Equity Capital Markets
A total of $5.4 billion has been raised in the Asian equity capital market this week through 23 deals, up slightly on the $5.1 billion raised in the same period last year.
Volume was led by China Galaxy Securities’s $3.1 billion follow-on through a consortium of 10 bookrunners in what is the fifth biggest ECM transaction in Asia ex Japan in 2015 YTD.
Financial institutions (FIG) ECM issuance in Asia ex Japan has reached $21.2 billion so far this year, more than double the $9.8 billion raised in the same period last year and the highest YTD volume since 2007 ($23.3 billion). China accounts for the majority of the issuance with $15.9 billion, up from just $3.6 billion in 2014 YTD.
Goldman Sachs continues to lead the league table ranking in 2015 YTD with $8.8 billion while UBS and CITIC Securities follow with $5.8 billion and $4.8 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | Goldman Sachs | 8,824 | 21 | 11.2 |
| 2 | UBS | 5,802 | 27 | 7.4 |
| 3 | CITIC Securities | 4,761 | 22 | 6.0 |
| 4 | Credit Suisse | 3,601 | 13 | 4.6 |
| 5 | Morgan Stanley | 3,110 | 21 | 3.9 |
| 6 | China Investment Securities | 2,320 | 7 | 2.9 |
| 7 | JP Morgan | 2,156 | 14 | 2.7 |
| 8 | China Everbright | 1,984 | 6 | 2.5 |
| 9 | Deutsche Bank | 1,856 | 9 | 2.4 |
| 10 | China Securities | 1,817 | 12 | 2.3 |
Debt Capital Markets
Eight issuers tapped the Asian G3 debt capital markets for a total of $6.6 billion so far this week, down from the $11.6 billion raised in the same period last week.
CNOOC Finance’s $3.8 billion trade through a consortium of 11 bookrunners is the largest deal of the week and brings China’s G3 issuance to a record $39.0 billion so far this year, up 15% year-on-year.
HSBC tops the league table ranking with $9.6 billion while Citi and Deutsche Bank follow with $7.8 billion and $5.9 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
| 1 | HSBC | 9,617 | 52 | 11.6 |
| 2 | Citi | 7,801 | 35 | 9.4 |
| 3 | JP Morgan | 5,870 | 28 | 7.1 |
| 4 | Deutsche Bank | 5,498 | 36 | 6.6 |
| 5 | Standard Chartered | 5,354 | 27 | 6.4 |
| 6 | Bank of America Merrill Lynch | 5,318 | 34 | 6.4 |
| 7 | Morgan Stanley | 5,261 | 26 | 6.3 |
| 8 | Bank of China | 2,801 | 17 | 3.4 |
| 9 | Goldman Sachs | 2,795 | 11 | 3.4 |
| 10 | ICBC | 2,651 | 12 | 3.2 |
