Equity capital markets
Activity in the equity capital markets stands at $3.1 billion through 21 issues so far this week and brings the year-to-date total to $79.2 billion, down from the $103 billion raised during the same 2011 period.
BDO Unibank’s $1 billion rights offer was the biggest transaction to complete in the region this week, through bookrunners Citi, Deutsche Bank, J.P. Morgan and BDO Capital. The deal marks the largest ECM transaction in the Philippines on record and also the second-biggest Southeast Asia ECM transaction so far this year, and helps push Citi up a notch in the league table to third place.
Southeast Asia issuers have raised a total of $11.8 billion so far this year through 121 deals, down slightly on the $12 billion through 127 issues at this point last year. IHH Healthcare, a Malaysian hospital operator, is slated to complete a $2.7 billion IPO next week.
Goldman Sachs dominates the league table ranking with $6.4 billion, followed by UBS and Citi.
Debt capital markets
Asia ex-Japan G3 DCM volume has reached $78.3 billion in 2012 so far, the highest year-to-date volume on record. Despite this, second-quarter 2012 volume slowed down slightly to $35.9 billion from the $41.9 billion recorded in the first quarter of 2012.
This week saw only one issuer tap the G3 debt capital markets, when Shinhan Bank raised $439 million through bookrunners Morgan Stanley, J.P. Morgan, Mizuho and RBS.
The top three banks in the league table remain unchanged with HSBC taking $11.1 billion, followed by J.P. Morgan and Standard Chartered.
