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.
China Everbright Bank has launched the largest A-share convertible bond issue in nearly seven years, opening the floodgates for a potential Rmb85bn (US$12bn) of such deals after a regulatory clampdown on other forms of equity financing.
Three of Shenzhen’s ChiNext-listed companies have revised terms on lock-up periods for their proposed private share placements, pointing to the regulator’s tightening of rules on such issues.
China’s vow to clamp down on the excessive use of follow-on placings, in particular private share placements, faces its first test after two securities companies unveiled plans to raise a combined Rmb31bn (US$4.52bn).