Equity Capital Markets
In the largest week since the lunar new year holiday, a total of $2.78 billion was raised from 26 offerings. Yet despite this intense activity, there was very little movement in the ECM league table.
Morgan Stanley did, however, close the gap on leader Merrill to less than $150 million. The US investment bank moved through the $1.8 billion mark after running the books on a $533 million offering for Shinhan Financial. Morgan Stanley has now raised more than 50% of its entire credit for last year.
The largest offering of the week was also the largest follow on from South East Asia so far this year. Government-owned Khazanah Nasional sold a...