Dealogic League Table Round-up December 4

China Energy Engineering Corp prices sixth largest Hong Kong listed new listing in 2015 YTD

Equity Capital Markets

A total of $4.8 billion has been raised in the equity capital markets in Asia (ex Japan) so far this week through 31 deals, compared to the $3.7 billion raised in the same period last week.

The largest deal of the week is China Energy Engineering Corp’s $1.8 billion IPO through bookrunners China International Capital Corp, CITIC Securities, Morgan Stanley, Goldman Sachs, China Construction Bank, China Merchants Bank, HSBC and Nomura.

The deal is the sixth largest new listing* to list on the Hong Kong Stock Exchange so far this year and brings HK-listed new listing volume to $31.2 billion in 2015 YTD, up 41% year-on-year and the highest YTD level since 2010 ($62.9 billion).

Hong Kong leads the global new listings volume by exchange for the first time in five years in 2015 YTD, up from fourth place in 2014 YTD. New York and Nasdaq round off the top three exchanges globally with $19.6 billion and $17.5 billion, respectively.

CITIC Securities remains at the top league table ranking with $17.0 billion. Goldman Sachs and UBS follow with $14.6 billion and $14.2 billion, respectively.

*includes primary and secondary listings and in the case of dual listings, the full value is allocated to each exchange

Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 16,966 64 7.3
2 Goldman Sachs 14,574 52 6.3
3 UBS 14,207 52 6.1
4 Morgan Stanley 10,927 63 4.7
5 Credit Suisse 8,321 48 3.6
6 Guotai Junan Securities 8,121 43 3.5
7 JP Morgan 7,080 35 3.1
8 Haitong Securities 6,760 67 2.9
9 Deutsche Bank 6,475 28 2.8
10 China Merchants Securities  5,847 39 2.5

Debt Capital Markets

Nine issuers have tapped the Asia (ex Japan) G3 capital markets for a total of $6.0 billion so far this week, more than double the $2.4 billion raised in the same period last week and the highest weekly volume since the week of 20th July, 2015 ($8.0 billion).

Republic of Indonesia’s $3.5 billion dual tranche trade through bookrunners HSBC, CIMB Group, Citi and Bank of America Merrill Lynch is the largest deal of the week.

Asia (ex Japan) G3 SSA bond volume has increased to $47.2 billion, the highest YTD total on record and up 11% year-on-year. The increase has been driven by supranational bond issuance with $15.4bn, up 66% on 2014 YTD ($9.3 billion) while sovereign bond issuance also rose 9% during the same period to $18.3 billion.

The top three banks leading the league table remain unchanged with HSBC taking $20.0 billion in 2015 YTD while Citi and Bank of America Merrill Lynch follow with $16.9 billion and $12.9 billion, respectively.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD
  Bookrunner Deal Value ($m) No. %share
1 HSBC 20,046 121 10.8
2 Citi 16,921 91 9.1
3 Bank of America Merrill Lynch 12,910 79 7.0
4 JP Morgan 12,035 67 6.5
5 Deutsche Bank 11,046 72 6.0
6 Standard Chartered Bank 10,489 62 5.7
7 Goldman Sachs 7,758 36 4.2
8 Morgan Stanley 7,446 43 4.0
9 Bank of China 6,538 55 3.5
10 BNP Paribas 6,076 45 3.3

 

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