Haitong Securities
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Viva Biotech Holdings has kicked off bookbuilding for its Hong Kong listing, eyeing proceeds of up to HK$1.52bn ($194m). The firm has secured the support of Chinese state-owned giant Sinopharm. -
Three Chinese property companies courted high yield dollar investors on Wednesday, raising a combined $827m.
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Three Chinese property companies raised a combined $1.625bn from international bond sales on Monday, continuing the flow of high yield paper into the offshore market.
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Yuyao Shuncai Investment Holding Co returned to the market for its second dollar bond sale on Friday, raising $100m from the quick trade to cap of a busy week of new issuance.
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Peking University Founder Group Co has raised $300m from an ultra-tight bond.
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Three Chinese property companies battled in the primary market on Monday with competing supply. While high yield issuers have been able to sell bonds at ultra-tight prices of late, the weight of supply has started to force issuer’s to pay more to borrow.
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Xinyuan Real Estate Co priced a $200m bond that came with a 14.2% coupon, as heavy supply continues to weigh on the Chinese high yield real estate bond market with both new issue concessions and secondary performance suffering.
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Future Land Development Holdings’ new dollar bond crashed in the secondary market on Thursday, following an aggressively priced deal the day before. Rival bankers questioned both Future Land's pricing and the timing.
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Chinese real estate companies Kaisa Group Holdings, Jingrui Holdings and China SCE Group Holdings came to the market on Monday after announcing strong financial results for 2018 last week, raising $900m between them.
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Chinese state-owned investment bank Shenwan Hongyuan Group kicked off pre-marketing on Monday for its Hong Kong IPO.
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Logistics provider ESR Cayman raised $250m from the bond market this week, ahead of a planned IPO in Hong Kong later this year.
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CMGE Technology Group and Haitong UniTrust International Leasing are keeping their IPO plans alive, having resubmitted applications to the Hong Kong's stock exchange.
