Equity Capital Markets
A total of $3.2 billion has been raised in the equity capital markets in Asia (ex Japan) so far this week through 17 deals, compared to the $3.7 billion raised in the same period last week.
Bank of Qingdao’s $607 million IPO through a consortium of 11 bookrunners was the largest deal of the week.
It brings Asia (ex Japan) FIG new listings* volume to $24.0 billion so far this year, compared to $1.9 billion in the same period last year and the highest YTD total since 2010 ($55.2 billion)
CITIC Securities continues to lead league table ranking with $16.4 billion. UBS and Goldman Sachs follow with $14.2 billion and $14.1 billion, respectively.
*includes primary and secondary listings
| Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 16,358 | 61 | 7.2 |
| 2 | UBS | 14,207 | 52 | 6.3 |
| 3 | Goldman Sachs | 14,146 | 47 | 6.2 |
| 4 | Morgan Stanley | 10,701 | 62 | 4.7 |
| 5 | Credit Suisse | 8,321 | 48 | 3.7 |
| 6 | Guotai Junan Securities | 8,104 | 41 | 3.6 |
| 7 | JP Morgan | 7,080 | 35 | 3.1 |
| 8 | Haitong Securities | 6,740 | 66 | 3.0 |
| 9 | Deutsche Bank | 6,475 | 28 | 2.9 |
| 10 | China Merchants Securities | 5,848 | 39 | 2.6 |
Debt Capital Markets
Eight issuers have tapped the Asia (ex Japan) G3 capital markets for a total of $2.4 billion so far this week, down from the $3.2 billion raised in the same period last week.
The largest deal of the week is a $600 million Corp IG bond for Guangzhou Metro Investment Finance (BVI) Ltd through bookrunners HSBC, China Minsheng Banking Corp, China Construction Bank Corp, Bank of Communications, Bank of China and Guangzhou Yuexiu Holdings.
Asia (ex Japan) G3 Corp IG bond volume totals $74.0 billion so far this year, down 14% on the record $86.2 billion raised in 2014 YTD. Chinese issuers account for more than half the issuance with $45.5bn, but volume is still down 12% year-on-year.
HSBC leads the league table ranking with $19.0 billion in 2015 YTD while Citi and Bank of America Merrill Lynch follow with $16.0 billion and $11.9 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 19,042 | 118 | 10.6 |
| 2 | Citi | 15,951 | 89 | 8.8 |
| 3 | Bank of America Merrill Lynch | 11,940 | 77 | 6.6 |
| 4 | JP Morgan | 11,935 | 66 | 6.6 |
| 5 | Deutsche Bank | 10,947 | 71 | 6.1 |
| 6 | Standard Chartered Bank | 10,318 | 60 | 5.7 |
| 7 | Goldman Sachs | 7,758 | 36 | 4.3 |
| 8 | Morgan Stanley | 7,446 | 43 | 4.1 |
| 9 | Bank of China | 6,433 | 53 | 3.6 |
| 10 | BNP Paribas | 6,076 | 45 | 3.4 |
