Equity capital markets
The Asian equity markets have raised $3.3 billion through 20 deals so far this week, compared to $5.7 billion in the same period last week.
The largest deal of the week was $1.2 billion follow-on for Power Grid Corp of India through bookrunners State Bank of India, Citi, ICICI Bank, Kotak Mahindra and UBS. The deal is the second biggest Indian ECM deal in 2013 year-to-date behind NTPC’s $2.2 billion follow-on completed in February.
The deal brings India ECM volume to $10 billion so far this year, down 27% from the $13.7 billion raised in the same 2012 period....