Chinese fertiliser firm says may not be able to make bond payment amid liquidity crunch

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Jiangsu Luling Runfa Chemical Co, an unlisted chemical fertiliser company, said it may not be able to pay principal and interest due on a collective 100 million yuan ($15.7 million) note maturing on Dec. 4. It said in a statement posted on the website of one of China’s main bond clearinghouses… Read more »

SG Dealbook: Keppel issues $141m notes; Swee Hong places fresh shares with Singapore Infra

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The Keppel corporation is issuing S$200 million notes due to mature in 2023, as part of a debt refinancing operations and to raise working capital. Meanwhile, civil engineering services firm Swee Hong has proposed the issue of a new placement of shares in a conditional subscription agreement with Singapore Infrastructure…. Read more »


India’s Lanco to raise $1b via stake sale, listing of power assets

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India’s Lanco Infratech Ltd is looking to raise as much as $1 billion over the next 18 months through a stake sale and a listing of its power assets as it seeks to pare back a heavy debt load, its chief financial officer said. The news comes as the independent… Read more »


Markets reward Tenaga after it loses bid to buy 1MDB power assets; Scrip shoots up to 6-month high

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Shares of Malaysia’s Tenaga Nasional Bhd shot up to its highest in just over six months on Tuesday after the national electricity utility failed to buy the energy assets of state fund 1Malaysia Development Bhd (1MDB). 1MDB on Monday agreed to sell these assets in a $2.3 billion cash deal… Read more »


BHG Retail plans $180m IPO for Chinese malls, marks Singapore’s first public offer this year

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BHG Retail Trust Management  is looking to raise S$256 million ($180 million) in an initial public offering of its real estate investment trust with a portfolio of retail malls in China, its prospectus showed on Monday. This would be the first REIT IPO in Singapore this year after several deals… Read more »


India: PNB Housing Finance to raise $75m from IFC via green bond issue

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Punjab National Bank Housing Finance Ltd (PNB HFL), a subsidiary of Punjab National Bank, will raise $75 million from International Finance Corporation (IFC), the private-sector lending arm of the World Bank, through the non-convertible debenture instrument. The company will issue a secured fixed/floating rate non-covertible debenture (NCD), with a five-year tenure,… Read more »


Philippines construction firm Datem defers $100m IPO due to market conditions

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Philippine-based construction company Datem Inc declined to push through with its planned $100 million (P4.65 billion) initial public offering (IPO) reasoning out “uncertainty in the capital markets.”


Shanghai Equity Exchange to launch new high-tech OTC board for startups

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The Shanghai Equity Exchange (SEE), operator of the city’s over-the-counter equity market, said on Monday it has received regulatory approval to launch a hi-tech board for innovative start-ups, and plans to list the first firms by the end of this year. Launch of the so-called “technology innovation” board is part… Read more »


Indonesia: State-owned drug maker Kimia Farma to raise $146m via rights issue

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Indonesia state-controlled pharmaceutical company PT Kimia Farma Tbk (KAEF) is planning to raise Rp2 trillion ($146.04 million) through a rights issue in the fourth quarter of 2016. The company will issue new shares amounting to 1.1 billion units, or 20 per cent of its paid-up capital, at Rp1,000 apiece. The proceeds will… Read more »


Australia fintech Peppermint Innovation raises $2.8m in IPO to fuel Philippine expansion

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Australia-based fintech company Peppermint Innovation Ltd is gearing for rapid expansion in the Philippines after raising $2.8 million (AU$3.87 million) in an initial public offering over the weekend.