Equity Capital Markets
A total of $1.3 billion has been raised in the Asian equity capital market this week through 15 deals, compared to the $7.8 billion raised in the same period last week.
The largest deal of the week is Humanwell Healthcare Group’s $418 million follow-on through Donghai Securities and TF Securities. The deal is also the largest Asia ex Japan healthcare sector ECM transaction since CSPC Pharmaceutical Group’s $484 million follow-on in May 2014.
Asia ex Japan healthcare ECM volume totals $2.5 billion so far this year, the strongest start to a year on record and up 23% year-on-year.
Another notable deal slated to price today is the estimated $1 billion selldown in Habib Bank by the Pakistan government. If completed successfully, the deal would be the largest ECM transaction in Pakistan on record.
Goldman Sachs leads the bookrunner ranking with $5 billion for 2015 YTD. UBS and CITIC Securities followed with $4.4 billion and $3.6 billion, respectively.
Asia (ex Japan) ECM Bookrunner Rankings - 2015 YTD | ||||
Pos. | Bookrunner | Deal Value ($m) | No. | %share |
1 | Goldman Sachs | 4,965 | 18 | 8.4 |
2 | UBS | 4,449 | 21 | 7.5 |
3 | CITIC Securities | 3,607 | 18 | 6.1 |
4 | Credit Suisse | 2,486 | 10 | 4.2 |
5 | Morgan Stanley | 2,417 | 16 | 4.1 |
6 | China Investment Securities | 2,299 | 6 | 3.9 |
7 | JP Morgan | 2,077 | 13 | 3.5 |
8 | China Everbright | 1,804 | 4 | 3.0 |
9 | Guotai Junan Securities | 1,469 | 8 | 2.5 |
10 | Citi | 1,372 | 7 | 2.3 |
Debt Capital Markets
Shinhan Bank is the only issuer to tap the Asia ex Japan G3 debt capital market this week for $600 million through bookrunners JPMorgan, Deutsche Bank, BNP Paribas, HSBC, Bank of America Merrill Lynch and Credit Agricole CIB, compared to the $975 million raised in the same period last week.
FIG issuers have raised a combined total of $12.8 billion through 29 transactions in the G3 DCM markets so far this year, the highest YTD volume and deal activity on record and up 21% on from the $10.6 billion raised via 24 deals in 2014 YTD.
The top three banks in the league table ranking remain unchanged with HSBC taking $6.5 billion while Citi and Deutsche Bank held $5.2 billion and $4.4 billion, respectively.
Asia (ex Japan) G3 DCM Bookrunner Rankings - 2015 YTD | ||||
Pos. | Bookrunner | Deal Value ($m) | No. | %share |
1 | HSBC | 6,501 | 39 | 11.7 |
2 | Citi | 5,244 | 24 | 9.4 |
3 | Deutsche Bank | 4,362 | 28 | 7.8 |
4 | JP Morgan | 4,029 | 22 | 7.2 |
5 | Bank of America Merrill Lynch | 3,996 | 28 | 7.2 |
6 | Morgan Stanley | 3,481 | 19 | 6.3 |
7 | Standard Chartered | 3,291 | 18 | 5.9 |
8 | Goldman Sachs | 2,026 | 9 | 3.6 |
9 | ICBC | 1,695 | 9 | 3.0 |
10 | Credit Suisse | 1,572 | 9 | 2.8 |