Northeast Asia
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Hybrid electric vehicle maker Li Auto received the go ahead from Hong Kong’s stock exchange for a secondary listing.
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Luso International Banking became the first Macau-based issuer to sell renminbi-denominated bonds in China’s interbank market when it sold a Rmb1.5bn ($231.5m) transaction at the end of last week.
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Hong Kong’s stock exchange has rejected an IPO application from Aim Vaccine, a leading Chinese vaccine maker. The deal is being sponsored by China Securities, CICC, Goldman Sachs and Macquarie.
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In this round-up, onshore securities houses receive their 2021 annual rating, the central bank requires pre-reporting from non-bank payment firms to go public, and the private education industry in China faces tough new regulations.
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South Korean car rental company Lotte Rental has launched the roadshow for its IPO, looking for up to W850.9bn ($739.2m) in proceeds.
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China Telecom Corp has got the nod from the Chinese securities regulator for a Shanghai listing which, if launched in the second half, could set the record for the largest IPO in the world this year.
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Shandong Iron and Steel Group Co raked in $500m this week, as investors welcomed the long-term prospects of the Chinese company.
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Ping An Real Estate Co raised a total of $600m from two tranches of green bonds on Thursday, capping a strong week for sustainability related transactions in Asia.
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China Citic Bank International has sold a $600m Basel III compliant additional tier one bond, ahead of plans to call one of its other bank capital trades later this year.
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China Evergrande Group took a hit to its stock and bond prices this week after a series of negative headlines rattled the market. While the sell-off had some reprieve on Thursday, bankers and analysts said the worst is not over yet, writes Addison Gong.
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Kakao Bank has defended its valuation following a W2.55tr ($2.2bn) IPO after being questioned by South Korea’s regulators about its high pricing. The internet-only bank is only the latest in the country to be targeted by authorities cracking down on lofty valuations of new listings. Jonathan Breen reports.
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Borrowers from Greater China rolled out five new bonds on Wednesday to raise more than $2bn between them.