Turmoil forces Goldman to reduce size of ICBC offload

Goldman Sachs sold part of its stake in Industrial Commercial Bank of China this week, raising HK$8.55 ($1.1bn) and bringing its stake in the bank down to around 10%. But the US firm was forced to cut the size of the deal after HSBC announced a big drop in profits and investors became increasingly fearful about Italy.

  • 10 Nov 2011

Goldman, the sole arranger of the deal, was planning to raise as much as HK$12bn ($1.54bn) from the sale but reduced the number of shares on offer by 27% despite getting $1.8bn worth of orders.

Rival bankers were shocked that the block went ahead at all, considering how shaky ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Jun 2017
1 HSBC 18,859.47 96 5.78%
2 UBS 17,096.63 103 5.24%
3 BNP Paribas 16,125.84 71 4.94%
4 Commerzbank Group 15,763.40 95 4.83%
5 LBBW 15,321.72 85 4.69%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 19 Jun 2017
1 Morgan Stanley 58,230.82 220 7.33%
2 Goldman Sachs 55,991.98 263 7.05%
3 Bank of America Merrill Lynch 50,362.34 188 6.34%
4 JPMorgan 49,807.13 231 6.27%
5 Citi 48,627.79 289 6.12%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 Citi 41,583.09 217 10.04%
2 Goldman Sachs 40,848.76 205 9.86%
3 Morgan Stanley 40,750.32 150 9.84%
4 JPMorgan 39,863.64 165 9.62%
5 Bank of America Merrill Lynch 36,689.19 149 8.86%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 LBBW 4,563.62 16 7.62%
2 SG Corporate & Investment Banking 4,463.41 18 7.46%
3 BNP Paribas 4,287.01 13 7.16%
4 Credit Agricole CIB 3,637.13 14 6.08%
5 Commerzbank Group 3,356.64 13 5.61%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • 13 Jun 2017
1 HSBC 6,023.46 22 12.66%
2 Barclays 5,139.18 16 10.80%
3 Credit Suisse 3,558.82 15 7.48%
4 BNP Paribas 3,205.75 15 6.74%
5 Goldman Sachs 2,888.75 19 6.07%