Dealogic League Table Round-up December 14

Tencent Music Entertainment completed a $1.1 billion IPO and Chimao Property Holdings issues the largest bond this week with a $570 million issue.

  Equity Capital Markets

Asia (ex Japan) ECM volume stands at $2.9bn via 25 deals so far this week compared to the $3.5bn via 36 deals completed in the previous week.

Chinese issuer Tencent Music Entertainment completed a $1.1bn IPO via a consortium of five bookrunners in what is the largest Asia (ex Japan) ECM transaction this week. Despite being priced at the low end of its $13 to $15 initial ADS filing range, the closing one-day up 7.7%. Tencent Music's IPO is the fourth largest US-listed Chinese IPO this YTD.

Asia (ex Japan) Chinese IPO volume stands at $9.2bn via 33 deals in 2018 YTD, up 149% from the $3.7bn raised in the same period last year. TMT accounts for 76.6% of the total issuance with $7.0bn via 21 deals.

Goldman Sachs leads Asia (ex Japan) ECM market with $16.7bn, followed by Citi with $12.8bn and Morgan Stanley with $12.0bn. 

Asia (ex Japan) ECM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 Goldman Sachs 16,716.60 72 8.07
2 Citi 12,803.58 82 6.18
3 Morgan Stanley 12,056.62 59 5.82
4 China International Capital Corp Ltd 11,749.46 49 5.67
5 China Securities Co Ltd 10,496.93 45 5.15
6 Credit Suisse 8,139.04 64 4.00
7 CITIC Securities 7,940.18 56 3.83
8 Huatai Securities Co Ltd 7,732.97 34 3.74
9 JPMorgan 7,682.44 52 3.67
10 Bank of America Merrill Lynch 7,661.10 26 3.70
SOURCE: Dealogic

Debt Capital Markets

Asia (ex Japan) international DCM volume stands at $2.9bn via 10 deals so far this week compared to $8.8bn via 19 deals in the previous week.       

Chinese issuer Chimao Property Holdings issued a bond with $570m proceeds via Goldman Sachs, HSBC, Morgan Stanley, and UBS in what is the largest Asia (ex Japan) international DCM transaction this week.

In Asia (ex Japan) International DCM, USD-denominated bond has reached $244.0bn via 537 deals, still behind the largest volume on record in 2017 YTD with $328.7bn via 586 deals. China continues to issue the largest volume of USD-denominated bond in the region with $154.3bn via 317 deals compared to second largest, Korea, with $23.1bn via 86 deals.

HSBC leads the Asia (ex Japan) international DCM league with $27.0bn. This is followed by Citi with $18.4bn and Standard Chartered Bank with $15.8bn.

Asia (ex Japan) International DCM Bookrunner Rankings - 2018 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 26,959.20 257 8.39
2 Citi 18,373.48 150 5.72
3 Standard Chartered Bank 15,828.07 163 4.97
4 Bank of China 13,487.68 163 4.20
5 DBS 12,794.92 122 3.98
6 JPMorgan 11.098.31 88 3.50
7 BNP Paribas 11.051.80 104 3.47
8 Credit Agricole CIB 10,527.00 114 3.31
9 Goldman Sachs 10,504.80 56 3.27
10 Bank of America Merrill Lynch 9,781.45 73 3.04
SOURCE: Dealogic




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