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Equity

Latest news

  • Hope still alive in ECM after Greferendum – but is it justified?

    Equity capital markets were tense but calm on Monday. Screens went red after Greek voters rejected creditors’ bailout terms in Sunday’s referendum – but ECM specialists were relieved the sell-off wasn’t worse.

    • 06 Jul 2015
  • Chorus Clean Energy still hopes to price IPO, Pfandbriefbank waits

    A few IPOs remain in the market, although several have been pulled in the last few days — or, like that of Germany’s Deutsche Pfandbriefbank, put on hold.

    • 06 Jul 2015
  • Cellnovo seeks €40m to roll out diabetes device in IPO

    Whether investors can look past the turmoil around Greece at a promising growth story will be tested this week, as Cellnovo attempts to complete its IPO in Paris.

    • 06 Jul 2015
  • HSBC hires Isaacs for ECM

    HSBC has hired Antony Isaacs to be head of UK equity capital markets and corporate broking.

    • 06 Jul 2015
  • Elumeo holds up after bijou IPO comes off despite Greece

    Shares in Elumeo, a German company that sells jewellery online and through a television channel, closed at €24.75 today, 1% below their IPO price, despite the strong sell-off in European markets today after Greece’s referendum on Sunday.

    • 06 Jul 2015
  • IPO market grows more challenging as Greek crisis worsens

    Equity capital markets bankers this week faced some of the hardest market conditions in months, as they struggled to get IPOs over the line after the collapse of negotiations between Greece and its creditors. But even as the count of cancelled listings mounted, some deals were still squeaking through.

    • 02 Jul 2015
  • Deutsche Annington wraps up capital raise

    Deutsche Annington, the German housing company, successfully completed a €2.25bn rights issue, it said on Wednesday.

    • 01 Jul 2015
  • Credit Bank of Moscow completes year’s second Russian IPO

    Credit Bank of Moscow has successfully completed its IPO, raising over Rb10bn ($180m). That is considerably more than its Rb6.2bn minimum deal size.

    • 30 Jun 2015
  • Funds grapple with Greek values at quarter end

    Fund managers with equities listed on the closed Athens Stock Exchange are struggling to prepare net asset valuations on their exposures for quarter end on June 30, which are soon due.

    • 02 Jul 2015
  • New Deutsche boss warns on conduct

    New Deutsche Bank chief executive John Cryan leaned heavily on Deutsche’s conduct problems in his first day message to staff, as the German bank anticipates more damage to its capital base from fines.

    • 02 Jul 2015
  • CBR Fashion cancels IPO

    German fashion holding company CBR Fashion was the second prospective ECM issuer to withdraw its IPO this week, blaming volatility caused by the Greek crisis.

    • 02 Jul 2015
  • Mexico’s equity market looks to energy reform for growth spurt

    Larger companies needing growth capital have a useful source in Mexico’s stockmarket, where demand in roughly equal quantities from domestic and foreign investors has supported a strong rise in issuance. It is going through a dip this year – but as Jon Hay reports, if Mexico delivers on reforming energy markets, there will be plenty of deals to come.

    • 30 Jun 2015
  • Credit Bank of Moscow floats in second Russian IPO of the year

    Credit Bank of Moscow started trading on the Moscow Exchange on Wednesday, after raising Rb13.2bn ($237m) in the year’s second Russian initial public offering.

    • 02 Jul 2015
  • Ex-Barclays convertibles research head resurfaces as fund manager

    Aberdeen Asset Management has hired the former head of European convertible bonds and equity derivatives research as a convertibles investment manager.

    • 01 Jul 2015
  • Capio trades up after listing despite rough market

    Capio, the Swedish healthcare group, rose on its first day of trading in Stockholm on Tuesday, after an IPO that was little affected by the Greek crisis, thanks to heavy cornerstone support.

    • 30 Jun 2015
  • Italy’s Banca Sistema hit by Greece, but IPO still twice covered

    Banca Sistema, an Italian bank that specialises in factoring government invoices, completed its IPO in Milan on Monday, raising €146m and achieving a market capitalisation of €302m, despite being buffeted by market anxiety about the Greek debt crisis.

    • 02 Jul 2015
  • Euskaltel gets IPO away, jumps in trading

    Eusktaltel, the Basque Country telecoms firm, priced its Madrid IPO on Monday in the lower half of the range, raising €764m, in a volatile week for stock markets as the Greek crisis rolls on.

    • 30 Jun 2015
  • Mithra ups Brussels IPO, prices at €72m

    Mithra Pharmaceuticals, the Belgian business devoted to women’s health, raised €72.3m on Monday from its initial public offering in Brussels.

