automotive

The Indian automaker’s onshore listed company launches an inaugural $750m dual-tranche bond, making use of the country’s recent relaxation of withholding tax policy.

LightInTheBox becomes the first Chinese company to list in the US since November last year. The stock jumps more than 17% at the start of trading.

The anchor tranche of Samvardhana Motherson Finance's $313 million IPO prices below the mid-point of the range.

Hyundai Motors and Kia Motors raise $300 million by reducing their combined ownership of the autoparts maker to 41%.

Mando shrugs off the negative market environment to price above the mid-point in a week when several other deals are either postponed or downsized.

An existing shareholder sells $422 million worth of shares in Tata Motors, while Exide Industries completes a $119 million QIP. Meanwhile, in Hong Kong, Zhongsheng prepares to start the bookbuilding for its recently withdrawn IPO of up to $1 billion.

The deal is upsized by 25% after a recent share price rally proves not to be a deterrent.

The carmaker raises cash at a 6.9% discount to fund acquisitions, while its chairman trims his stake.

Investors award modest conversion premium with hefty demand that drives yield to the tight end of the indicated range.