Page 2 - Jonathan Breen News Today

By Jonathan Breen 27 May 2021 Silicon wafer maker GlobalWafers raised $1bn this week from its debut in the equity-linked market, selling the largest convertible bond from a Taiwanese issuer in more than a decade. The company, a leader in Taiwan’s semiconductor industry, offered investors $1bn of five-year zero coupon convertible notes on Monday.Joint bookrunners DBS, Nomura and UBS wall-crossed investors during the day and launched an accelerated bookbuild after markets closed in Taipei. They...

By Jonathan Breen 11.15 AM Viva China Holdings raised HK$3.8bn ($491.4m) by offloading a block of shares in Chinese sportswear manufacturer Li Ning Co this week, while Swiss Re exited New China Life Insurance. Viva is a mainland-based company that provides services including sports events production and management and sports-related consultancy.It took the opportunity to trim its stake in Li Ning on Monday, after the stock jumped 5.5% during the day. It is the second time this year Viva has sol...

By Jonathan Breen 10.30 AM JD Logistics wrapped up its jumbo Hong Kong IPO on Thursday after a strong turnout from institutional investors, attracted to the company’s fair valuation and its parent’s credentials. The multi-billion-dollar listing is set to be the city’s largest float since the beginning of the year, writes Jonathan Breen. Chinese e-commerce firm JD.com is spinning off its logistics unit in a long-awaited listing that could net up to HK$26.5bn ($3...

By Jonathan Breen 11 May 2021 Malaysia’s 1MDB is suing Deutsche Bank and JP Morgan as part of an effort to recoup more than MR96.6bn ($23.5bn) in assets that it claims are linked to the state investment fund. The fund and its former subsidiary SRC International have filed 22 civil suits, according to a statement by the Ministry of Finance on Monday. The suits are against an array of individuals and entities including “two foreign financial institutions” that ar...

By Jonathan Breen 11 May 2021 New Hope Service Holdings, a Chinese property manager, has launched its Hong Kong listing of up to HK$940m ($121m). It already has the support of Xiaomi Corp and Ke Holdings. Sole sponsor and global co-ordinator ABC International kicked off the IPO roadshow on Tuesday and expects to continue taking orders until the retail investor book closes at midday Friday in Hong Kong.The bank is leading a seven-strong syndicate team, marketing a float of 200m shares at HK$3.80...

By Jonathan Breen 06.00 AM Property developer and manager Kaisa Group Holdings has raised HK$2.59bn ($332.97m) from shareholders of its Hong Kong listed stock, to be partly used to fund an acquisition. The company issued 876.5m new shares for the transaction, offering one rights share at HK$2.95 for every seven existing shares. The price represents a 22.7% discount to the theoretical ex-rights price of HK$3.82.The offer drew 114 acceptances and 103 applications for excess rights shares. The com...

By Jonathan Breen 09.15 AM The Philippines’ equity capital markets got another boost this week as Monde Nissin Corp was swamped by investors placing pre-launch bids for its upcoming billion-dollar IPO, set to be the country’s largest ever listing. The market is shaping up to be one of the busiest in southeast Asia this year, tapping into growth in the consumer sector. Jonathan Breen reports. Food and beverage company Monde Nissin’s listing will put 2021’s ECM...

By Jonathan Breen 05 May 2021 Tiangong International’s share price slid after the Chinese steel production company priced a HK$844m ($108.6m) share placement near the bottom of the marketed range. On Tuesday night in Hong Kong, Tiangong turned to investors with an offer of 200m shares, looking to raise capital for expanding an industrial park in Thailand and funding the development of new precision tools.The company was selling the stock through a top-up placement at HK$4.20 to ... ...

By Jonathan Breen 05 May 2021 SF Real Estate Investment Trust has launched bookbuilding for its Hong Kong listing. It is aiming to raise up to HK$2.68bn ($345.4m) from the citys first Reit IPO in a year and a half. Chinese delivery company SF Express formed the trust to monetise its logistics properties on the mainland. It is offering 520m units, equal to 65% of the Reit.DBS, the sole listing agent and a joint bookrunner with Credit Suisse and JP Morgan, opened the IPO on Wednesday. It ... ...

By Jonathan Breen 30 Apr 2021 Philippines-based renewable power producer AC Energy has generated Ps12.4bn ($256.3m) in fresh equity, pricing a sale of new shares at the bottom of the marketed range, according to a source familiar with the matter. The company is the energy business of Philippine conglomerate Ayala Corp. It sold 1.9bn shares on Thursday at Ps6.50, near the floor of the original Ps6.00 to Ps8.20 guidance range, said the source.AC Energy held a two-day bookbuild for institutional i...