Deutsche Bank regains HK IPO sponsor licence after suspension in June

REUTERS/Kai Pfaffenbach

Deutsche Bank has regained its Hong Kong Initial Public Offerings (IPOs) sponsors licence after it was suspended in June following the departure of key staff, according to a notice on the website of the city’s markets watchdog.

Regulators put the licence on hold when the bank‘s IPO principals left.

Deutsche had still been able to work on deals in a junior role but could not act as sponsor, which in Hong Kong is the most senior role on an IPO.

In Hong Kong, IPOs need at least one sponsoring bank, which typically collects a larger proportion of fees than banks listed only as bookrunners.

Deutsche has recruited a number of senior bankers, led by Ian Long as vice chairman of investment banking and coverage for Asia.

Long, alongside two other recent hires – Derek Chung and Albert Chang – will be the bank‘s IPO sponsor principals, according to the posting on the Securities and Futures Commission’s (SFC) website.

Deutsche Bank did not feature in the top 25 banks in the Asia Pacific equity capital markets league tables in the first half of this year, according to Refinitiv data.

It has been rebuilding some of its ECM team across Asia after the business was scaled down as part of a global restructuring in 2019.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.