Equity Capital Markets
Asia (ex Japan) issuers have raised $5.9 billion through 33 deals this week, compared with $9.2 billion raised in the same period last week.
The largest deal of the week is China Resources Pharmaceutical Group’s $1.8 billion IPO on the Hong Kong Stock Exchange, through a consortium of 14 bookrunners, in what stands as the world’s biggest healthcare IPO in 2016 and also the third largest Asia (ex Japan) listing so far this year, after Postal Savings Bank of China ($7.4 billion) and China Zheshang Bank ($1.9 billion).
Asia (ex Japan) Healthcare ECM volume totals $14.3 billion via 109 deals, down from the same 2015 period ($15.5 billion, 123 deals).
CITIC Securities leads the ECM league table ranking with $15.3 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three with $11.4 billion and $11.3 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 15,332 | 56 | 7.2 |
| 2 | Morgan Stanley | 11,394 | 39 | 5.4 |
| 3 | GF Securities Co Ltd | 11,255 | 44 | 5.3 |
| 4 | China Securities Co Ltd | 8,698 | 46 | 4.1 |
| 5 | Guotai Junan Securities Co Ltd | 8,526 | 59 | 4.0 |
| 6 | Haitong Securities Ltd | 8,423 | 48 | 4.0 |
| 7 | China International Capital Corp Ltd | 8,248 | 34 | 3.9 |
| 8 | Deutsche Bank | 8,164 | 33 | 3.8 |
| 9 | Huatai Securities Co Ltd | 7,360 | 23 | 3.5 |
| 10 | Guosen Securities Co Ltd | 7,175 | 23 | 3.4 |
Debt Capital Markets
Eight Asian issuers have tapped the G3 debt capital markets for a total of $5.8 billion, down from $7.2 billion raised from 13 deals in the same period last week.
The largest deal of the week is a $1.5 billion USD-denominated bond by China Great Wall Asset Management through a consortium of 21 bookrunners. Overall Asia (ex Japan) G3 FIG issuance has reached a YTD record high of $53.3 billion via 105 deals, the highest volume and activity level for the period on record.
HSBC leads the G3 bond league table in Asia (ex Japan) with $18.8 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $14.6 billion and $13.2 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 18,815 | 124 | 9.9 |
| 2 | Citi | 14,586 | 95 | 7.7 |
| 3 | Bank of America Merrill Lynch | 13,222 | 75 | 6.9 |
| 4 | JPMorgan | 10,503 | 66 | 5.5 |
| 5 | Standard Chartered Bank | 9,314 | 68 | 4.9 |
| 6 | Bank of China | 8,122 | 55 | 4.3 |
| 7 | BNP Paribas | 6,995 | 44 | 3.7 |
| 8 | Deutsche Bank | 6,994 | 41 | 3.7 |
| 9 | Goldman Sachs | 6,646 | 30 | 3.5 |
| 10 | Morgan Stanley | 6,158 | 45 | 3.2 |
