Morgan Stanley catches its competitors off guard with the launch and closure of an equity linked deal for PCCW.

The Hong Kong government chose the palatial setting of the former Governor''s residence to launch the Territory''s first privatization through a public offering yesterday (Monday).

John Fogarty has been appointed head of Dresdner Kleinwort Benson''s equity syndicate in Asia.

Both companies are ploughing ahead with equity offerings in the hope that international equity will buck negative sentiment on the domestic bourse.

Investor presentations for Hong Kong''s benchmark privatisation will kick off next Thursday following a crucial meeting this Saturday to determine the final size and structure of the deal.

The resurgent appeal of the Samurai bond market for Asian borrowers appears to have ended as abruptly as it began, with the autumn pipeline succumbing to the allure of the loan markets.

After strong run-ups in their domestic share prices, IC designers Sunplus and Via Technologies are planning international equity offerings.

In what must rank as one of the fastest decisions in Asian privatization history, Goldman Sachs was chosen as global co-ordinator of Chunghwa Telecom within hours of final bake-offs on Saturday.

Broadband internet carrier Asia Global Crossing is preparing to re-launch a combined $1.3 billion debt and equity offering.

SEC filings by Taiwan''s UMC and ASE earlier this week signal an onslaught of overseas equity offerings from the Island Republic this autumn.

Expectations that Thailand''s relaxation of tier 2 capital requirements will lead to a flood of international debt issues has been dismissed by bank capital experts, who predict activity will be dominated by buybacks and exchanges.

Pohang Iron & Steel (Posco) has returned to the Yen markets for the second time in three months, pricing a Y35 billion Samurai up to 25bp inside its outstanding dollar levels.

The long-awaited RFP to lead Taiwan''s Chunghwa Telecom to the international equity markets was sent out yesterday (Thursday).

The analysts meeting for the high profile privatisation of Hong Kong''s urban rail network takes place today (Friday) ahead of its flotation next month.

Hong Kong''s equity markets will provide the bulk of September''s new issuance, with jumbo offerings looming for Chinese Petroleum Corp (Sinopec) and the Mass Transit Railway Corp (MTR).