Equity Capital Markets
Asia (ex Japan) issuers have raised $3.6 billion through 30 deals so far this week, down slightly on the $4.0 billion last week.
The largest deal of the week was BOC Aviation’s $1.1 billion IPO through bookrunners Bank of China, Goldman Sachs, Morgan Stanley, BNP Paribas and Citi. The deal is the third largest new listing this year globally behind China Zheshang’s $1.9 billion listings in March and MGM Growth Properties’ $1.2 billion float in April.
This deal brings Hong Kong stock exchange new listings* volume to $5.4 billion, down 27% year-on-year. Despite the decline, the Hong Kong stock exchange is the leading destination for global new listings so far this year, Nasdaq and NYSE follow with $3.2 billion and $2.2 billion, respectively.
The top three banks in the league table ranking remain unchanged with CITIC Securities taking $6.3 billion in 2016 YTD. Followed closely by GF Securities with $6.28 billion whileHuatai Securities rounds off the top three with $4.6 billion.
*Includes primary and secondary listings
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 6,303 | 24 | 7.7 |
| 2 | GF Securities | 6,289 | 22 | 7.7 |
| 3 | Huatai Securities | 4,580 | 14 | 5.6 |
| 4 | Haitong Securities | 3,684 | 20 | 4.5 |
| 5 | Guosen Securities | 3,440 | 12 | 4.2 |
| 6 | Guotai Junan Securities | 3,205 | 22 | 3.9 |
| 7 | Southwest Securities | 3,134 | 15 | 3.8 |
| 8 | Morgan Stanley | 3,093 | 18 | 3.8 |
| 9 | China International Capital Corp | 2,996 | 11 | 3.7 |
| 10 | Deutsche Bank | 2,782 | 15 | 3.4 |
Debt Capital Markets
Five issuers have tapped the G3 debt capital markets so far this week raising a total of $3.7 billion, down 36% on the $5.7 billion raised in the prior week.
Export-Import Bank of Korea’s $2.5 billion trade through bookrunners Goldman Sachs, BNP Paribas, Nomura, HSBC, Citi and Bank of America Merrill Lynch is the largest deal of the week. The deal is also the sixth biggest SSA bond in the region in 2016 so far.
G3 issuance by SSA issuers has soared to $33.9 billion in 2016 YTD, up 40% year-on-year and the highest YTD total on record.
HSBC tops the G3 bond league table in Asia (ex Japan) with $9.4 billion. Bank of America Merrill Lynch and Citi follow with $6.6 billion and $6.5 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 9,354 | 51 | 11.7 |
| 2 | Bank of America Merrill Lynch | 6,554 | 26 | 8.2 |
| 3 | Citi | 6,531 | 33 | 8.1 |
| 4 | JPMorgan | 4,594 | 24 | 5.7 |
| 5 | Standard Chartered Bank | 3,965 | 18 | 4.9 |
| 6 | Bank of China | 3,048 | 15 | 3.8 |
| 7 | BNP Paribas | 3,014 | 14 | 3.8 |
| 8 | Morgan Stanley | 2,857 | 13 | 3.6 |
| 9 | Deutsche Bank | 2,742 | 14 | 3.4 |
| 10 | Goldman Sachs | 2,704 | 11 | 3.4 |
