Equity Capital Markets
Activity slowed in the equity capital markets with only $34 million raised from five trades, bringing year-to-date volume to $8.9 billion from 42 trades. The volume is up just 6% on the comparable period last year while the number of deals is down 52%. Total IPO volume dropped 98% to just $57 million from six issues year-to-date.
Bank of America-Merrill Lynch maintains its lead in the league table ranking with $1.9 billion from two issues, followed by UBS and Morgan Stanley with $1.8 billion and $1.5 billion respectively.
Ascendas Real Estate Investment Trust (A-REIT) is expected to price late this week or early next week, raising a total of S$79 million via joint bookrunners Citigroup and Macquarie.
Debt Capital Markets
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