The equity capital markets held steady this week with $484 million raised from seven issues. The league table rankings remain static with JPMorgan sitting at the top on $1.7 billion, followed by Citi and Deutsche Bank.
Rural Electrification CorporationÆs $417 million IPO accounted for the bulk of volume this week and was led by ICICI Bank, IL&FS Merchant Banking Services and SBI Capital Markets. ICICI Bank moved into the top 10 to sit in seventh place with $541 million.
China Railway Construction CorporationÆs $2.3 billion H-share listing is scheduled to price next week. Citi, CITIC Securities and Macquarie Bank are the bookrunners. The $3.1 billion A-Share lPO led by CITIC Securities priced this week at the top of the range (note that A-Shares are not eligible for league table credit).
Debt Capital Markets
The debt capital markets were flat this week with zero trades. HSBC, Barclays Capital and Lehman Brothers take out the top three places in the rankings.
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