ECM Weekly (29 Jun 2019) -  Sterling&Wilson, Renrui, ASK, Zhongliang, AMTDI, Ascentage, CIMC

ECM activity in Hong Kong has finally quietened down this week. CIMC Vehicle Group Co Ltd (1706044D HK), Zhongliang Holdings (2772 HK), and Jinshang Bank Co Ltd (2558 HK) kick started their bookbuild. CIMC will close its books next week and list on the 11th of July while Jinshang Bank's bookbuild will stretch over an unusually long two-week period. We covered the IPOs in:

• CIMC Vehicle (中集车辆) IPO: Thoughts on Cornerstones and Valuation Range
• Jinshang Bank (晋商银行) IPO: Thoughts on Cornerstone and Valuation
• Zhongliang (中梁地产) IPO Review - Same Concerns

There are a handful of interesting companies that have filed their prospectus over the week namely, Topsports, Belle International Holdings (1880 HK)'s sportswear unit, and JS Global Lifestyle, a household appliance company that owns brands like Joyoung, Shark and Ninja. There were also news reporting that Tencent-backed Miniso is planning its US$1bn IPO.

In India, HDFC Bank is said to have picked banks for the IPO of its non-bank finance unit, HDB Financial. Indigo Paint and GoAir are also said to be planning their IPOs soon. The former will aim for a listing next year while GoAir is seeking banks to revive IPO plans.

In Singapore, Prime US REIT opened its books on Friday at a fixed price of S$0.88 per unit, seeking to raise about US$600m while Teledirect, a business process services company headquartered in Singapore, is said to be seeking a US$200-300m listing.

In other countries, Walmart is said to be planning a re-listing of its Japan unit, Seiyu, after struggling to find a buyer. In Australia, Home Consortium is aiming to lodge IPO documents in September.