Northeast Asia

FTSE Russell will start adding Chinese government bonds (CGBs) in its flagship FTSE World Government Bond Index (WGBI) later this year, a move that is expected to attract more foreign inflow into the world’s second largest bond market.

China-based Energy Monster, a mobile device charging company, has kicked off the roadshow for its Nasdaq listing. It is eyeing up to $218.7m from the deal.

Two red chip issuers, China Mengniu Dairy Co and Hengan International Group Co, sold renminbi-denominated Panda bonds in China’s interbank market at the end of last week. Both the firms opted for short tenors.

Hong Kong-listed Car Inc raised $250m from a bond last Friday, riding on the positive sentiment of an ongoing take-private deal and better access to funding.

In this round-up, profits at industrial firms in China surge for the first two months of the year, onshore credit rating agencies face increased scrutiny, and local governments are required to manage debt risks at local state-owned enterprises in a better way.

Kaisa Group Holdings, a Chinese real estate developer, is planning to tap shareholders for a HK$2.73bn ($351.1m) rights issue.

Magnum Opus Acquisition, a special purpose acquisition company (Spac), has raised $200m from a New York Stock Exchange IPO.

In this round-up, China’s State Council assigns tasks to different regulatory bodies to implement the government’s goals for this year, the central bank confirms its policy stance of ‘no sharp turns’, and Haitong Securities is punished for allegedly failing to control risks.

Power Construction Corp of China priced its $500m bond 20bp inside of fair value this week, taking advantage of the rarity value of perpetual notes from the country’s state-owned companies.

Casino operator MGM China Holdings added more liquidity to its balance sheet this week with a $750m bond outing.

Chinese question-and-answer platform Zhihu has raised $522.5m from its US IPO, after pricing the deal at the bottom of the marketed range, according to a source familiar with the matter.

Chinese firm Linklogis has thrown open the book for its Hong Kong IPO, aiming to pocket up to HK$8.28bn ($1.06bn).