Equity capital markets
Activity in the equity capital markets totalled $6 billion through 22 issues so far this week, more than double the $2.5 billion raised in the same period last week, which brings 2012 volume in the region to $146 billion, down 4% from the $154.5 billion raised during the same 2011 period.
PICC’s $3.1 billion IPO completed on November 30 was the biggest ECM deal of the week and also marks the fifth-biggest new listing globally so far this year. The deal also stands as the second-largest new listing in the region so far this year.
The other notable transaction of the week was a $1 billion follow-on for Hong Kong Exchanges & Clearing through bookrunners Deutsche Bank, HSBC and UBS. This deal pushes accelerated bookbuild* volume in the region to $49.9 billion in 2012 year-to-date, nearly double the $26.6 billion reached in the same 2011 period. The deal also marks the second-biggest block trade* with 100% primary shares offered in the region in 2012 year-to-date after Maybank’s $1.2 billion accelerated offering completed in October 2012.
UBS continues to lead the league table rankings with $11.8 billion, followed by Goldman Sachs and Citi.
* Includes accelerated bookbuilds and bought deals
Debt capital markets
Four issuers raised a total of $4.2 billion in the G3 debt capital markets this week, up from the $1.6 billion raised during the previous week.
The biggest transaction of the week was a $1.5 billion sovereign issue for Mongolia through bookrunners Deutsche Bank, HSBC, J.P. Morgan, Bank of America Merrill Lynch and TDB Capital.
The deal brings G3 sovereign DCM volume to $9.2 billion so far this year, up 5% year-on-year, and marks the highest year-to-date level since 2009 ($10.3 billion)
The top three banks leading the league table remains unchanged with HSBC taking $18.3 billion, followed by J.P. Morgan and Citi.
