Activity in Asian equity markets has totalled $3.9 billion through 18 deals so far this week, up from the $1.6 billion raised in the week prior, which brings year-to-date volume to $48.8 billion, down 21% on the record $61.4 billion raised last year, but still marks the third-highest year-to-date level on record behind 2010 ($58.3 billion).
A $2.5 billion block sale of Industrial & Commercial Bank of China stock by Goldman Sachs, which also acted as sole bookrunner, was the biggest deal to complete this week. The deal marks the third-biggest offering in the region so far this year and fifth-biggest deal globally so far this year. The deal helped Goldman Sachs to land the top spot in the league table ranking with $5.4 billion. UBS and Citi follow.
Citic Securities has edged into seventh position on the league table ranking for its work on a $301 million follow-on for Rizhao Port, which marks the second-biggest offering this week.
Top 10 Asia ex-Japan ECM bookrunner rankings
Debt capital markets
Five Asian borrowers tapped the G3 debt capital markets for a total of $4.6 billion this week, more than double the $2 billion raised in the week prior. It is the busiest weekly total since March 12 ($5.6 billion).
A $2.5 billion sovereign bond for the Republic of Indonesia through Standard Chartered and J.P. Morgan is the biggest offering this week and the second-biggest this year for the region.
Sovereign bond volume has reached $5.7 billion in 2012 so far, up from the $1.5 billion raised in the same 2011 period. Indeed, it is the second-busiest level on record behind 2009 ($8.1 billion). Indonesia leads issuance with $4.2 billion while the Philippines` has issued $1.5 billion so far this year.
The top three banks in the league table ranking remain unchanged, with HSBC taking $7.8 billion, followed closely by J.P. Morgan and Standard Chartered.
Top 10 Asia ex-Japan DCM bookrunner rankings