Equity Capital Markets
Issuance in the equity capital markets more than doubled this week to $6.8 billion, fuelled by the $3.3 billion initial public offering for Maxis. Regional volume for the year so far stands at $122.7 billion -- an increase of 51% over the same period last year. Activity of 1,099 issues is up 41% year-on-year.
Morgan Stanley holds on to the top spot in the league table ranking on $11.5 billion, followed by UBS with $10.6 billion and Goldman Sachs on $10.0 billion.
AmInvestment Bank, CIMB Group, Credit Suisse, Goldman Sachs, J.P. Morgan, Maybank Investment Bank, Nomura, RHB Capital and UBS ran the books for Maxis, which was the biggest deal of the week and the largest IPO in Southeast Asia on record.
China Merchants Securities raised $1.6 billion from its A-share IPO via bookrunners Goldman Sachs and UBS. The Swiss house moved up a notch in the ranking and Goldman Sachs jumped two places from fifth last week, after being involved in the two largest deals this week.
A handful of large deals are scheduled to price next week, including China Minsheng Banking Corp's $3.9 billion H-share IPO led by Bank of China, China International Capital Corp, Haitong Securities, Macquarie Group and UBS; the $2.9 billion IPO for Sands China via Barclays Capital, BNP Paribas, Citi, Goldman Sachs and UBS; and CapitaMalls Asia's $1.8 billion IPO through bookrunners Credit Suisse, DBS, Deutsche Bank and J.P. Morgan.
Debt Capital Markets
A total of $3.1 billion was raised in the debt capital markets this week from two trades -- the highest weekly volume seen in over two months. The league table ranking remains unchanged with Deutsche Bank leading the field on $8.8 billion, followed by HSBC and Barclays Capital on $7.5 billion and $5.4 billion respectively.
Calyon, Deutsche Bank and HSBC printed a $2.6 billion trade for Hutchison Whampoa -- the largest deal of the week; and Oversea-Chinese Banking Corp raised $500 million via bookrunners Credit Suisse, Goldman Sachs, Morgan Stanley and Oversea-Chinese Banking Corp.