• UniCredit rights issue flies in biggest ECM deal for eight years

    UniCredit, the largest bank in Italy, has won a 99.8% take-up for its €13bn rights issue, in a sign of confidence in the institution and the turnaround plan of its CEO Jean-Pierre Mustier.

    • 08:30 PM
  • Bank of England to grill banks on climate risks

    The Bank of England plans to start later this year examining more closely the banking sector’s exposure to risk from climate change. That means banks will have to start telling the regulator more about the risks they face and how they manage them.

    • 07:30 PM
  • LXI Reit gets £138m for property acquisitions

    LXI Reit, the UK real estate investment trust, has completed one of the first IPOs on the London Stock Exchange this year, raising £138m ($173.25m) to invest in a diversified portfolio of UK commercial and residential properties.

    • 07:00 PM
  • Rocket dives 14% after Kinnevik cuts stake

    Rocket Internet, the German internet venture capital group, closed 14% lower on Thursday after Kinnevik, the Swedish investment company that was one of its earliest backers, sold half its stake through an accelerated bookbuild after the stock had rallied over the past three months.

    • 05:00 PM
  • Citi names equity sales head

    Citi has named appointed an internal candidate as its global head of equity sales.

    • 04:00 PM
  • Barclays sucks up CIB profit dip to pay bonuses earlier

    Barclays showed some quality on Thursday, beating the Street’s estimates on capital and profit after extraordinary charges. The bank rode the wave of surging trade volumes in the fourth quarter and a strengthening dollar, but investment banking outperformed as well. Best of all, for its bankers, the firm said it was bringing forward bonus payments.

    • 01:00 PM
  • Blocks abound as Asia ECM market comes back to life

    The Asian block market came to life this month as shareholders jumped at the chance to offload some of their holdings in companies, taking advantage of a rally in the stock market. With a tight window remaining before firms head into blackout period ahead of results season, ECM bankers and investors are set for more deals this quarter. Jonathan Breen and John Loh report.

    • 12:30 PM
  • IBK tees up W196bn E-Mart block

    Industrial Bank of Korea is looking to offload its entire stake in local hypermarket chain E-Mart to raise up to W195.9bn ($172.1m).

    • 12:15 PM
  • China Reading turns page on $800m Hong Kong IPO

    China Reading, the e-book publisher backed by Tencent Holdings, has picked Bank of America Merrill Lynch, Credit Suisse and Morgan Stanley to lead its Hong Kong IPO, according to a source close to the matter.

    • 12:00 PM
  • HSBC makes senior changes at commercial bank

    HSBC has made some high profile appointments to its commercial banking teams in Hong Kong and Mainland China, according to an announcement on Thursday.

    • 12:00 PM
  • Deutsche Wohnen’s three-leg capital raising could be copied

    Deutsche Wohnen, the German housing company, has raised €1.34bn of equity and convertible debt at attractive terms, in what bankers have claimed is the first three-legged trade of its kind in Europe.

    • 22 Feb 2017
  • Bain continues Bravida exit with third ABB

    Bravissima Holding, an investment vehicle controlled by Bain Capital, has hired Deutsche Bank and Nordea to sell a 12.1% stake in Bravida, the Swedish heating, plumbing and electrical installation company, through an accelerated bookbuild launched after the market close on Wednesday.

    • 22 Feb 2017
  • Kinnevik halves Rocket Internet stake, trade covered

    This evening, Kinnevik, the Swedish investment company, is selling a 6.6% stake in Rocket Internet, the German e-commerce startup investor, through an accelerated bookbuild.

    • 22 Feb 2017
  • Crédit Agricole's investment bank comes back to corpfin

    The spectre of further regulatory upheaval in the shape of Basel IV is driving the strategic thinking of the long-serving boss of Crédit Agricole’s corporate and investment bank, writes David Rothnie.

    • 22 Feb 2017
  • Arabtec rises as Dh1.5bn rights issue gets go-ahead

    Shares in Arabtec Holding, the largest listed construction company in the United Arab Emirates, surged 15% on Wednesday after it said regulators had approved its plans to raise Dh1.5bn ($408m) through a rights issue to strengthen its balance sheet after a second annual loss in 2016.

    • 22 Feb 2017
  • Commerzbank names new UK corporate and loan origination heads

    Commerzbank has chosen a new head of its UK corporate banking operation and a new head of international loan origination as part of a reshuffle of senior bankers.

    • 22 Feb 2017
  • Buoyant ECM market set for €13bn boost from UniCredit

    Equity capital markets issuance in EMEA is already nearly €5bn ahead of last year's pace, at €19.6bn so far this year, and the total is set to nearly double this week when UniCredit completes its €13bn rights issue.

    • 22 Feb 2017
  • Lotte Chemical raises $188m from treasury share sale

    South Korea’s Lotte Chemical Corp has netted W215.0bn ($187.9m) after pricing a block sale of treasury shares near the middle of guidance, according to a term sheet seen by GlobalCapital Asia.

    • 22 Feb 2017
  • HSBC loses India ECM head

    HSBC’s equity capital markets head for India has left the bank, GlobalCapital Asia understands.

