Bankers on May 7 started sounding fund managers on their interest for the long-awaited Graff Diamonds initial public offering. The process, known as pre-marketing or, more commonly these days, pre-deal investor education (PDIE), puts the highly anticipated US$1 billion (approximate) deal on track for a June 7 listing. read

There has been much talk of late about the decline of the Hong Kong market for initial public offerings. The volume of new listings is down. These days, deals that venture into marketing seem as likely to get pulled as to be priced. Most problematically, many IPOs that successfully close keep trading in the red. read

Shanghai Fosun Pharmaceutical has secured a green light from both the China Securities Regulatory Commission and the authorities in Hong Kong for its long-awaited initial public offering on HKEx, which means that launch could start soon. read

HONG KONG (Dow Jones Banking Intelligence) – Despite a significant pipeline of deals, at this stage in the year ECM transactions in Asia remain very much characterized by binary outcomes. Large, eye- catching offerings generate significant amounts of investor demand, while less obvious – and perhaps more challenging – transactions (when they close) have posted poor returns for investors. read

HONG KONG (Dow Jones Banking Intelligence) – Citigroup Inc.’s sale of its remaining stake in Housing Development Finance Corp (HDFC) comes as no surprise amid rising markets combined with a pressing need to find extra capital. Other Western firms have already been there in China over the last couple of years. Meanwhile Asian houses are seizing the opportunity to grow, on the back of their Western peers’ renewed asset dumps. read