Equity capital markets
A total of $2.1 billion has been raised from the Asia (ex-Japan) equity capital markets this week through 23 issues, pushing year-to-date volumes to $13.7 billion, down 58% on the same period in 2011. Based on the number of issues, it was the busiest week so far in 2012.
Citi continues to lead the league table ranking with $2.4 billion, followed by J.P. Morgan and Goldman with $1.3 billion and $1.1 billion respectively.
Country Garden’s $400 million follow-on was the biggest deal of the week, through bookrunners Goldman Sachs and J.P. Morgan.
Baida’s sale of a $318 million stake in TPK Holding was the second-biggest transaction of the week, through sole bookrunner J.P. Morgan. Together these deals pushed J.P. Morgan to reach second place in the league table ranking, up from fourth place last week.
Top 10 Asia ex-Japan ECM bookrunner rankings
Debt capital markets
The G3 debt capital markets saw a total of $1.7 billion raised from three deals this week, bringing year-to-date volume to $28.8 billion, up 80% from the $16 billion raised in the comparable 2011 period. Despite the increase, this week’s volume is the lowest of the year so far.
Singapore Telecommunications’ $700 million issue was the largest transaction of the week, led by bookrunners Morgan Stanley, Citi, Deutsche Bank and Bank of America Merrill Lynch.
The top three banks in the league table remain unchanged with HSBC leading on $5.3 billion, followed by J.P. Morgan and Goldman Sachs.
Top 10 Asia ex-Japan DCM bookrunner rankings