China’s securities association finds $166b error in CITIC accounts

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China’s securities association said on Wednesday CITIC Securities had inaccurately inflated its derivative business by 1.06 trillion yuan ($165.92 billion) in a report submitted in September. The news comes after probes into China’s largest brokerage led four of its senior executives to confess to insider trading. In its monthly report to… Read more »

Malaysia: KTC makes strong listing debut on ACE market, opens 100% higher than issue price

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Newly listed consumer packaged goods distributor Kim Teck Cheong Consolidated Bhd (KTC) makes a strong debut on the ACE Market of Bursa Malaysia Securities Bhd on Wednesday, opening its first trading day at MYR0.30, 100 per cent up from its issue price of MYR0.15. The market presented a strong demand for the group’s… Read more »


India: Three IPO launches to help raise over $377m in December

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Drug maker Alkem Laboratories Ltd and healthcare firms Narayana Hrudayalaya and Dr Lal Pathlabs are planning to launch their initial public offerings (IPOs) in the first half of December to collectively raise over Rs.2,500 crore ($377 million), according to several people aware of the development. While Alkem is looking to raise… Read more »


China Energy Engineering Corp’s HK IPO might raise $1.96b

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China Energy Engineering Corp Ltd (CEEC) is set to launch on Wednesday an up to $1.96 billion initial public offering, IFR reported, citing people familiar with the plans. The IPO will consist of 8.8 billion shares, 90 percent new shares issued by CEEC and 10 percent from China‘s National Social Security… Read more »


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 »