December 30, 2016 / 12:01 AM / 7 months ago

FACTBOX-CITIC tops AsiaPac ECM volume, fees as Chinese firms' clout grows

4 Min Read

HONG KONG, Dec 30 (Reuters) - Asia-Pacific equity capital
markets (ECM) activity sank 22.5 percent in 2016, as weak IPO
performance curbed demand for new listings in the region and
listed companies slashed secondary offerings because of volatile
equity markets, preliminary Thomson Reuters data showed.
 
    Share offerings in the region's stock exchanges dropped to
$207.4 billion, with follow-on share sales tumbling 29.3 percent
and far outpacing the 2.4 percent decline in initial public
offerings, according to data through Dec. 28.
    Hong Kong kept its crown as the world's top IPO venue,
followed by Shanghai, as  major exchanges, including the New
York Stock Exchange, Nasdaq and Tokyo Stock Exchange,
experienced a sharp decline in deal activity.
    China's largest securities firm, CITIC Securities Co Ltd
 , led the region both in the volume of
deals it advised on and on estimated fees earned, the first time
ever a domestic firm managed that feat, in a sign of the growing
clout of Chinese investment banks. UBS and Goldman
Sachs had led ECM rankings in the region since 2002.
    Following is a list of the region's top ECM underwriters in
2016 and the estimated fees earned on the equity deals.    
 
 Bank                     Deal Volume  Change from  Rank    Rank
                          (in $mln)     2015        2016    2015
                                                                
 CITIC                         12,074     -3.0 pct       1     4
 Morgan Stanley                 9,670    -40.3 pct       2     3
 UBS                            7,251    -66.6 pct       3     2
 Citigroup                      7,202     -9.0 pct       4     7
 Haitong Securities             6,204     21.2 pct       5    14
 Guotai Junan Securities        6,075     40.3 pct       6    16
 China Securities               5,977     16.8 pct       7    15
 CICC                           5,761     -4.1 pct       8    12
 Goldman Sachs                  5,696    -73.8 pct       9     1
 Huatai Securities              5,469     29.2 pct      10    17
                                                                
 INDUSTRY TOTAL               207,380    -22.5 pct              
 
Source: Thomson Reuters
    
 Bank                       2016 fees  Change from
                            (in $mln)         2015
                                                  
 CITIC                          287.8      7.9 pct
 Morgan Stanley                 245.4     20.6 pct
 China Securities               161.7     25.5 pct
 GF Securities                  160.7     57.1 pct
 Citigroup                      148.3     57.0 pct
 JPMorgan                       140.8     16.3 pct
 Deutsche Bank                  140.2     -6.6 pct
 UBS                            138.3    -45.4 pct
 Guosen Securities              134.4     -5.8 pct
 CICC                           132.4     13.7 pct
                                                  
 INDUSTRY TOTAL                 5,032     -5.6 pct
                                       
 Source: Thomson Reuters/Freeman & Co

 (Reporting by Elzio Barreto; Editing by Muralikumar
Anantharaman)

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