Stocks flat on domestic concerns

    CHINA’S main stock indexes were flat yesterday, bucking the upward trend in Asian markets, as sentiment was subdued amid concerns of yuan depreciation and a fresh regulatory crackdown on speculative trading.

    Both the blue-chip CSI300 index and the Shanghai Composite Index rose just 0.1 percent to 3,112.67 points and 2,888.59 points, respectively. Other Asian markets had solid gains on hopes Britain will decide to remain in the European Union. Market sentiment was hit by a weekend announcement from China’s securities regulator that it would tighten rules on major restructurings by listed firms to curb speculation around shell firms used for backdoor listings.

    CDB Leasing seeks up to US$980m in IPO

    CHINA Development Bank Financial Leasing Co. (CDB Leasing), an arm of the nation’s biggest policy lender, and existing investors will seek as much as US$980 million from a Hong Kong initial public offering (IPO), people familiar with the matter said.

    CDB Leasing and its owners plan to offer a combined 3.1 billion shares at HK$1.90 (US$0.24) to HK$2.45 apiece, according to the sources. The price range values the Shenzhen-based aircraft, infrastructure and ship lessor at 0.9 times to 1.1 times its estimated 2016 book value, the sources said. The offering will be Hong Kong’s second major listing from a leasing company this year after BOC Aviation Ltd.’s US$1.1 billion IPO last month.

    Minsheng gets nod to issue preference shares

    CHINA Minsheng Banking Corp. has received approval from the China Banking Regulatory Commission to raise up to 30 billion yuan (US$4.56 billion) by issuing preference shares.

    The bank it will issue up to 300 million preference shares in China and abroad to replenish tier-1 capital. It didn’t give a time frame for the planned issuance.

    ICBC lists US$400m bond on Nasdaq Dubai

    NASDAQ Dubai said Sunday that it welcomed the listing of a US$400 million conventional bond by Industrial and Commercial Bank of China (ICBC), the world’s biggest lender by assets.

    This listing marked the second bond to be listed by ICBC on the Middle East’s international exchange, following a US$500 million listing in May 2015, said Nasdaq Dubai in a statement. The exchange is the only international market by regulatory standards in the Middle East.