HONG KONG, Sept 2 (Reuters) - Here is the latest weekly Asia-Pacific Investment Banking Scorecard, provided by Thomson Reuters:
Private equity firm Bain Capital has agreed to buy Australian software maker MYOB for an estimated A$1.2 billion, marking Bain Capital’s largest acquisition for an Australian entity. Bain Capital has completed 11 buyouts this year, of which four targets are in Asia including Japan’s Skylark and Hero MotoCorp Ltd in India.
Cross-border PE-backed M&A activity targeting Asia ex-Japan companies is up 8.4 percent over the same period last year, with deal values reaching $11.9 billion so far this year. High Technology leads the rankings as the most targeted sector for Private Equity (PE) acquisitions, totalling $2.4 billion from 31 deals, a nine-fold increase from 2010.
Mongolia’s natural resource sector makes a play for equity markets as Inner Mongolia Yitai Coal is expected to list $1.5 billion in Hong Kong later this quarter, along with IPOs in the pipeline including Erdenes-Tavan Tolgo and Terra Energy LLC, both Mongolian mining companies.
Mongolia mining-related companies (may be registered elsewhere) have raised $5.7 billion in through 17 IPOs in the past decade, with 90 percent of the IPOs occurring within the last five years. Citigroup is the top underwriter for Mongolian mining deals, advising on issuance volume of $638.1 million from three IPOs.
AUSTRALIAN M&A REMAINS STRONG
Despite the decrease in deal count, Australian-involvement M&A deal volume reached $140.8 billion so far this year, 82 percent higher than the same period last year. The January-to-September period in 2007 remains the highest first-three quarter volume for overall Australian M&A when volume reached $144.4 billion.
Goldman Sachs leads the year-to-date financial adviser ranking for Australian-involvement announced M&A, bolstered by its target advisory role in the $15.6 billion completed acquisition of Petrohawk Energy Corp by BHP Billiton — this year’s largest deal for Australian-involvement M&A.
Reporting by Christina Lo; Editing by Ken Wills