The proposal values the group at $4.2bn and will involve delisting from the Singapore Exchange. Alibaba and Ant Group have agreed to buy 13 floors of Mandarin Oriental's new Hong Kong office building One Causeway Bay; the group is expanding in Seoul.
Corporate issuances are increasing in the offshore Renminbi bond market, despite challenges around rates, liquidity and diversification; Hong Kong is poised to benefit.
The record transaction from the Chinese insurance giant shows strong investor demand for hybrid equity instruments; the proceeds will be used for AI and international expansion.
Analysts are betting that US president Donald Trump and his Chinese counterpart Xi Jinping will strike a deal, which would spur US players to buy Chinese stocks, just as overall sentiment for mainland China and Hong Kong improves.
FA understands the bank is making a number of senior leadership changes and hires across ECM, investment banking and technology, in Hong Kong, Singapore, Sydney and San Francisco; including Apac Equity Syndicate leader and head of SEA ECM.