There was a total of $901 million of deal activity in Asia’s equity capital markets during the past two weeks through nine issues, down from the $3 billion through 18 issues in the week prior.
The biggest deal of the past two weeks was a $1.3 billion follow-on for Kunlun Energy, completed on April 3 through China International Capital Corp, Citi, Deutsche Bank, Bank of America Merrill Lynch, Morgan Stanley and UBS. The deal marks the seventh-biggest offering in the region so far this year and helped propel UBS to the top spot in the league table ranking with $4.1 billion. Citi and Goldman Sachs follow.
UBS has acted as bookrunner on five other deals during the two-week period, including GT Capital Holdings’ $438 million IPO through UBS and First Metro Investment Corp and Posco’s $285 million sell-down in SK Telecom through UBS, Bank of America Merrill Lynch and Samsung Securities.
GF Securities jumped to 10th place in the league table this week for its work on Goer Tek’s $377 million follow-on, which was the largest deal to complete this week.
Top 10 Asia ex-Japan ECM bookrunner rankings
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Debt capital markets
Three Asian borrowers tapped the G3 debt capital markets for a total of $1.7 billion during the period, up slightly on the $1.3 billion from three trades generated in the week prior. The biggest deal of the week was a $1.1 billion trade for CNPC General Capital through Citi, ICBC, Deutsche Bank, HSBC, Morgan Stanley and Standard Chartered. The deal marks the sixth-biggest trade in the region so far this year and represents the third G3 bond on record for China National Petroleum Corp.
Chinese issuers have raised a total of $5.7 billion so far this year, down 35% on the year-to-date record $8.7 billion raised in 2011 and marks the second-biggest level on record at this time of the year.
HSBC leads the league table ranking with $7.1 billion, followed by J.P. Morgan and Standard Chartered.
Top 10 Asia ex-Japan DCM bookrunner rankings
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