Equity Capital Markets
Asia (ex Japan) issuers have raised a total of $2.8bn through 18 deals this week, up 33% compared to $2.1bn last week via 16 deals.
The largest deal of the week was an IPO by Pinduoduo for $1.6bn via Credit Suisse, Goldman Sachs, and China International Capital Corp.
Asia (ex Japan) technology IPO volume reached its highest level on record with $11.6bn via 63 deals in 2018 YTD, up 64% from $7.1bn (via 66 deals) in 2017YTD. Pinduoduo Inc IPO is the second largest IPO in this YTD.
Goldman Sachs leads the ECM league table with $12.0bn followed by Citi with $10.4bn and Morgan Stanley with $8.7bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | Goldman Sachs | 12,046.4 | 45 | 8.75 |
| 2 | Citi | 10,431.9 | 53 | 7.58 |
| 3 | Morgan Stanley | 8,738.4 | 33 | 6.35 |
| 4 | China International Capital Corp Ltd | 8,032.9 | 28 | 5.84 |
| 5 | China Securities Co Ltd | 7,436.6 | 29 | 5.40 |
Debt Capital Markets
Asia (ex Japan) international DCM totaled $7.0bn via 15 deals this week, up 49% from the week before with $4.7bn via 21 deals.
The largest deal of the week goes to Temasek Financial (I) with $1.4bn proceeds via Bank of Merrill Lynch, Citi, HSBC, and Morgan Stanley.
USD-denominated bonds continue to dominate the market, but compared to 2017 YTD volume ($192.1bn via 331 deals), 2018 YTD volume stands at $152.2bn via 317 deals, showing a 21% decrease while Euro-denominated bonds showed 13% increase in 2018 YTD with $16.5bn via 30 deals compared to 2017 YTD with $14.6bn via 26 deals.
HSBC continues to lead the international DCM league with $16.3bn. This is followed by Citi with $11.4bn and Standard Chartered Bank with $9.5bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | HSBC | 16,285.7 | 143 | 8.39 |
| 2 | Citi | 11,434.2 | 90 | 5.89 |
| 3 | Standard Chartered Bank | 9,479.9 | 96 | 4.89 |
| 4 | Bank of China | 8,320.7 | 90 | 4.29 |
| 5 | JPMorgan | 7,129.1 | 47 | 3.67 |
