Equity capital markets
Activity in the equity capital markets totalled just $156 million from seven issues this week, down from the $1.1 billion raised through 10 deals in the week prior and marks the lowest weekly level since March 2 last year ($20 million from seven deals).
The biggest deal of the week was Xizang Haisco Pharmaceutical Group’s $127 million initial public offering, which places bookrunner Citic Securities to the top of the league table ranking for the first week of 2012.
Last week saw Goldman Sachs cap off 2011 at the top of the Asia ex-Japan ECM league table with $13.2 billion. Morgan Stanley and UBS rounded out the top three on $9.9 billion and $7.5 billion respectively.
Regional issuance reached $167.1 billion in 2011, almost half the record $311.7 billion raised in Asia ex-Japan during 2010. Four out of the top 10 global new listings in 2011 were from issuers in the region, led by Hutchison Port Holdings’ $5.5bn IPO completed in March.
Asia ex-Japan ECM bookrunner rankings
Debt capital markets
Two Asian borrowers raised $3.7 billion in the G3 debt capital markets this week, up from just $175 million generated in the week before. HSBC starts off the New Year at the top of the league table with $561 million, followed by Deutsche Bank and Citi.
A $2.2 billion trade for Export-Import Bank of Korea was the largest trade of the week through bookrunners Citi, Royal Bank of Scotland, BS, BNP Paribas, HSBC and Bank of America Merrill Lynch.
Last week, HSBC topped the 2011 league table ranking with $10.2 billion, followed by Citi and Deutsche Bank on $7 billion and $6 billion respectively.
Regional volume totaled $83.9 billion in 2011, down 5% on the record $88.1 billion raised in Asia ex-Japan during 2010. The biggest deal of the year was Asian Development Bank’s $2.75 billion bond through Goldman Sachs, HSBC, J.P. Morgan and RBC Capital Markets in May.
Asia ex-Japan DCM bookrunner rankings