"We're not out of the woods yet. I wouldn't view it as a bull signal for the economy or for the stock market, but they must be confident enough to reach this phase, which is positive," said a Hong Kong-based equity capital markets banker who was not authorized to speak publicly on the matter.
"They've taken a view that these deals will get done and will be supported by Chinese pools of capital. There's no shortage of institutional money in China."
Huarong and China RE did not reply to Reuters requests for comment on the pre-marketing of their IPOs.
Huarong is seeking to raise up to $3 billion in its IPO. The offering will consist of 6.31 billion shares, equivalent to a 16.4 percent stake in the company, and Huarong is slated to start taking orders from investors on Oct. 15, according to a term sheet of the deal seen by Reuters.
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The offering will include no more than 607 million shares from China's Ministry of Finance and no more than 17 million shares from state-backed grain trader COFCO, the terms showed.
Huarong plans to use 60 percent of the proceeds to develop its distressed asset business and buy more debt from financial and non-financial companies, while another 30 percent will be set aside to expand its financial services businesses.
China RE plans to raise up to $2 billion. It is set to offer 5.77 billion new shares, equivalent to 14 percent of its enlarged share capital, and to start taking orders from investors on Oct. 12, Thomson Reuters publication IFR reported.