Northeast Asia

China’s latest crackdown on some of its largest internet companies should raise a critical question — who are the real beneficiaries of reining in the country’s technology titans?

Tiangong International, a China-based steel producer, is selling up to HK$890m in new shares through a top-up placement, according to a term sheet seen by GlobalCapital Asia.

Bank of America has hired a Hong Kong-based director in its technology, media and telecommunications (TMT) team, GlobalCapital has learnt.

Eight Chinese issuers are readying the first batch of sustainability-linked bonds (SLBs) in the onshore market, set to be priced later this week after the Labour Day holiday.

China Huarong Asset Management's dollar bonds have started to see some stability in the secondary market, following comments from a company executive last week.

Hong Kong-based Summit Healthcare Acquisition Corp has set the ball rolling for a Nasdaq IPO of about $200m.

In this round-up, China’s macro leverage drops on a year-on-year basis for two consecutive quarters, Ping An Insurance Group plans to invest up to Rmb50.75bn ($7.84bn) in troubled conglomerate Peking University Founder Group, and the securities regulator has put more weight on the pre-listing education process of domestic IPO candidates.

Foreign banks are expanding their presence in the Chinese central bank’s open market operations, after Deutsche Bank (China) became the latest to gain a primary dealer qualification.

JD Logistics has begun pre-deal investor education for its multi-billion-dollar Hong Kong listing, having won approval from the city’s bourse last Friday.

Taiwan’s World Peace Industries Group has returned to loans bankers for a NT$18bn-equivalent ($645m) refinancing package. The fundraising includes a commercial paper guarantee tranche that has seen some changes as a result of scrutiny from the regulator.

Fuyao Glass Industry Group, an automobile glass maker, has raised HK$4.33bn ($558.5m) after selling a chunk of new shares at the top of the marketed price range.

China’s Waterdrop, a health insurance and healthcare crowdfunding platform, has opened the book for an up to $360m New York Stock Exchange IPO.