Emerging sectors to sell bonds more easily

    CHINA will quicken and simplify the ways companies in emerging industries can issue bonds, its latest attempt to help firms battling an economic slowdown.

    Firms in emerging sectors such as cloud computing, biotechnology and energy conservation can now raise funds more quickly by selling bonds, the National Development and Reform Commission said in a statement last week. To give companies more flexibility in their financing, firms can use up to half of the funds raised in bond sales to repay bank loans or replenish their working capital, the commission said.

    Stock trading link to be expanded

    HONG KONG Exchanges & Clearing Ltd. (HKEx), the world’s biggest bourse operator by value, expects the trading limits for the equity link to the mainland will be expanded.

    Hong Kong’s stock exchange had record trading turnover for two days last week as mainland investors used up their daily quota for buying Hong Kong stocks. Regulators in Hong Kong and on the mainland would need to agree on the quotas expansion with the authorities developing plans for one more trading connection with the Shenzhen Stock Exchange, said Romnesh Lamba, HKEx’s co-head of global markets.

    Tencent-backed firm seeks US$300m pre-IPO funds

    MEILISHUO.COM, the Chinese women’s apparel retailer backed by Tencent Holdings Ltd., is seeking to raise about US$300 million from investors ahead of an initial public offering (IPO), a source familiar with the situation said.

    The current round of funding will likely be Meilishuo’s last before a stock market listing, the source said. The company, whose name means “Beauty Talk” in Chinese, is considering seeking a U.S. IPO that could take place as soon as next year.

    Merchants Bank to sell shares to employees

    CHINA Merchants Bank Co. plans to sell new shares to employees at less than market price, raising as much as 6 billion yuan (US$966 million) and putting in place a motivational reward common at global financial companies.

    Shenzhen-based China Merchants will sell as many as 434.8 million A shares to employees at 13.8 yuan each, according to a statement Friday. That’s a 12 percent discount to the stock’s Thursday closing price of 15.66 yuan.