Equity Capital Markets
A total of $3.3 billion was raised via 19 issues in the equity capital markets this week. The top three rankings in the league table remain unchanged with China International Capital Corp (CICC), Citic Securities and Goldman Sachs leading the field on $10.0 billion, $8.7 billion and $7.9 billion respectively.
The $1.2 billion accelerated bookbuild for Ping An Insurance (Group) was the largest issue of the week. The deal was led by Morgan Stanley, which remains in sixth place in the league table on $7.4 billion.
Indonesia’s Indo Tambangraya Megah raised $394 million from a follow-on offering via bookrunners Goldman Sachs, Mandiri Sekuritas, Bahana Securities and Danareksa Sekuritas; while Hyundai Home Shopping Network completed a $226 million IPO led by Hyundai Securities, HI Investment & Securities, HMC Investment Securities and Woori Investment & Securities.
Citi moved into the top 10 to sit in ninth place with $4.7 billion on the back of a $124 million accelerated bookbuild for Xingda International Holdings that the US bank ran on a sole basis.
Debt Capital Markets
Activity in the debt capital markets picked up this week with five deals raising $1.3 billion. Deutsche Bank continues to sit at the top of the league table with $5.5 billion, followed by UBS on $4.7 billion and Morgan Stanley with $4.5 billion.
Korea Development Bank’s $900 million bond was the largest deal of the week and led by Barclays Capital, Citi, Credit Agricole CIB, Deutsche Bank, J.P. Morgan and KDB. Citi, Barclays and J.P. Morgan occupy the fifth, sixth and seventh rungs in the league table rankings respectively.