Page 6 - Jonathan Breen News Today

Chinese video-sharing platform Kuaishou Technology, a rival to TikTok parent ByteDance, has started testing investor appetite for Hong Kong's largest IPO in over two years as it seeks HK$42bn ($5.42bn).

China Evergrande New Energy Vehicle Group's share price soared over 50% on Monday after the firm sold HK$26bn ($3.35bn) of new stock to a handful of Chinese high net worth investors.

Chinese car manufacturer BYD has closed Hong Kong’s largest primary share placement in more than half a decade, raising HK$29.9bn ($3.86bn). The issuer tapped the market as the local benchmark Hang Seng Index hit a record high, getting strong demand from mainland investors. Jonathan Breen reports.

Apollo Hospitals Enterprise has raised around Rp11.7bn ($160m) from a qualified institutional placement, drawing a swell of demand that pushed pricing above the floor.

Electric vehicle manufacturer Nio raised $1.3bn from a dual-tranche convertible bond this week, while trimming its existing debt with a concurrent buyback.

Thiel Capital, the investment firm of billionaire venture capitalist Peter Thiel, this week launched its second southeast Asia special purpose acquisition company (Spac) in less than four months. The deal marks a coming trend in Asia-focused ‘blank cheque companies’, say bankers. Jonathan Breen reports.

The National Highways Authority of India has picked banks for the potential Rp50bn ($680.5m) IPO of an infrastructure investment trust, according to a source close to the deal.

Linklogis, a technology-based supply chain finance company, is planning to float in Hong Kong, and has filed a draft IPO prospectus with the city’s stock exchange.

By Jonathan Breen 07 Jan 2021 The New York Stock Exchange’s flip-flop on whether to delist three Chinese telecommunications giants caused plenty of confusion in the market this week, but mainland companies are still keen to sell shares in the US. Jonathan Breen reports. Uncertainty defined markets this week. It started first with the NYSE.The US Treasury department has an entity list — effectively a blacklist — that names companies and individuals subject to various sanctions. It includes...

By Jonathan Breen 06 Jan 2021 Chinese toll road operator Zhejiang Expressway kick-started Asias equity-linked market this week, dipping into euros for the year’s first convertible bond. It plans to use all the proceeds to repay debt. The state-owned enterprise, a repeat issuer, hit the market on Tuesday evening with a €230m zero coupon 2026 CB that is callable and puttable from 2024. The deal had “long been prepared", said a source close to the deal, but the issuer waited for the right wi...