Equity Capital Markets
Asia (ex Japan) issuers have raised $6.7 billion through 34 deals this week, compared with $6.5 billion raised in the same period last week.
The largest deal of the week is Hainan Island Construction’s $2.4 billion private placement through bookrunners Morgan Stanley and China Galaxy Financial Holdings.
Another notable transaction this week is China-based ZTO Express’s IPO for $1.4 billion on the New York Stock Exchange via bookrunners Morgan Stanley, Goldman Sachs, China Renaissance Capital Investment, Citi, Credit Suisse, and JPMorgan. This deal marks the largest US-listed IPO so far this year and the fifth largest IPO by an issuer in Asia (ex Japan) in 2016 YTD.
CITIC Securities leads the ECM league table ranking with $15.7 billion in 2016 YTD. Morgan Stanley and GF Securities complete the top three with $12.8 billion and $11.4 billion, respectively.
| Asia (ex Japan) ECM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | CITIC Securities | 15,671 | 60 | 7.1 |
| 2 | Morgan Stanley | 12,846 | 42 | 5.8 |
| 3 | GF Securities Co Ltd | 11,403 | 45 | 5.2 |
| 4 | China Securities Co Ltd | 8,705 | 46 | 4.0 |
| 5 | China International Capital Corp Ltd | 8,688 | 36 | 3.9 |
| 6 | Guotai Junan Securities Co Ltd | 8,526 | 59 | 3.9 |
| 7 | Haitong Securities Ltd | 8,459 | 49 | 3.8 |
| 8 | Deutsche Bank | 8,232 | 34 | 3.7 |
| 9 | Guosen Securities Co Ltd | 7,739 | 24 | 3.5 |
| 10 | Huatai Securities Co Ltd | 7,525 | 25 | 3.4 |
Debt Capital Markets
12 Asian issuers have tapped the G3 debt capital markets for a total of $5.9 billion, on par with $5.9 billion raised via 10 deals in the same period last week.
The largest deal of the week is a $1.5 billion USD-denominated bond by Azure Nova International Finance through bookrunners Standard Chartered Bank, JPMorgan, HSBC, ANZ, Bank of Communications, and China International Capital Corp.
Chinese issuers lead G3 issuance in the region with $96.8 billion so far this year, up 11% from $87.2 billion in 2015 YTD and the highest YTD level on record.
HSBC leads the G3 bond league table in Asia (ex Japan) with $19.9 billion in 2016 YTD. Citi and Bank of America Merrill Lynch follow with $14.9 billion and $13.5 billion, respectively.
| Asia (ex Japan) G3 DCM Bookrunner Rankings - 2016 YTD | ||||
| Bookrunner | Deal Value ($m) | No. | %share | |
| 1 | HSBC | 19,924 | 132 | 10.1 |
| 2 | Citi | 14,918 | 98 | 7.6 |
| 3 | Bank of America Merrill Lynch | 13,492 | 77 | 6.9 |
| 4 | JPMorgan | 11,046 | 69 | 5.6 |
| 5 | Standard Chartered Bank | 9,930 | 72 | 5.0 |
| 6 | Bank of China | 8,282 | 58 | 4.2 |
| 7 | BNP Paribas | 7,313 | 46 | 3.7 |
| 8 | Deutsche Bank | 7,065 | 42 | 3.6 |
| 9 | Goldman Sachs | 6,845 | 31 | 3.5 |
| 10 | UBS | 6,240 | 55 | 3.2 |
