Equity Capital Markets
Korean company SNU Precision is the only issuer to tap the Asian equity capital markets so far this week with an $11 million rights offering through sole bookrunner Korea Investment & Securities. This compares to 26 deals raising a total of $5 billion in the region from last week.
South Korean issuers have raised a combined $1.6bn via 17 ECM deals so far this year, up from $1.5 billion via six deals in 2015 YTD and the highest volume for the period since 2006 ($4.3bn). Overall Asia (ex Japan) ECM volume totals $33.2bn in 2016 YTD, with China accounting for 91% of the issuance; South Korea follows with 5%.
GF Securities leads the bookrunner ranking with $4.6 billion in 2016 YTD, while CITIC Securities and Guosen Securities follow with $2.4 billion and $2.1 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | GF Securities Co Ltd | 4,579 | 9 | 13.8 |
| 2 | CITIC Securities | 2,427 | 8 | 7.3 |
| 3 | Guosen Securities Co Ltd | 2,137 | 6 | 6.4 |
| 4 | Haitong Securities Ltd | 2,038 | 11 | 6.1 |
| 5 | Deutsche Bank | 1,774 | 7 | 5.4 |
| 6 | China International Capital Corp Ltd | 1,662 | 7 | 5.0 |
| 7 | Sinolink Securities Co Ltd | 1,587 | 2 | 4.8 |
| 8 | Huatai Securities Co Ltd | 1,307 | 7 | 3.9 |
| 9 | Guotai Junan Securities Co Ltd | 1,263 | 10 | 3.8 |
| 10 | Industrial Securities Co Ltd | 1,146 | 6 | 3.5 |
Debt Capital Markets
There have been no G3 DCM deals in Asia (ex Japan) so far this week, while three issuers tapped the market for $983 million in the previous week.
Total G3 issuance in the region has reached $18.3 billion via 34 deals so far this year. Volume more than halved compared to $37.3 billion (57 deals) from the same period in 2015, and the level is the lowest for the period since 2011 ($9.8 billion).
HSBC leads the G3 DCM bookrunner ranking in 2016 YTD with $2.3 billion while Bank of America Merrill Lynch and JPMorgan follow with $1.9 billion and $968 million, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 2,289 | 12 | 12.5 |
| 2 | Bank of America Merrill Lynch | 1,918 | 7 | 10.5 |
| 3 | JPMorgan | 968 | 6 | 5.3 |
| 4 | Morgan Stanley | 940 | 3 | 5.2 |
| 5 | Standard Chartered Bank | 853 | 6 | 4.7 |
| 6 | Bank of China | 847 | 5 | 4.6 |
| 7 | TD Securities Inc | 810 | 1 | 4.4 |
| 8 | Credit Suisse | 567 | 4 | 3.1 |
| 9 | Citi | 551 | 5 | 3.0 |
| 10 | CITIC Securities | 496 | 1 |
2.7 |
