Goldman Sachs

US-listed hybrid electric vehicle maker Li Auto launched a billion-dollar listing in Hong Kong this week, providing a much-needed boost for the bourse after a spate of announcements from China’s regulators brought deal flow to a near halt. Jonathan Breen reports.

US-listed hybrid electric vehicle maker Li Auto has hit the road for its Hong Kong secondary listing. The deal could raise around HK$13.1bn ($1.68bn) based on the last close of its US stock.

Sports teams could be among the Covid-battered industries looking to tap the capital markets later this year and next, bankers believe, as Italy’s elite Juventus Football Club prepares for a €400m rights issue to repair its finances.

Bank of America has hired Uday Malhotra back from Goldman Sachs as head of leveraged finance origination in EMEA in London, while Eddie Martin, a managing director in the division, is relocating to the US.

Glenmark Life Sciences, a pharmaceutical ingredients manufacturer, wrapped up a three-day bookbuild for its India IPO on Thursday. The deal, worth up to Rp15.5bn ($208.6m), was covered 15.5 times.

Idorsia, the Swiss biotech company, has turned to the convertible bond market to finance looming product launches and the development of its late-stage drug pipeline.

Valeo, the French auto parts maker, and US exchange company Nasdaq brushed off any worries of contagion from a weak sterling market to print bonds in euros flat to fair value on Tuesday, with the issuers able to take full advantage of the an exceptionally quiet market.

ICBC Financial Leasing Co sold a $1.25bn three tranche deal on Monday that was well supported by Chinese banks.

Turkish renewable energy company Aydem Yenilenebilir Enerji launched its debut bond on Monday, a green dollar offering.

Nasdaq, the US securities trading marketplace, has mandated for an SEC-registered euro benchmark bond, days after the company announced it was spinning off its private market business into a new standalone joint venture.

Hybrid electric vehicle maker Li Auto received the go ahead from Hong Kong’s stock exchange for a secondary listing.

Hong Kong’s stock exchange has rejected an IPO application from Aim Vaccine, a leading Chinese vaccine maker. The deal is being sponsored by China Securities, CICC, Goldman Sachs and Macquarie.