Dealogic League Table Round-up December 18

Citic Securities and HSBC continue to lead the equity capital markets and debt capital markets, respectively.

Equity Capital Markets

A total of $4.6 billion has been raised in the equity capital markets in Asia (ex Japan) so far this week through 36 deals, compared to the $9.5 billion raised in the same period last week and brings Asia (ex Japan) ECM volume to $247.7 billion in 2015 YTD, the highest annual total since 2010 ($311.7bn) and up 4% year-on-year.

The largest deal of the week is Dongxu Optoelectronic Technology’s $1.2 billion follow-on through sole bookrunner Southwest Securities. The deal is also the second biggest in the Tech sector in Asia (ex Japan) behind Nanjing Huadong Electronics Information & Technology’s $1.7 billion follow-on in January, 2015.

Tech ECM issuance in the region stands at $21.6 billion so far this year, down significantly from the record $63.0 billion raised in the same 2014 period.

South Korean cosmetic company, It’s Skin, has completed a $136 million IPO through bookrunners KDB Daewoo Securities and Samsung Securities this week in what is the eighth largest IPO from a South Korean issuer in 2015 YTD.

South Korean ECM volume has reached $10.5 billion in 2015 YTD, down 44% on 2014 YTD ($13.7 billion). IPOs account for 34% of total volume with $3.6 billion in 2015 so far, and volume is down 10% year-on-year.

Citic Securities remains at the top league table ranking with $17.4 billion. Goldman Sachs and UBS follow with $15.2 billion and $14.2 billion, respectively.

Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 Citic Securities 17,438 70 7.0
2 Goldman Sachs 15,258 55 6.2
3 UBS 14,207 52 5.7
4 Morgan Stanley 11,388 66 4.6
5 Guotai Junan Securities Co Ltd 9,288 48 3.8
6 Credit Suisse 8,454 50 3.4
7 JPMorgan 8,007 38 3.2
8 Haitong Securities Ltd 7,865 72 3.2
9 Deutsche Bank 6,692 31 2.7
10 China Securities Co Ltd 6,148 32 2.5

Debt Capital Markets

Indonesian issuer, Aeronautic Investments 18 Ltd, was the only issuer to tap the G3 bond markets this week for a $144 million, compared to $4.0 billion via six deals in the same period last week. Overall G3 bond volume in region totals $194.3 billion in 2015 YTD, down 10% year-on-year and marked the first year-on-year decline since 2011 ($81.1 billion).

G3 issuance from Indonesian issuers has reached $14.3 billion so far this year, already the highest annual volume on record.

HSBC continues to lead the league table ranking with $20.4 billion in 2015 YTD while Citi and Bank of America Merrill Lynch follow with $17.4 billion and $13.1 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 20,427 122 10.5
2 Citi 17,401 93 9.0
3 Bank of America Merrill Lynch 13,060 81 6.7
4 JPMorgan 12,582 69 6.5
5 Deutsche Bank 11,212 73 5.8
6 Standard Chartered Bank 10,870 63 5.6
7 Morgan Stanley 8,043 46 4.1
8 Goldman Sachs 7,858 37 4.0
9 Bank of China 6,538 55 3.4
10 BNP Paribas 6,219 46 3.2

 

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