Capital markets news | Wed 15 May 2024

Equity

  • Swift Energy files for ACE Market IPO to raise funds for expansion Edge
  • Farm Price ends 1st day of listing with 71% gain on ACE Market Edge Star
  • Fibromat seeks transfer from LEAP to ACE for larger fundraising Edge
  • SL Innovation seeks new adviser, sponsor for ACE Market listing transfer Edge
  • Arabesque empowering fund management with AI Edge
  • Funds calling themselves ESG face new restrictions in Europe Edge
  • Goldman says expiring Korean notes may boost Hong Kong stocks Edge
  • Macron opposes putative TotalEnergies New York listing Mail
  • Fraud concerns raise red flags for Mumbai’s booming IPOs Star

Debt

  • RCE-originated Al Dzahab sukuk and Zamarad sukuk ratings affirmed RAM
  • Konsortium KAJV’s AA- rating affirmed MARC
  • PLSUKE’s A+(s) and AAA(bg) ratings affirmed MARC Edge
  • Big-name funds pile into real estate debt as banks retreat Edge
  • China megabanks kick off USD8.3b loss-absorbing bond sales Edge
  • Chinese builder Agile defaults for 1st time on USD bonds Edge
  • Indian bonds among least vulnerable in Asia to Treasury swings Edge Star
  • Blackstone, Goldman undercut rivals in USD900m private loan Edge
  • India’s RE outfit SAEL plans maiden USD500m bond sale Star
  • Argentina probes banks on bonds and put options Star
  • Franchise Group looks for ways to trim debt Star
  • Hong Kong banks face credit risks from property downturn Star

Mergers and acquisitions

  • Ancom Nylex to decarbonise via RTO of Ancom Logistics Edge
  • More appetite for REIT acquisition, but decent-yielding assets scarce Edge
  • BCB buys 286-acre land in Batu Pahat for RM83.71m Edge Star
  • Uber to buy Delivery Hero’s Taiwan business for USD950m Edge NST Star
  • Anglo American eyes break-up as it fends off BHP offer Edge
  • Temasek hunts for domestic bets, hedge against geopolitics Edge
  • Saudi Arabia to merge Qiddiya development with entertainment firm SEVEN NST
  • EQT offers to buy wind developer OX2 in USD1.5b deal Star
  • Hess investors should ‘abstain’ from Chevron vote Star

Projects and business

  • Alam Flora partners South Korea’s COF on eco-friendly waste treatment NST
  • China’s BYD postpones plans for 2025 Chile lithium cathode plant Edge
  • Itochu nearing green ammonia offtake agreement with Hive Hydrogen Edge
  • Europe’s gas supply once again hinges on Norway’s Equinor Star

Economy and market news

  • Short-term interbank rates end stable on BNM operations Mail
  • Malaysia inflows bring LME aluminium stocks to highest since 2021 Star
  • Malaysia’s property market on road to recovery Star
  • South Korean import prices up for 4th month Star
  • US producer prices increase more than expected in Apr Star
  • China central bank seen keeping lending rate on hold Star

Legal and policies

  • Govt mulling Real Property Development Act for Peninsular Malaysia Edge
  • Ageson says no material adverse findings from independent assessment Edge
  • Court rules Jetson shareholders’ requisition to remove directors invalid Edge
  • Rumble sues Google over digital advertising practices Edge NST
  • US cites threat of Chinese EVs made in Mexico as trade concern Edge
  • Alphabet’s Waymo probed by US after 22 autonomous car incidents Edge
  • Biden sharply hikes US tariffs on Chinese imports including chips, cars Mail Star
  • Trump says US China tariffs needed on other vehicles, products Mail
  • G7 to discuss global trade risks after US tariffs on China Mail
  • China says it will take measures after US tariff hike Mail Star
  • Prosecutors call for ex-Nuveen trader to be put behind bars Star

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