Ken Wang covers China's ECM and the equity-linked market for IFR. Before joining Thomson Reuters IFR in January 2011, he worked as a stock editor for China Finance Online.
Chinese issuers continued to forge ahead with plans for sizeable private share placements last week even as stocks plunged to a new year-lows, down 40% from the June peak.
With share sales heavily restricted and margin loans hard to come by, major shareholders in Chinese listed companies are turning to the little-known exchangeable bond market to raise funds.
Persistent volatility and an IPO freeze are driving Chinese money managers away from equities and into the country’s burgeoning bond market.