Equity Capital Market
There were only a handful of deals this week as the market sits back and waits for the roughly $2 billion IPO for Ping An, set to price today. Goldman was sole lead on the largest deal of the week, a $200 million IPO for Tencent Holdings of China, which priced last Friday. This still leaves the second placed US house some $800 million behind leader Morgan Stanley.
As both banks are joint bookrunners on the Ping An offering, along with Bank of China and HSBC, it seems likely Morgan Stanley will end the first half at the summit.
In the lower reaches of the table, HSBC is set to move...