    • 02 Jul 2015
  • Flow Traders opens book for €500m Amsterdam IPO

    Flow Traders Coöperatief, the Dutch financial trading firm, put out a price range for its IPO on Tuesday morning and opened the books.

    • 30 Jun 2015
  • Sophos up after London’s biggest software IPO

    Shares in Sophos traded up on Tuesday to about 234p, cementing a 4% gain since the UK software security firm’s IPO was priced on the morning of Friday last week at 225p a share. According to the London Stock Exchange, it was the largest software IPO in UK history.

    • 30 Jun 2015
  • IPOs begin to fall, blocks ruled out as Greece shakes equity market

    Equity capital markets bankers were struggling to remain optimistic on Monday, as IPOs began to be cancelled and block trades were ruled out, amid markets reeling from Greece's proximity to default.

    • 29 Jun 2015
  • Deutsche loses M&A head

    Henrik Aslaksen, global head of M&A at Deutsche Bank, is to leave the firm.

    • 29 Jun 2015
  • Airbus times first CB perfectly

    Airbus, the European aircraft manufacturer, showed just how flashily the convertible bond market can buck trends on June 26, when it issued a €500m deal that won exceptionally good terms, even as other markets frayed.

    • 02 Jul 2015
  • Ado pulls IPO amid Greek crisis

    Ado Properties, the German residential property firm, postponed its planned listing “until further notice” this week, blaming the withdrawal on uncertainty around the Greek crisis.

    • 29 Jun 2015

More ECM stories

Equity-linked

  • Hong Kong ECM round-up: Huarong, Alibaba, Yee Hop, Carnival

    China Huarong Asset Management has filed a preliminary prospectus for a chunky $3bn Hong Kong IPO despite the weak performance of its closest comparable, China Cinda Asset Management.

    • 06 Jul 2015
  • Airbus times first CB perfectly

    Airbus, the European aircraft manufacturer, showed just how flashily the convertible bond market can buck trends on June 26, when it issued a €500m deal that won exceptionally good terms, even as other markets frayed.

    • 02 Jul 2015
  • Asia ECM hopes for summer lull to restore calm after China plunge

    The spectacular rise in China’s A-share market has been the stuff of dreams, capturing the imagination of investors the world over. But after a violent correction, Asia’s equity capital markets are on a knife edge, and bankers hope the market will find some calm in the summer, before the year’s biggest trades hit screens in the fourth quarter, writes John Loh.

    • 02 Jul 2015
  • IPOs begin to fall, blocks ruled out as Greece shakes equity market

    Equity capital markets bankers were struggling to remain optimistic on Monday, as IPOs began to be cancelled and block trades were ruled out, amid markets reeling from Greece's proximity to default.

    • 29 Jun 2015
  • ASE roars into market with $200m CB

    Taiwan’s Advanced Semiconductor Engineering has ventured back into equity-linked after a near two-year hiatus, raising $200m from a 2.75 year convertible bond that was flooded with orders, and led to nearly half the accounts going home empty handed.

    • 26 Jun 2015
  • Ctrip scores $1.1bn with largest Asian CB in five years

    China’s Ctrip.com International took the equity-linked market by storm on June 18, raising a mammoth $1.1bn via a dual tranche convertible bond, marking the largest issuance in Asia ex-Japan ex-onshore China since 2010.

    • 25 Jun 2015
  • European growth is no mirage for equity investors

    Equity capital markets are remarkably buoyant, prompting some bankers to reflect that US investors, who buy getting on for half the paper, understand Europe a lot better than they did two years ago.

    • 24 Jun 2015
  • Implenia shows power of CB as it raises 7 year sub debt at 0.5%

    Implenia, the Swiss construction company, showed the advantages of the convertible market for issuers wanting to issue subordinated debt, with a highly successful Sfr175m deal that shared the market with Ingenico on Tuesday.

    • 23 Jun 2015
  • Sunway Construction gets cornerstone investors for IPO

    Malaysia’s Sunway Construction Group has netted cornerstone commitments from six local funds for its up to MR550m ($147m) IPO, giving the float some early momentum before it launches.

    • 23 Jun 2015
  • Ctrip soars with landmark dual-tranche $1.1bn convertible

    China’s Ctrip.com International has taken the equity-linked market by storm, raising a mammoth $1.1bn via a dual-tranche convertible bond on June 18, marking the largest issuance in Asia ex-Japan ex-onshore China since 2010.

    • 19 Jun 2015
  • Ctrip launches $1bn CB as Hon Hai shortlists banks

    Nasdaq-listed Ctrip.com International has opened books on a $1bn dual tranche convertible bond, split into a five put three and a 10 put five, sole bookrun by JP Morgan.

