dah sing

The Hong Kong group has extracted a high price at a time when Chinese insurers and property firms are increasingly looking to diversify overseas.

JD Capital is the leading bidder, the latest sign of Chinese financial institutions looking to diversify overseas.

The Hong Kong bank has structured its bancassurance auction to attract the most suitors possible but China’s capital account crackdown has cooled some of their ardour.

Despite volatile markets in Europe and the US, nine bond issuers came to market in Asia last week, including Noble, Chandra Asri, New World, KDB and Star Energy. But Bank of Baroda postponed the launch of its planned deal.

The medium-sized Hong Kong lender raises $38.8 million from a top-up placement on a day when financial stocks take a beating on renewed concerns about loan losses at the US banks.

Hong Kong bank gets set to price third subordinated deal in two years.

Dah Sing becomes third Hong Kong bank to issue senior dollar debt.

Pricing comes at the bottom of the indicative range in a weak IPO environment.