Equity Capital Markets
A total of $8.8 billion was raised via 18 issues in the equity capital markets this week – the highest weekly level since Agricultural Bank of China’s IPO in early July. Goldman Sachs now takes the reins at the top of the league table ranking with $10.9 billion, followed by China International Capital Corp on $10.0 billion and UBS on $9.8 billion.
Vodafone’s sale of a $6.6 billion stake in China Mobile was the largest deal of the week. The issue, which was led by Goldman Sachs, Morgan Stanley and UBS, marks the region’s largest overnight offering on record.
Goldman Sachs jumped a couple of notches in the ranking to secure the top spot on the back of the China Mobile offering, as well as a $418 million accelerated bookbuild in China High Speed Transmission Equipment Group and a $102 million bought deal for Focus Media Holding, both of which it ran on a sole basis.
UBS and Morgan Stanley also improved their league table standings following the China Mobile offering – climbing to the third and fourth rungs (from fifth and sixth, respectively, last week).
Issues scheduled to price next week include a $150 million IPO in Hong Kong for MicroPort Scientific Corp, led by Credit Suisse and Piper Jaffray & Co.
Debt Capital Markets
The debt capital markets recorded a total of $1.8 billion raised from four trades this week. Deutsche Bank maintains its place at the head of the league table ranking with $5.5 billion, followed by UBS and HSBC on $4.7 billion and $4.6 billion, respectively.
A $1.0 billion bond for DBS Bank was the largest deal of the week and led by DBS, Barclays Capital and Bank of America Merrill Lynch. Barclays and BoA Merrill remain in the sixth and eighth places in the ranking.
HSBC climbed up a notch in the league table after being involved in three deals this week – a $500 million offering for Korea Hydro & Nuclear Power, led together with UBS, Deutsche Bank, Samsung Securities, Citi and BoA Merrill; a $200 million deal for Powerlong Real Estate Holdings that it ran together with Royal Bank of Scotland; and a $120 million issue for SK Lubricants that it worked on together with Shinhan Investment Corp.
