Equity Capital Markets
A total of $3.5 billion has been raised in the equity capital markets in Asia (ex Japan) so far this week through 24 deals, up 58% on the same period last week and the highest weekly level in almost a month (Week of October 19th with $5.9 billion)
The largest deal this week is Dali Food Group’s $1.1 billion IPO through bookrunners Morgan Stanley and Bank of America Merrill Lynch. The deal is also the biggest Food & Beverage IPO globally since WH Group’s $2.4 billion IPO in July 2014.
The deal pushes HK-listed new listings to $27.6 billion so far this year, up 37% year-on-year and the highest YTD total since 2011 ($28.4bn)
CITIC Securities remains at the top of league table ranking with $16.3 billion. UBS and Goldman Sachs follow with $14.1 billion and $13.5 billion, respectively.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | CITIC Securities | 16,291 | 60 | 7.3 |
| 2 | UBS | 14,102 | 50 | 6.3 |
| 3 | Goldman Sachs | 13,549 | 45 | 6.1 |
| 4 | Morgan Stanley | 10,428 | 58 | 4.7 |
| 5 | Credit Suisse | 7,997 | 47 | 3.6 |
| 6 | Guotai Junan Securities Co Ltd | 7,912 | 39 | 3.6 |
| 7 | JPMorgan | 7,004 | 33 | 3.2 |
| 8 | Haitong Securities Ltd | 6,488 | 62 | 2.9 |
| 9 | Deutsche Bank | 6,465 | 28 | 2.9 |
| 10 | China Merchants Securities Co Ltd | 5,595 | 35 | 2.5 |
Debt Capital Markets
Six issuers have tapped the Asia (ex Japan) G3 capital markets for a total of $2.1 billion so far this week, down from the $3.8 billion raised through seven deals in the same period last week.
SP PowerAssets’ $700 million trade through bookrunners Deutsche Bank, Morgan Stanley, BNP Paribas and DBS is the largest deal of the week. The deal is the fourth largest Singapore G3 bond so far this year and the largest Southeast Asia G3 bond from the Utility & Energy sector in 2015 so far.
Singapore G3 bond volume has reached $6.2 billion in 2015 YTD, down 24% year-on-year
Another Singaporean issuer, STATS ChipPAC also raised $425 million through a high yield bond this week through bookrunners ING, DBS and Barclays. The deal marks the biggest high yield bond from the Tech sector in Asia (ex Japan) so far this year.
Four high yield bonds have priced in the region in November so far, raising $1.0 billion. This comes after a lull in the market when there was no issuance in the last two months and only $697 million was raised through two deals in August 2015. Asia (ex Japan) high yield bond volume has dropped to $10.8 billion in 2015 YTD, down from the $23.9 billion raised in 2014 YTD.
HSBC continues to lead the league table ranking with $17.9 billion in 2015 YTD while Citi and JPMorgan follow with $15.6 billion and $11.8 billion, respectively.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | HSBC | 17,915 | 114 | 10.2 |
| 2 | Citi | 15,611 | 87 | 8.9 |
| 3 | JPMorgan | 11,877 | 65 | 6.7 |
| 4 | Bank of America Merrill Lynch | 11,252 | 72 | 6.4 |
| 5 | Deutsche Bank | 10,947 | 71 | 6.2 |
| 6 | Standard Chartered Bank | 10,260 | 59 | 5.8 |
| 7 | Goldman Sachs | 7,758 | 36 | 4.4 |
| 8 | Morgan Stanley | 7,446 | 43 | 4.2 |
| 9 | Bank of China | 6,306 | 51 | 3.6 |
| 10 | BNP Paribas | 5,718 | 43 | 3.2 |
