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.
Baosteel Group raised Rmb4bn (US$650m) from an offering of three-year exchangeable bonds, the first such public issuance since China introduced the structure six years ago. The EBs, which can be exchanged for New China Life A shares, met with an overwhelming response from investors, despite a sharp decline
In an uncertain year, one bank combined its Asian expertise and global platform to raise funds for top-tier clients. For its continued dominance of market-defining deals, Goldman Sachs is IFR’s Asia-Pacific Equity House of the Year.
Investment banks in mainland China are shifting more resources into the budding market for equity private placements, as A-share IPOs continue to underwhelm on volumes and fees.