JP Morgan has been named depositary bank for SBI Holdings’ Hong Kong depositary receipt (HDR) listing on the Stock Exchange of Hong Kong, becoming the first Asian company to execute an HDR listing.
SBI raised US$207m after issuing 20,000,000 HDRs at an issue price of US$10.35 (HKD80.23) per unit, which includes the over allotment option exercised by the underwriters. With the development of its domestic Japan business largely complete, SBI will use the capital raised to expand its operations internationally, with a specific focus on high growth markets in Asia.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.