Agricultural Development Bank of China raised 2 billion yuan (HK$2.27 billion) by issuing a one-year yuan-denominated bond targeting retail and institutional investors in Hong Kong.
The issue to public investors accounted for 200 million yuan at an interest rate of 3.08 percent, with the retail tranche fully subscribed.
Agricultural Development Bank is one of China's three policy banks. The bond issuance is the first to be open for subscription to both retail investors - via Hong Kong Exchanges and Clearing (0388) - and professional investors in the over-the-counter market, following HKMA's Exchange Fund Bills.
Meanwhile, Frontage, a Chinese contract drug research company, raised HK$1.6 billion from a Hong Kong IPO after pricing at the top of the indicative price range of HK$2.55 to HK$3.2.
Also, Pujiang International, a mainland construction materials provider, raised HK$643 million after pricing its IPO at HK$2.68, below the midpoint targeted price range.