Tag: consumption

Developing a stronger culture of domestic consumption is crucial to Asia’s growth, Standard Chartered's Asia CEO, Jaspal Bindra, argues in this contributed view point article. Dr Doom has good things to say about China’s recovery, but includes a few warnings as well. ZTE raises $338 million and TCC International pockets $109 million, while the controlling shareholder in Bawang reduces its stake to make another $132 million worth of shares ... The Singapore property group will list its Asian shopping mall business and offer investors a direct share through an IPO. The sale is completed at a 7.9% discount during the lunchtime break. Frantic retail demand for a piece of the shampoo maker triggers a clawback that increases the Hong Kong public offer to 50% of the deal. The shampoo company launches its deal alongside sportswear manufacturer 361 Degrees. The Chinese sportswear company is raising capital to fund branding exercises and to increase its production capacity. A further slowdown in GDP growth in China and high levels of unemployment will affect the population's propensity to spend, meaning domestic consumption is unlikely to make up ... Access Asia's Paul French gives on-the-ground insight into the China consumption story. The deal marks the fourth sell-down by the same two investors since the IPO and the first Hong Kong placement above $100 million since mid-June. In a tough market, casino operator SJM prices Hong Kong’s third largest IPO this year, while sportswear company XDLong is forced to cancel its listing plans. Sources say E-Land had enough interest for its deal at the bottom of the price range, but the company chose to walk away. The combined OEM manufacturer and branded retailer is aiming to raise up to $123 million as investor interest in IPOs appears to be returning – albeit slowly. The department store operator raises $343 million after fixing the price at HK$3.10 and becomes the first company to complete a Hong Kong IPO in the second quarter. The women's multi-brand fashion designer is looking to sell up to $369 million worth of shares, although only 60% are primary capital. The department store operator is the first company to attempt a Hong Kong IPO in the second quarter, but is expected to be followed shortly by women's fashion designer E-Land. Pre-IPO shareholders cash in $702 million worth of shares in Belle, while an undisclosed seller offloads $87 million of stock in Shenhua Energy. The producer of rice crackers and flavoured milk prices its offering at the bottom of the range for a total deal size of $1.04 billion. The $550 million bond issue, which is exchangeable into shares of Parkson Retail, was combined with a $96.8 million placement of shares in the same company.