Our web poll last week asked readers to predict which investment banking teams will be the busiest during the rest of the year. Predictably, they chose equity capital markets (ECM), though the voting was closer than might have been expected.
So far this year, according to Dealogic, equity offers have generated almost three times more fees than debt capital markets and M&A combined. In all, Asia ex-Japan equity capital markets activity has generated $3 billion in fees, compared to $865 million from M&A and just $282 million from debt capital markets.
However, our voting hardly reflected this dominance. Most respondents said equity deals will continue to dominate, but both debt and M&A also attracted significant support, suggesting there is little consensus about the rest of the year.
In total, 39% of respondents chose equity capital markets, while 32% voted for debt capital markets and 29% for M&A.
Photo provided by AFP.
