Equity capital markets
Felda Global Ventures’ $3.1 billion IPO completed this week though bookrunners CIMB, Deutsche Bank, J.P. Morgan, Maybank and Morgan Stanley, in what was the world’s second-biggest IPO so far in 2012 and the second-largest ECM transaction in the region so far this year.
The deal helped push Asia ex-Japan ECM volume this week to $3.8 billion from 14 deals, the highest weekly level since the week of April 16 ($6.9 billion through 31 transactions). Deutsche jumped to eighth in the league table on the back of the Felda deal, while Morgan Stanley and J.P. Morgan have both moved up a notch to fourth and fifth, respectively.
Goldman Sachs continues to lead the league table ranking with $6.1 billion, followed by UBS and Citi.
Debt capital markets
Three Asian borrowers have tapped the G3 debt capital markets this week for $1.4 billion, almost on par with the $1.5 billion raised from three issuers in the same period last week. This brings 2012 issuance to $75.4 billion, up 37% on the $55.1 billion raised in the comparable 2011 period and marking the highest year-to-date level on record.
The biggest deal of the week was a $500 million trade for Swire Properties through bookrunners HSBC and Standard Chartered.
Hong Kong leads G3 DCM issuance in the region with $16.1 billion through 33 trades so far this year, up from just $1.7 billion through nine trades issued during the same period of 2011 and representing the highest year-to-date level on record. China and South Korea follow with $14 billion and $13.7 billion this year, which saw their respective volume fall 15% and 6% year-on-year.
The top three banks in the league table remain unchanged with HSBC taking $10.6 billion, followed by J.P. Morgan and Standard Chartered.
