Mega Financial readies exchangeable

A $150 million to $200 million deal is expected as early as next week.

Joint leads Goldman Sachs and Lehman Brothers are in the final stages of preparing Asia's first equity deal since Easter, with the market expecting an exchangeable sometime next week by Mega Financial subsidiary International Commercial Bank of China ICBC. The deal, which will be exchangeable into Cathay Financial Holdings, has been awaiting final regulatory approval and the announcement of Cathay's first quarter results, due today Friday.

In contrast to vast swathes of the Asian equity pipeline,...

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