Shanghai Fosun Pharmaceutical's (HKG:2196, SHA:600196) vaccine unit, Fosun Adgenvax, has submitted an application for a Hong Kong listing, according to a Friday Hong Kong bourse filing.
The company plans to issue H-shares representing no more than 25% of its enlarged share capital, with an overallotment option of up to 15% of the initial offering size.
Fosun Pharma said Fosun Adgenvax is expected to remain a subsidiary after the listing.
The People's Bank of China will increase the overnight reverse repurchase operation in its open market operations on June 29 and June 30.The operation will adopt a fixed interest rate and quantity bidding, according to a Thursday statement.The new rate will be an addition to the PBOC's regular seven-day reverse repo rate, currently at 1.4%, which has served as the main policy benchmark since 2024, Bloomberg reported.Standard Chartered's Becky Liu said the move is a major step toward aligning with U.S. policy rate structures, according to the report. She added that the overnight reverse repo rate is the figure to watch and anything at 1.25% or below would amount to a de facto PBOC rate cut.
Hong Leong Bank (KLSE:HLBANK) issued 640 million ringgit of bonds divided into two tranches, according to a Friday Malaysian bourse filing.The issue comprised 350 million ringgit of 10-year bonds carrying an interest rate of 3.9% per annum, and 290 million ringgit of 12-year bonds carrying a 4% interest rate.The call dates for the two tranches will be June 26, 2031, and June 27, 2033, respectively.The bonds were issued under the lender's multi-currency tier 2 subordinated bond program.