Equity capital markets
The Asian equity markets have raised $2.9 billion through 12 deals during the past week, compared to $2 billion raised during the same period the previous week.
The biggest deal of the week was a $2.1 billion IPO for BTS Rail Mass Transit Growth Infrastructure Fund through bookrunners Morgan Stanley, UBS and Phatra Securities in what is Thailand’s biggest IPO on record and the second-largest listing globally behind Zoetis’ $2.6 billion IPO priced in January. The deal pushes Morgan Stanley to third place in the league table ranking.
The other notable deal of the week was SapuraKencana Petroleum’s $531 million follow-on through CIMB and Maybank in what was the biggest Malaysian ECM deal so far this year, and the third-biggest oil-and-gas deal in the region in 2013.
Southeast Asia ECM volume totals a record $10.7 billion in 2013 year-to-date, more than double the $4.8 billion raised in the same 2012 period.
Debt capital markets
This week saw zero issuance in the Asian G3 capital markets, compared to the $6.3 billion raised in the same period last week.
The biggest deal to complete last week was a $1.5 billion trade for TSMC Global through sole bookrunner Goldman Sachs in what was the largest G3 trade from a Taiwanese issuer on record.