    • 22 Feb 2017
  • India eyes $251m from Bharat Electronics sell down

    The Indian government kicked off a two-day bookbuild on Wednesday to sell 5% of its stake in Bharat Electronics worth Rp16.8bn ($250.9m).

    • 22 Feb 2017
  • YuHua Education fetches $198m from HK IPO

    China YuHua Education Corp has scooped up HK$1.5bn ($198.1m) after seeing a global turnout of investors for its IPO, according to a banker close to the deal.

    • 22 Feb 2017
  • Goldman unit bags $125m from Max Financial block

    A unit of Goldman Sachs raised Rp8.4bn ($125.2m) on Tuesday after selling down some of its stake in India’s Max Financial Services, taking advantage of a run-up in the stock.

    • 22 Feb 2017
  • Deutsche Wohnen launches €1.3bn share and CB sale

    Deutsche Wohnen, the German housing company, has launched this evening a parallel issue of €500m of new shares and an €800m convertible bond, breaking a quiet spell in Europe’s equity-linked market.

    • 21 Feb 2017
  • RenoNorden raises Nkr350m after 2016 losses

    RenoNorden, the Norwegian waste management company, has finished its Nkr350m (€39m) rights issue to prevent it breaking its debt covenants after losses in 2016.

    • 21 Feb 2017
  • Nordic Capital reopens blocks market with Skr1bn Resurs sale

    Nordic Capital has completed the first selldown of shares in Resurs Holding, the Swedish retail finance company, since its IPO in April 2016.

    • 21 Feb 2017
  • Top shareholders back rights issue for ailing Eltel

    Shares in Eltel, the Swedish intranet company, jumped 14% on Tuesday after it announced its 2016 results, the sale of non-core assets, the revision of its debt covenants, and a rights issue to finance its restructuring and return to profitability.

    • 21 Feb 2017
  • Hot CLO, loan markets prompt GSO/Blackstone loan fund raise

    Investor demand for exposure to global loan and CLO products has prompted GSO/Blackstone’s listed Loan Financing Fund, which invests in US and European senior secured loans both directly and through CLO debt, to plan a new share issue.

    • 21 Feb 2017
  • Lotte Chemical eyes $195m with block

    Lotte Chemical Corp is looking to raise up to W223.7bn ($195.0m) through the sale of a block of treasury shares, according to a banker familiar with the matter.

    • 21 Feb 2017
  • Write-down masks HSBC trading boost

    A large write-down in European private banking left HSBC nursing a heavy quarterly loss at the end of 2016, despite a strong performance in global banking and markets and trading profit that nearly doubled.

    • 21 Feb 2017
  • CSRC approves BoCom International HK spin-off

    China Securities Regulatory Commission has given the nod to Bank of Communications Co to spin off and list its investment banking arm in Hong Kong, according to a filing with the city’s exchange.

    • 21 Feb 2017
  • YuHua navigates price sensitivity for $245m IPO

    China YuHua Education Corp was expected to close its HK$1.9bn ($244.8m) IPO on Tuesday as scheduled — but price sensitivity among investors meant finding the right pricing level was posing a challenge as GlobalCapital Asia went to press.

    • 21 Feb 2017
  • Eco World eyes March launch of $561m listing

    Malaysia’s Eco World International will finally open books on its MR2.5bn ($561m) IPO next month after getting two domestic funds on board as cornerstone investors.

    • 21 Feb 2017
  • RFPs out for listings of Indian railway subsidiaries

    India’s divestment department has issued three requests for proposals to banks as it looks to list its key railway ministry subsidiaries.

    • 21 Feb 2017
  • Nomura hires for FIG coverage, Italy IB

    Nomura has hired two bankers into its investment banking division, a new head of investment banking for Italy and a FIG coverage banker.

    • 20 Feb 2017
  • Air Berlin refinances CBs with the help of Etihad

    Air Berlin, the unprofitable German airline, has successfully raised the money it needs to refinance its €140m 6% convertible bonds, puttable in March, despite bondholders shunning the exchange offer.

    • 20 Feb 2017
  • India IPO round-up: Bharat Road, New India Assurance

    Bharat Road Network filed a draft prospectus for its listing last Friday, offering 29.3m primary shares via leads Inga Capital, Investec and Srei Capital Markets.

    • 20 Feb 2017
  • IRB InvIT approved, IndiGrid and Reliance Infra await nods

    India’s market regulator has given the go ahead to IRB InvIT Fund’s IPO, making it the first infrastructure investment trust in the country to win approval to list. But IndiGrid and Reliance Infrastructure are hot on its heels.

    • 20 Feb 2017
  • Singapore’s HPC Holdings opts for HK listing

    Singapore-based construction company HPC Holdings is looking to list its shares in Hong Kong and is seeking approval from the city’s exchange.

    • 20 Feb 2017
  • India gives deadline for IPOs of state-owned firms

    India has released a series of targets to make sure its state-owned firms are listed within a specific time frame, giving them up to 5.5 months to market and launch their IPOs.

    • 20 Feb 2017
  • New megaloan likely as Kraft Heinz hunts Unilever

    The syndicated loan market may again be asked to underwrite a potentially record-breaking takeover loan, as Kraft Heinz has begun a pursuit of Unilever, including a large cash offer.