    • 18 Jun 2015
  • Afren’s board in mass exodus ahead of trying AGM

    All but one of Afren's directors resigned on Thursday, ahead of the firm’s annual general meeting, pre-empting what some shareholders had expected would be a bloodbath vote for any historical director seeking re-election.

    • 25 Jun 2015
  • Issuers charge ahead with HK IPOs amid turbulence

    The tide is turning for Hong Kong and China stocks after months of euphoria pushed indices to record highs. But with only a short time left before the summer lull, issuers are still pushing out their IPOs, despite choppy conditions and pushback from investors on valuations, writes Rashmi Kumar.

    • 18 Jun 2015
  • IPOs to fail in summer stampede

    With more than 20 initial public offerings in the market in the pre-summer rush to get deals done, more and more equity capital markets bankers believe not all the transactions can succeed.

    • 17 Jun 2015
  • EQT-owned CBR Fashion plans IPO

    CBR Fashion Holding, a holding company for two German womenswear brands, will seek to raise €200m by selling new shares in an initial public offering.

    • 11 Jun 2015
  • Pfandbriefbank IPO could get €2bn valuation

    Deutsche Pfandbriefbank (Pbb), the specialist German bank nationalised in 2009, announced on Wednesday that it would float in Frankfurt in July, in a deal that one banker said could value it at close to €2bn.

    • 11 Jun 2015
  • Chorus Clean Energy to sell mostly new shares in Frankfurt listing

    Chorus Clean Energy, a German company that operates solar and wind power plants, aims to raise about €100m of new capital in a mainly primary initial public offering.

    • 10 Jun 2015
  • Mauser seeks concessions to make loan IPO-friendly

    Mauser, the German industrial packaging group, is working to a short deadline as it amends its loan documents to make them more flexible for an IPO and a dividend payment.

    • 09 Jun 2015

Block trades

  • Philip Morris eyes $1.3bn block for Indonesian unit

    Philip Morris International is looking to pare down its stake in Indonesian subsidiary HM Sampoerna, in a deal that could raise some $1.3bn. Five banks have been tapped the run the share sale, which could be the largest in Indonesia since 2013.

    • 11:15 AM
  • Hope still alive in ECM after Greferendum – but is it justified?

    Equity capital markets were tense but calm on Monday. Screens went red after Greek voters rejected creditors’ bailout terms in Sunday’s referendum – but ECM specialists were relieved the sell-off wasn’t worse.

    • 06 Jul 2015
  • India whips out $3bn divestment mandates

    India is on the divestment trail again, with the government issuing two request for proposals (RFPs) to offload its stakes in 10 state-owned firms, which could net about Rp190bn ($3bn) in proceeds at current share prices.

    • 06 Jul 2015
  • Hong Kong ECM round-up: Something Big this way comes

    Something Big Technology Holdings is planning to list on the Hong Kong Stock Exchange, with the float being brought to the market by sole sponsor KGI Capital Asia.

    • 03 Jul 2015
  • Silver linings for Dalian Wanda, Far East blocks

    Stronger markets in Hong Kong and China on June 30, after consecutive days of losses, paved the way for two accelerated blocks, as a cornerstone in Dalian Wanda Commercial Properties exited the firm, while Far East Horizon found an opportune window to raise new capital.

    • 02 Jul 2015
  • Asia ECM hopes for summer lull to restore calm after China plunge

    The spectacular rise in China’s A-share market has been the stuff of dreams, capturing the imagination of investors the world over. But after a violent correction, Asia’s equity capital markets are on a knife edge, and bankers hope the market will find some calm in the summer, before the year’s biggest trades hit screens in the fourth quarter, writes John Loh.

    • 02 Jul 2015

People and market news

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 06 Jul 2015
1 JPMorgan 203,436.86 799 8.91%
2 Citi 174,432.23 667 7.64%
3 Barclays 165,118.24 550 7.23%
4 Bank of America Merrill Lynch 164,778.26 616 7.21%
5 Deutsche Bank 139,780.55 601 6.12%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 21,693.77 47 6.61%
2 Deutsche Bank 20,438.65 87 6.23%
3 BNP Paribas 20,073.94 117 6.12%
4 HSBC 17,424.47 86 5.31%
5 Credit Agricole CIB 16,779.39 74 5.12%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 30 Jun 2015
1 Goldman Sachs 15,847.20 51 10.26%
2 UBS 15,146.37 52 9.81%
3 Bank of America Merrill Lynch 13,535.48 54 8.76%
4 JPMorgan 11,690.13 64 7.57%
5 Deutsche Bank 11,530.07 54 7.47%