Northeast Asia

UP Fintech Holding's follow-on offering in the US drew a 10 times oversubscribed book, as its fintech credentials and online operations proved appealing to investors.

Pharmaron Beijing Co brought the first renminbi-linked but dollar settled convertible bond to the market in nearly five years this week, raising $600m from the dual tranche deal. Bankers called it a ‘smashing success’ and said the issue pipeline from the pharmaceutical sector is strengthening. Rashmi Kumar reports.

Bloated syndicate teams running bonds in Asia are becoming the norm yet again. But banks and issuers need to show more restraint.

MUFG has promoted a 30-year veteran banker to lead its China corporate banking franchise in the Mainland.

Three issuers are planning to sell renminbi-denominated Panda bonds this week, bringing up to Rmb7.5bn ($1.17bn) of supply to China’s onshore market.

UP Fintech Holding has launched a follow-on offering of new American depositary shares (ADS) worth around $173.5m.

Casino operator SJM Holdings is planning a return to the loan market, as it looks to ride on the successes of two well-received bond deals this year.

Chinese online recruitment company Kanzhun has hit the road with an up to $912m Nasdaq listing.

Two Chinese policy banks have issued dollar-denominated bonds onshore after a long hiatus, as the renminbi exchange rate continues to strengthen and foreign currency deposits in China hit a record high.

DBS Securities (China) officially opened for business on Monday, as foreign banks continue to expand their presence in the mainland.

JC International Finance and Leasing Co, a wholly-owned subsidiary of China’s Legend Holdings, is making its loan debut.

China Youran Dairy Group and Carsgen Therapeutics Holdings have both rolled out their Hong Kong IPOs.