Dealogic League Table Round-up April 1

Equity Capital Markets

A total of $952 million has been raised in the Asian equity capital markets through 12 deals this week, down from the $6.8 billion via 31 deals completed in the prior week. Of the 12 deals priced this week, Shanghai Flyco Electrical Appliance’s $128 million IPO is the largest IPO to complete this week on April 1^st, 2016 and marks the tenth biggest new listing* in the region so far this year.

1Q 2016 Asia (ex Japan) ECM volume stood at $51.9 billion, down 10% year-on-year and the lowest 1Q total since 1Q 2014 ($41.6bn). Volume was driven by A-shares with $37.2 billion, a 39% increase on the same 2015 period and the highest quarterly total since 2Q 2015 ($43.3 billion).

Despite the surge in A-shares, the two largest IPOs globally both listed in Hong Kong in 1Q 2016; China Zheshang Bank’s $$1.7 billion IPO and Bank of Tianjin’s $948 million IPO and pushed Chinese issuers to lead global new listings* volume with $5.7 billion in 1Q 2016, less than half the $13.4 billion raised in 1Q 2015.

GF Securities led the regional ECM bookrunner ranking in 1Q 2016 with $4.9 billion. CITIC Securities and Haitong Securities rounded off the top three banks with $3.6 billion and $2.5 billion, respectively.

*includes primary and secondary listings

Debt Capital Markets

Two issuers have tapped the G3 bond markets for $900 million so far this week, down from the $3.4 billion raised in the week prior. Mongolia’s $500 million sovereign bond through bookrunners JPMorgan, Deutsche Bank, ING and Credit Suisse is the largest deal of the week.

1Q 2016 G3 bond volume totaled $43.9 billion, down 22% year-on-year. Despite the decline, G3 SSA issuance increased to $22.5 billion in 1Q 2016, the highest quarterly volume on record and up 36% on 1Q 2015 ($16.6 billion).

China led G3 issuance with $13.0 billion, the lowest 1Q total since 2012 ($4.5 billion) and down 42% on 1Q 2015 ($22.6bn). Followed by the Philippines and South Korea with $10.9 billion and $7.2 billion, respectively.

HSBC topped the1Q 2016 G3 DCM bookrunner ranking in the region with $4.8 billion while Citi and Standard Chartered Bank follow with $3.9 billion and $3.1 billion respectively.