Malaysia

Thailand’s ECM market is heating up with yet another IPO set to launch this week, as WHA Utilities and Power starts bookbuilding on Tuesday.

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.

Malaysia’s Eco World International has thrown open books to its potential M2.6bn ($578.5m) IPO, signing up three cornerstones to the deal.

Philippine-based Wilcon Depot is planning to open books on March 20 for a Ps7.9bn ($156.8m) IPO, according to a notice on the country's stock exchange.

Malaysia-listed Iskandar Waterfront Holdings (IWH) is merging with sister firm Iskandar Waterfront City (IWC) in a MR761.8m ($170.8m) transaction to be funded by debt and equity.

Lotte Chemical Titan, which is seeking to raise more than $1bn via an IPO in Malaysia, has added three banks to its syndicate at the bookrunner level.

RHB Bank’s Asia head of institutional equities Lena Yong has parted ways with the Malaysian bank following a restructuring of its wholesale equities division.

Hangzhou Mi Lu Technology Co, which owns Chinese social media platform kktv5.com, is laying the groundwork for a Hong Kong IPO this year, according to bankers close to the matter.

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

Malaysia-based Lotte Chemical Titan has hired a trio of banks for its potential $1bn domestic listing this year, according to a banker close to the transaction.

In this round-up, Malaysia gets its first renminbi qualified institutional investor (RQFII) licence, RMB payments continue to drop, and China calls for more local governments to issue free trade zone bonds. Plus, a recap of our coverage this week.

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.