Equity Capital Markets
A total of $2.4 billion from 23 deals has been raised in the equity capital markets so far this week, compared with $3.3 billion raised in the same period last week.
The largest deal of the week was Huishang Bank’s $1.2 billion IPO through 19 bookrunners. The deal is also the fifth largest IPO in the region so far this year. With 19 bookrunners, the deal has the second highest number of bookrunners on record on any ECM transaction globally behind China Galaxy Securities’ $1.1 billion IPO priced in May 2013 with 21 bookrunners.
The league table ranking continues to be led by Goldman Sachs with an 11.3% share, followed by UBS (8.3%) and JP Morgan (5.2%).
Debt Capital Markets
Four issuers tapped the Asian G3 bond markets for a total of $1.8 billion so far this week, up slightly on the $1.5 billion raised in the same period last week with year-to-date issuance standing at $137.1 billion, down 2% year-on-year.
The largest deal of the week was a $1 billion trade for Prosperous Ray through bookrunners HSBC, JPMorgan, UBS, Bank of China, Industrial & Commercial Bank of China, Standard Chartered Bank, Deutsche Bank and Citic Securities. The deal is also the biggest G3 trade in the region from the food & beverage sector on record.
Asian issuers from the food & beverage sector have raised a record $3.1 billion in G3 issuance through five deals so far this year and surpassing historical annual levels on record.
HSBC continues to top the league table ranking with an 11.3% share, followed by Deutsche Bank (8.9%) and Goldman Sachs (8.7%).