Equity Capital Markets
Asia (ex Japan) ECM volume stands at $2.9bn via 25 deals so far this week compared to the $3.5bn via 36 deals completed in the previous week.
Chinese issuer Tencent Music Entertainment completed a $1.1bn IPO via a consortium of five bookrunners in what is the largest Asia (ex Japan) ECM transaction this week. Despite being priced at the low end of its $13 to $15 initial ADS filing range, the closing one-day up 7.7%. Tencent Music's IPO is the fourth largest US-listed Chinese IPO this YTD.
Asia (ex Japan) Chinese IPO volume stands at $9.2bn via 33 deals in 2018 YTD, up 149% from the $3.7bn raised in the same period last year. TMT accounts for 76.6% of the total issuance with $7.0bn via 21 deals.
Goldman Sachs leads Asia (ex Japan) ECM market with $16.7bn, followed by Citi with $12.8bn and Morgan Stanley with $12.0bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | Goldman Sachs | 16,716.60 | 72 | 8.07 |
| 2 | Citi | 12,803.58 | 82 | 6.18 |
| 3 | Morgan Stanley | 12,056.62 | 59 | 5.82 |
| 4 | China International Capital Corp Ltd | 11,749.46 | 49 | 5.67 |
| 5 | China Securities Co Ltd | 10,496.93 | 45 | 5.15 |
Debt Capital Markets
Asia (ex Japan) international DCM volume stands at $2.9bn via 10 deals so far this week compared to $8.8bn via 19 deals in the previous week.
Chinese issuer Chimao Property Holdings issued a bond with $570m proceeds via Goldman Sachs, HSBC, Morgan Stanley, and UBS in what is the largest Asia (ex Japan) international DCM transaction this week.
In Asia (ex Japan) International DCM, USD-denominated bond has reached $244.0bn via 537 deals, still behind the largest volume on record in 2017 YTD with $328.7bn via 586 deals. China continues to issue the largest volume of USD-denominated bond in the region with $154.3bn via 317 deals compared to second largest, Korea, with $23.1bn via 86 deals.
HSBC leads the Asia (ex Japan) international DCM league with $27.0bn. This is followed by Citi with $18.4bn and Standard Chartered Bank with $15.8bn.
| Pos. | Bookrunner | Deal Value ($m) | No. | %share |
|---|---|---|---|---|
| 1 | HSBC | 26,959.20 | 257 | 8.39 |
| 2 | Citi | 18,373.48 | 150 | 5.72 |
| 3 | Standard Chartered Bank | 15,828.07 | 163 | 4.97 |
| 4 | Bank of China | 13,487.68 | 163 | 4.20 |
| 5 | DBS | 12,794.92 | 122 | 3.98 |
