The equity capital markets raised $1.2 billion from 16 issues this week, bumping up volume for the first half to $55.9 billion, the highest 1H on record and representing an increase of 55% over the same period last year. Goldman Sachs strengthened its stranglehold over banks in the league table rankings with $8.2 billion from 21 issues while UBS sits below in second place with $5.4 billion and Citigroup in third.
Shimao Property HoldingsÆ $479 million IPO was the largest deal of the week and led by Goldman Sachs and Morgan Stanley. The issue enabled Morgan Stanley to climb up a place to take fifth position in the rankings with $3.4 billion.
Deutsche Bank also moved up the table, jumping to seventh place from ninth on the back of Powerchip SemiconductorÆs $168 million fully marketed follow on and $160 million convertible.
The second half will be off to a quick start with a handful of deals scheduled to price next week. JP Morgan and UBS are bookrunning a $395 million IPO for Greentown China Holdings; a $231 million IPO for CDL Hospitality Trusts is being led by BNP Paribas and DBS; and Macquarie Bank is running the books for MFS Living & Leisure GroupÆs $132 million IPO on a sole basis.
Debt Capital Markets
The debt capital markets finished the quarter with zero trades this week. Total volume stands at just over $20 billion from 48 trades, the highest ever 1H volume and up 17% on 1H 2005.
Morgan Stanley caps off the first half of the year at the top of the league table rankings with $3.1 billion from eight deals and leads by a clear margin over Citigroup in second place and UBS in third.
