China Taiping raises $1.7b in private placement

Following several large private equity sell-downs in Hong Kong there are signs that block sales are taking a breather.

The US retailer is backing a small digital firm as more consumers shop online for policies.

The former Bank of America executive has relocated from London to Shanghai.

Indonesia sells dollar sukuk, China Taiping launches perpetual bond, while Haitong and ICBC Macau open books for more dollar offerings.

The deal, including the transfer of 300 employees and around $3.6bn of assets and deposits, was announced in October 2023 as part of a wider strategy by Citi, which has now closed sales of consumer units in nine markets.

Singapore group raises equity to buy five warehouses from a unit of embattled Chinese conglomerate. It joins a number of Singaporean Reits and trusts in buying assets before further US rate hikes.