Dealogic League Table Round-up Sep 8

Chinese construction issuers driving regional ECM markets this YTD

Equity Capital Markets

Asia (ex-Japan) ECM volume is at $2.8bn via 28 deals this week, down 35% from the $4.3bn via 28 deals completed last week.

On Sep 5, Chinese issuer Beijing Miteno Communication Technology completed a $520.4m follow-on via Sinolink Securities and Hengtai Securities in the largest Asia (ex Japan) ECM transaction this week.

Asia (ex Japan) Construction/Building ECM volume stands at $10.7bn via 103 deals so far this year, up from $8.6bn via 94 deals in 2016 YTD. Chinese issuers account for 74% of total volume with $7.9bn via 32 deals so far in 2017, up from the $4.3bn raised in the same 2016 period.

11 Asia (ex Japan) ECM transactions are expected to price next week (nine IPOs and two follow-ons), for an estimated total of $68m. The largest expected deal is Shin Heung Energy & Electronics’ $23m IPO via sole bookrunner Samsung Securities.

CITIC Securities leads the ECM league table with $8.7bn in 2017 YTD, followed by China International Capital Corp with $8.1bn and Goldman Sachs is third with $7.7bn.

Asia (ex Japan) ECM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 CITIC Securities 8,707.5 53 5.83
2 China International Capital Corp Ltd 8,071.1 40 5.4
3 Goldman Sachs 7,737.1 30 5.18
4 Citi 6,361.8 42 4.26
5 Guotai Junan Securities Co Ltd 5,991.3 40 4.01
6 China Securities Co Ltd 5,929.1 35 3.97
7 UBS 5,007.4 24 3.35
8 Morgan Stanley 4,615.9 26 3.09
9 Haitong Securities Ltd 4,603.2 46 3.08
10 Huatai Securities Co Ltd 4,072.5 25 2.72
SOURCE: Dealogic

Debt Capital Markets

Asia (ex Japan) International issuance has reached $9.6bn this week, up significantly from $1.7bn raised last week.

The largest bond priced this week was Asian Development Bank’s $4.0bn USD-denominated bond.

Weichai Power and Mermac both priced a USD-denominated perpetual bond this week, at $775m and $400m respectively. The latter is the first perpetual bond priced by the issuer via bookrunners Deutsche Bank, HSBC, and JP Morgan, also it is the first bond priced by the issuer this year, since its $200m USD-denominated bond raised on February 14, 2003. 

HSBC leads the G3 DCM league table in 2017 YTD with $20.8bn. This is followed by Citi with $16.5bn and Standard Chartered Bank with $13bn.

Asia (ex Japan) G3 DCM Bookrunner Rankings - 2017 YTD
Pos. Bookrunner Deal Value ($m) No. %share
1 HSBC 20,778.9 145 8.84
2 Citi 16,515.3 114 7.02
3 Standard Chartered Bank 12,952.0 96 5.51
4 Deutsche Bank 11,074.3 62 4.71
5 JPMorgan 10,972.2 75 4.67
6 Bank of China 10,432.4 92 4.44
7 Bank of America Merrill Lynch 9,972.7 63 4.24
8 Goldman Sachs 8,033.5 39 3.42
9 BNP Paribas 7,951.2 53 3.38
10 UBS 7,472.1 66 3.18
SOURCE: Dealogic

 

¬ Haymarket Media Limited. All rights reserved.