Goldman Sachs vs UBS: it's too close to call

UBS closes in on Goldman in the Asia ex-Japan ECM league tables. Pipeline of deals suggests a tight race to the finish.

With six weeks left to Christmas it is already clear that 2006 will be a record year for equity issuance in Asia ex-Japan. As of yesterday, Dealogic counts $95.8 billion worth of deals already completed compared with $94.4 billion in 2005 which was the previous high for a single year.

Unless global equity markets come to another screeching halt over the next few weeks like in May the visible deals in the pipeline should easily push the 2006 issuance above the $100 billion mark helped obviously by ICBC’s record-breaking IPO last month.

And, equally, it will be interesting to see who will clinch the top spot in the league tables this year. Goldman Sachs...

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