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A Financial Trading Platform for Bond Issuance Set up

Date:2018-12-13 Source:Macaodaily Visits:

In the company of Fu Jianguo, Ho Hau Wah presented the inauguration ceremony.

A Financial Trading Platform for Bond Issuance Set up

 [Macao Daily News] The founding of Chongwa (Macao) Financial Asset Exchange Co., Ltd. (MOX), the pioneer among the financial asset trading institutions in Macao, has filled the gaps existing in Macao with respect to direct financing channels, and set up a financial trading platform in Macao for public and non-public bond issuance.

The first HKD bond for supplementing tier-one capital publicly issued and listed by Luso International Banking Ltd. in Macao and the first "Guangdong-Hong Kong-Macao Greater Bay Area" MOP bond listed by Bank of China Limited Macao Branch have been successfully listed at Chongwa (Macao) Financial Asset Exchange Co., Ltd.

 The successful issue of the HKD bond represents "three firsts" in Macao's finance industry: It is the first issue in which public subscription and issue are completed through an "entirely local" underwriting syndicate, with the funds raised in the first stage exceeding MOP1.7 billion; it is the first issue of a bond for supplementing tier-one capital of a local banking institution, enhancing the financial institution's risk resistance for its sustainable development; it is the first local listing of a local bond, representing a breakthrough in business.

In addition, the in-depth significance of the "entirely local" bond issuance lies in that it enables the issuers, trading venues, financial industry and professional intermediary agencies in Macao and their staff to really participate in the whole process, creates a true "Macao bond", and opens a new page for moderate diversification of economy and talent cultivation in Macao.

 Strategic cooperation agreements were signed with several banks

Two signing ceremonies were held at the inauguration ceremony. MOX entered into the Strategic Cooperation Agreement with CRRC Capital Holding Co., Ltd., Bank of China Limited Macao Branch, Industrial and Commercial Bank of China (Macau) Limited, China Construction Bank Corporation Macao Branch, Bank of Communications Co., Ltd. Macao Branch, Luso International Banking Limited as well as China Guangfa Bank Co., Ltd. Macao Branch. The Cooperation Agreement of Fund Raising and Agency Payment was signed between MOX and Industrial and Commercial Bank of China (Macau) Limited.

ICBC (Macau) issued a press release. In the release, it mentioned that ICBC (Macau), as the largest locally-registered bank and full-licensed financial institution in Macao, assumed the roles of joint underwriter, joint book runner and custody bank of fund raising and agency payment for the "Lotus Project I", while ICBC (Macau) Capital, as a wholly-owned subsidiary of ICBC (Macau), assumed the roles of leading coordinator and lead underwriter of the bond issuance project. The two institutions both played significant parts in the bond issuance and listing of MOX. At present, MOX has signed the Strategic Cooperation Agreement with ICBC (Macau) and held a signing ceremony with cooperative banks, which laid a solid foundation for the future cooperation between the two parties and would promote the active and sustainable development of the local bond market. 

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