161m).

A week after BMW debuted in the Panda market with a Rmb3bn ($447m) three year private placement, its onshore financing arm, BMW Automotive Finance, returned to more familiar territory with a Rmb5.5bn auto loan ABS.

BMW issued its first Panda bond on Wednesday, raising Rmb3bn ($447m) in a deal that one of the lead managers hailed as a "milestone” in opening up China’s domestic bond market to foreign issuers.

SAIC-GMAC, one of the first issuers in China’s auto loan ABS market, returned with a Rmb10bn ($1.49bn) three-tranche transaction this week.

New economy-focused logistics company ESR is looking for the greenlight to list in Hong Kong, having filed a draft IPO prospectus with the city’s stock exchange.

Philippine-based PH Resorts Group (PHR) has opened bookbuilding for a potential Ps10.4bn ($198.8m) follow-on offering of common shares.

Hong Kong-listed Lenovo Group has given Asia its first real taste of equity-linked issuance for the year. The firm raked in $675m from its debut convertible bond (CB) after a flood of investors turned out for the deal, and as bankers gear up for more issuance. Jonathan Breen reports.

China Yuanfang Group filed a draft IPO prospectus in Hong Kong on Wednesday, adding to a growing list of Mainland education firms hoping to float in the city.

Lenovo Group boosted the size of its debut convertible bond to $675m after a flood of investors turned out for the deal, according to bankers on the mandate.