by Megha Malhotra | Aug 31, 2021 | High Yield Bonds, Hong Kong
China’s Dr. Peng Telecom & Media Group reported profits for the six months ended June 30 came of RMB 1bn ($155mn), three times the profits of RMB 325mn ($50mn) earned in the same period last year, while earnings per share (EPS) rose to RMB 0.72 ($0.11), four times...
by Megha Malhotra | Aug 18, 2021 | High Yield Bonds, Hong Kong
Hong Kong insurer FWD is targeting to raise up to $3bn via an IPO in the US next month with a valuation of around $13bn as per a source. SCMP reports that HSBC, JPMorgan, Morgan Stanley, and Goldman Sachs are leading the share listing. If successful, it would be the...
by Amruth Sundarkumar | Jul 1, 2021 | Corporates, Hong Kong
Hong Kong’s multinational insurance and finance corporation AIA Group Limited (AIA) acquired 24.99% stake for $1.86bn in China Post Life, the life insurance arm of the China Post Group as it expands its presence in China, subject to regulatory approval. “AIA’s...
by Amruth Sundarkumar | Jun 21, 2021 | Hong Kong
Hong Kong insurance player FWD has filed for an IPO to list in the US. The equity issuance could raise $2-2.5bn, valuing the company at about $13bn. The move clarifies rumors over the past two years about a listing either in Hong Kong or the US. Refinitiv notes that...
by Amruth Sundarkumar | Jun 17, 2021 | High Yield Bonds, Hong Kong
Hong Kong based Insurance company FWD Group is looking to amend terms of its offshore bonds after its holding company, PCGI Intermediate Holdings (PCGIIH) owned by Richard Li announced a proposed Initial Public Offering (IPO) at the US Securities and Exchange...
by Amruth Sundarkumar | Jun 9, 2021 | High Yield Bonds, Hong Kong
Hong Kong’s embattled flag carrier Cathay Pacific welcomed the extension of the HKD 7.8bn ($1bn) bridge loan from the Hong Kong SAR Government on June 8, 2021. The airline, which is dealing with reduced business due to the ongoing pandemic, said that the...
