Equity capital markets
A total of $1.2 billion has been raised in the Asian equity capital markets through 13 deals this week, up slightly from the $840 million raised in the same period last week and brings year-to-date volume to $79.3 billion, up 9% compared to the $72.5 billion raised in the same 2012 period.
Air Asia X’s $309 million IPO was the biggest deal of the week through bookrunners Barclays, BNP Paribas, CIMB, Citi, Credit Agricole, Credit Suisse, HSBC, Maybank and Morgan Stanley. The deal also stands as the second-biggest Malaysian ECM transaction so far this year.
Malaysian ECM volume stands at $2.1 billion in 2013 year-to-date, down drastically from the $5.2 billion raised in the same 2012 period. This compares with the $18.6 billion raised in the equity capital markets in Southeast Asia — the highest year-to-date level on record and up 72% year-on-year.
The technology sector led issuance this week with a total of five deals raising a combined $317 million — the biggest of which was GCL-Poly Energy Holdings’ $288 million follow-on through sole bookrunner Goldman Sachs.
This brings tech ECM volume in the region to $6.7 billion so far this year, accounting for 9% of Asia (ex-Japan) ECM volume, up 34% on the $5 billion raised in 2012 year-to-date.
Goldman Sachs maintains its lead in the league table ranking with $9.3 billion, followed by UBS and Morgan Stanley.
Debt capital markets
Korea National Oil Corp was the only issuer to tap the Asian G3 debt capital markets in two weeks, for a total of $80 million through sole bookrunner Barclays.
Despite the quiet markets, Asian G3 debt capital markets have a raised a combined $93 billion in 2013 year-to-date, the highest year-to-date level on record and up 20% year-on-year.
The top three banks in the league table ranking remains unchanged with HSBC taking $10.7 billion in 2013 year-to-date, followed by Goldman Sachs and Deutsche Bank.
