Edmund Lee set to join JP Morgan as its head of Singapore from DBS Vickers Securities, according to an internal memo seen by FinanceAsia.
Deal comes as China’s lenders are passing on some opportunities under pressure from the government to reform, which is opening up chances for foreign competitors, say bankers.
The business space trust fixes the price at S$0.78 for a 7.7% yield after attracting good demand from long-only funds and real estate specialists.
The Singapore-based business space Reit goes ahead without cornerstones but is covered at the top after the first three days. Meanwhile, Indonesian industrial estate owner Deltamas is trying to restructure its IPO after demand falls short.
The money will help fund a proposed $754 million acquisition of a Hong Kong shopping mall from Cheung Kong, which is the largest owner of the Li Ka-shing-backed Reit.
SPH Reit attracts the most demand of the two and prices at the top of the range to raise $393 million, while OUE Hospitality is expected to price at the bottom for a total deal size of $470 million.
Singapore’s biggest lender is enmeshed in political brinkmanship as it fights to win Bank Danamon.
The retail-focused trust, which is sponsored by Singapore Press Holdings, decides to go ahead after signing up five cornerstones and enough anchor demand to cover the entire base deal.
Huaneng Hong Kong closes the first dollar bond in more than a week, but it is heavily placed with banks.
The IPO comes as the property sector takes a dive due to concerns about rising interest rates, but even so, it was accompanied in the market yesterday by Ascendas Hospitality Trust, which raised $113 million to finance an acquisition.
Central China Real Estate opts to issue in dollars to redeem outstanding foreign debt.
Bank Indonesia allows DBS to acquire 40% of Bank Danamon from Temasek, but no more for now.
The Macquarie-sponsored business trust prices at a 2014 yield of 8.5% and allocates the great majority of the deal to cornerstones, anchors and long-only accounts in anticipation of a scale-back in favour of MIIF shareholders.
Indian mid-cap company Rolta closes its debut bond after offering a generous yield.
The distributor of Honda motorcycles raises $150 million from the offering. In Hong Kong, another auto-related company, Mando China, is eyeing an IPO of about $250 million.
China Daye Non-Ferrous becomes the second Asian company in two days to sell convertible bonds and the first since August to offer a renminbi-denominated deal.
The business trust with a focus on media assets seeks to raise up to $1.1 billion, with a price range indicating a 2014 yield of more than 8%.
A Singapore business trust with a portfolio of Japanese shopping malls, Croesus will raise $297 million from the fixed-price offering as investors load up on high-yielding equities.
The distributor of Honda motorcycles is seeking to raise up to $178 million from an IPO, while Hero Supermarket plans a rights issue.
The Hong Kong-listed telecom services provider seeks to raise at least $235 million from the fully-underwritten deal.