Equity capital markets
Activity in the equity capital markets stands at $3.1 billion through 17 issues so far this week, up slightly on the $2.8 billion completed through 26 transactions in the week prior.
HSBC has sold its entire stake in India’s Axis Bank and Yes Bank through two separate but simultaneous block trades, raising at least $423 million. Goldman Sachs joined HSBC as a bookrunner. These sell-downs bring India ECM volume to $6.3 billion, down 23% on the $8.2 billion raised during the same period last year.
Hongyuan Securities’ $1.1 billion follow-on was the biggest transaction of the week through bookrunners Ping An Securities,...