ICON Offshore locks in cornerstones

Malaysia’s largest pure-play offshore supply vessel operator’s institutional book was 15 times oversubscribed, with investors keen on the sector.

Malaysia's two largest IPOs of the year are set to hit the market together.

The institutional book for the Malaysian group's palm oil arm was oversubscribed by 12.4 times, and follows the successful floation of vessel operator ICON Offshore.

Shanghai has been handed more tools, including the acceleration of offshore loans and digital trade, to aid offshore financial services in a boost to the city as a global financial hub; there is also cooperation with Hong Kong.

The significance of private Chinese property developers on the global real estate scene will continue to dwindle in the next few years, as they are overshadowed by their state-owned counterparts. Rating agencies and analysts note the rapid decline of offshore dollar bond issuance by Chinese property participants.

A wide range of factors have paved the way for a larger offshore Renminbi fixed income market, according to senior bankers.