Equity Capital Markets
Asia (ex Japan) issuers have raised $5.4 billion through 28 deals this week, compared with $6.5 billion raised in the same period last week.
The largest deal of the week is Korea’s Samsung Heavy Industries’ $998 million rights issue through bookrunners Korea Investment & Securities and Mirae Asset Daewoo
The second largest deal was also from Korea, Doosan Bobcat’s $789 million IPO via bookrunners JPMorgan, Korea Investment & Securities, Shin Young Securities, Hanwha Merchant Bank, Credit Suisse, and HSBC
CITIC Securities leads the ECM league table ranking with $16.7 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three with $14.0 billion and $11.7 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 16,668 | 67 | 7.1 |
| 2 | Morgan Stanley | 13,954 | 46 | 5.9 |
| 3 | GF Securities Co Ltd | 11,707 | 48 | 5.0 |
| 4 | Deutsche Bank | 9,192 | 41 | 3.9 |
| 5 | China International Capital Corp Ltd | 8,966 | 38 | 3.8 |
| 6 | China Securities Co Ltd | 8,861 | 48 | 3.8 |
| 7 | Guotai Junan Securities Co Ltd | 8,819 | 62 | 3.7 |
| 8 | Huatai Securities Co Ltd | 8,660 | 32 | 3.7 |
| 9 | Haitong Securities Ltd | 8,526 | 51 | 3.6 |
| 10 | Guosen Securities Co Ltd | 7,739 | 24 | 3.3 |
Debt Capital Markets
Only three Asian issuers have tapped the G3 debt capital markets for a total of $521 million, a sharp decline compared with $3.1 billion raised via 10 deals in the same period last week.
The largest deal of the week is a $500 million USD-denominated bond by China’s Gansu Highway Aviation Tourism Investment Group through bookrunners China Construction Bank Corp – CCB, Barclays, China Merchants Bank, and Bank of China.
This is the slowest week in the Asia G3 bond market since the week of May 30, 2016 when there were two deals for a total of $351 million.
HSBC leads the G3 bond league table in Asia (ex Japan) with $19.6 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $14.9 billion and $13.0 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 19,576 | 134 | 9.8 |
| 2 | Citi | 14,916 | 99 | 7.5 |
| 3 | Bank of America Merrill Lynch | 12,957 | 77 | 6.5 |
| 4 | JPMorgan | 10,730 | 67 | 5.4 |
| 5 | Standard Chartered Bank | 9,968 | 74 | 5.0 |
| 6 | Bank of China | 8,367 | 64 | 4.2 |
| 7 | BNP Paribas | 7,313 | 46 | 3.7 |
| 8 | Deutsche Bank | 6,849 | 42 | 3.4 |
| 9 | Goldman Sachs | 6,451 | 31 | 3.2 |
| 10 | UBS | 6,438 | 57 | 3.2 |
