Equity Capital Markets
Asia (ex Japan) issuers have raised $2.4 billion through 20 deals so far this week, down on the $7.4 billion raised in the same period last week.
The largest deal of the week is Bank of Guiyang’s $640 million IPO priced on August 3 on the Shanghai Stock Exchange, through sole bookrunner China Securities. This is also the second largest A-share IPO in 2016 YTD, after Bank of Jiangsu’s $1.1billion listing on June 28.
Asia (ex Japan) Finance ECM volume totals $18.0bn in 2016 YTD, down to about one third the amount raised in the same 2015 period ($51.9bn). China accounts for 82% of the region’s Finance ECM issuance with $14.8bn so far this year, while volume is down 65% from 2015 YTD ($42.8bn).
CITIC Securities remains at the top of league table ranking with $13.2 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three rankings with $8.9 billion and $8.2 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 13,186 | 43 | 9.5 |
| 2 | Morgan Stanley | 8,930 | 31 | 6.4 |
| 3 | GF Securities Co Ltd | 8,220 | 30 | 5.9 |
| 4 | Deutsche Bank | 6,960 | 24 | 5.0 |
| 5 | Huatai Securities Co Ltd | 5,663 | 18 | 4.1 |
| 6 | Guotai Junan Securities Co Ltd | 5,475 | 42 | 3.9 |
| 7 | Southwest Securities Co Ltd | 5,460 | 22 | 3.9 |
| 8 | China International Capital Corp Ltd | 5,306 | 23 | 3.8 |
| 9 | Haitong Securities Ltd | 5,039 | 32 | 3.6 |
| 10 | China Securities Co Ltd | 4,739 | 24 | 3.4 |
Debt Capital Markets
Seven Asian issuers have tapped the G3 debt capital markets for a total of $2.0 billion, down from the $3.5billion raised in the same period last week.
The largest deal this week is Industrial & Commercial Bank of China’s $500 million USD-denominated bond via joint bookrunners Standard Chartered Bank, Industrial & Commercial Bank of China and DBS.
Total Asia (ex Japan) G3 issuance stands at $130.6 billion via 235 deals, down from the YTD record high of $143.8 billion from 280 deals in 2015 and the lowest volume and deal activity for the period since 2013 ($99.3 billion, 195 deals).
HSBC leads the G3 bond league table in Asia (ex Japan) with $13.4 billion. Bank of America Merrill Lynch and Citi follow with $9.8 billion and $9.3 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 13,435 | 84 | 10.3 |
| 2 | Bank of America Merrill Lynch | 9,801 | 50 | 7.5 |
| 3 | Citi | 9,311 | 55 | 7.2 |
| 4 | Standard Chartered Bank | 6,858 | 43 | 5.3 |
| 5 | JPMorgan | 6,753 | 38 | 5.2 |
| 6 | Bank of China | 5,814 | 34 | 4.5 |
| 7 | Deutsche Bank | 5,035 | 25 | 3.9 |
| 8 | BNP Paribas | 4,537 | 25 | 3.5 |
| 9 | Barclays | 4,386 | 24 | 3.4 |
| 10 | Industrial & Commercial Bank of China - ICBC | 4,064 | 34 | 3.1 |
