By Fiona Lau
Postal Savings Bank of China (PSBC) has invited banks to pitch for its planned Hong Kong IPO, which with an estimated value of up to $15 billion may be the world’s biggest listing this year, IFR reported, citing people familiar with the deal. The move puts the initial public offering… Read more »
China’s embattled top securities regulator, Xiao Gang, has offered to resign, sources said, after perceived mismanagement wiped more than $5 trillion off the capitalization of the Shanghai and Shenzhen stock markets since they peaked last June. The 57-year-old chairman of the China Securities Regulatory Commission (CSRC) tendered his resignation last… Read more »
State Bank of India will be more cautious in converting loans into a majority equity holding under the strategic debt restructuring (SDR) scheme after a surge in such cases raised questions over the ability of banks to sell these stressed assets within the 18 months given to them. The top… Read more »
China is battling to stem speculation of further yuan weakness. The move could curb offshore banks’ interest in yuan dealings. Higher reserves could tighten supply, ease depreciation pressure
The plan is part of a broader goal to capitalize other units including its film, tourism and sports businesses via stock listings, Wang, China’s richest man, said at the Asia Financial Forum.
A Chinese government campaign to restore confidence in the country’s volatile stock markets appeared to be in tatters on Friday as the benchmark Shanghai index wiped out all the gains made since the depths of last year’s crash. Among a flurry of measures, a so-called national team of institutional investors… Read more »
Major U.S. growth mutual funds have been among the largest sellers of Apple Inc shares over the past six months, fueling speculation that the company’s days of supercharged growth have come to an end. Amid concerns that iPhone sales may be set to drop, the $77.3 billion American Funds Capital World Growth & Income Fund has sold all of its 1.7 million Apple shares… Read more »
Indonesia, which is looking at nearly 35 IPOs in 2016, ended 2015 with barely 20 companies raising about $1 billion through the capital markets route.
The co-founder of Flipkart, India’s biggest e-commerce company, said on Saturday that the country’s stock markets were not yet ready for a large Internet listing. Sachin Bansal’s comments at a startup conference in New Delhi came days after a rejig in the top management that was viewed by some as a… Read more »
The National Stock Exchange Ltd, or NSE, has submitted its restructuring plan to the capital markets regulator and proposed the creation of a subsidiary which will hold all the profit-making businesses before it goes in for a public listing, said two people familiar with the plan. The move comes after… Read more »