    • 17 Feb 2017
  • BBVA sells opportunistic $587m China Citic Bank block

    BBVA sold down part of its holdings in China Citic Bank Corp for HK$4.6bn ($587.2m) on Wednesday, taking advantage of an unexpected rally in Chinese banking stocks.

    • 17 Feb 2017
  • Lotte heir nets $342m via Lotte Shopping sell down

    One of the sons of Lotte Group founder has sold a chunk of his shareholding in Lotte Shopping Co through an accelerated bookbuild, netting W391.2bn ($341.8m) in the process.

    • 17 Feb 2017
  • Derivs accounting unfit for purpose

    The skies look dark as you head off for a walk on the beach, so you buy an umbrella. If it turns out sunny, you’ll get a few smirks from people you meet. But you’re unlikely to be abused as an idiot.

    • 16 Feb 2017
  • Credit Suisse surprises on capital, DoJ forces loss

    Credit Suisse finished 2016 with a Sfr2.4bn ($2.39bn) annual loss but investors found reasons for optimism in the bank’s strong capital position and revenue growth in investment banking and capital markets, causing the stock price to rise 3.05% on the morning it reported.

    • 16 Feb 2017
  • Block pace brisk as PEs exit Flow Traders, Waterproofing

    Equity block trading activity this week in Europe has remained brisk, with 10 deals completed in the first four days, though of smaller size than in the last couple of weeks. Issuance so far this year, after the first month and a half, now totals €10.4bn, more than double what was sold in the same period last year, when markets were troubled by Chinese stockmarket volatility.

    • 16 Feb 2017
  • SUBbed off: CS might shelve IPO

    Credit Suisse partially stepped away from its plan to place part of its ‘Swiss Universal Bank’ on the market to raise capital, as the bank’s asset disposals and legal settlements came out better than expected, taking the pressure off the bank's capital levels.

    • 16 Feb 2017
  • IPO market warms up as Prosegur Cash, MDM Group join second quarter pipeline

    Europe’s IPO market — sluggish, so far this year — is beginning to warm up, with the announcement of a smattering of new deals this week.

    • 16 Feb 2017
  • Crucial year ahead for Citi’s scramble into corporate finance top tier

    Citi has turned around more than anyone thought possible in the past eight years. It's now one of very few banks with genuine global investment banking ambitions and abilities. But 2017 is critical for the bank to demonstrate it belongs with the best, writes David Rothnie.

    • 16 Feb 2017
  • Reit momentum builds as Lippo, Tianfang plan listings

    A subsidiary of Indonesian conglomerate Lippo Karawaci is bookbuilding for a potential Rph2.45tr ($183.8m) IPO of Dire Bowsprit Commercial & Infrastructure.

    • 16 Feb 2017
  • Asia people news in brief, February 16, 2017

    Bank of China taps new loans head — Maybank Kim Eng loses HK/China CEO — UBS adds three to equity sales trading, derivatives

    • 16 Feb 2017
  • Reliance pre-markets InvIT as Tejas Networks files A1

    Reliance Infrastructure has begun gauging investor appetite for a potential Rp30bn ($448.1m) IPO of its infrastructure investment trust, according to a banker familiar with the matter.

    • 16 Feb 2017
  • Kunming Dianchi Water refiles for $300m HK float

    Kunming Dianchi Water Treatment Co has refiled a draft prospectus for its Hong Kong listing, after first submitting a proposal to the stock exchange in August 2016.

    • 16 Feb 2017
  • SGX seeks public insight on dual-class share structure

    The Singapore Exchange is consulting the public on whether to introduce a dual-class share (DCS) structure and if so what safety measures it should employ, it said on Thursday evening.

    • 16 Feb 2017
  • 2016 Best Country Deals: Results

    GlobalCapital Asia and Asiamoney are pleased to announce the results of our Best Country Deals, recognising the standout transactions in Asia. Our thanks to everybody who took time to pitch.

    • 16 Feb 2017
  • 2016 China Deals and Investment Bank of the Year: Results

    GlobalCapital Asia and Asiamoney are pleased to announce the results of our annual awards, recognising the best banks and transactions in China. Thanks to everyone who took time to pitch and our congratulations to the winners.

    • 16 Feb 2017
  • 2016 Australia Deals and Investment Bank of the Year: Results

    GlobalCapital Asia and Asiamoney are pleased to announce the results of our annual awards, recognising the best banks and transactions in Australia. Our thanks to everybody who took time to pitch.

    • 16 Feb 2017
  • MSCI choice weighs on A-shares prospects

    Despite the launch of Shenzhen Connect, MSCI’s decision on the inclusion of A-shares later this year still looms large on global investors’ views on whether to increase their exposure to onshore equities.

    • 16 Feb 2017
  • First block trade in Flow Traders, second in Nordic Waterproofing

    Tonight, private equity firm Summit Partners, Avalon Holding and Javak Investments have hired Morgan Stanley and UBS to sell a 12.65% stake in Flow Traders, the Dutch market-making firm, after it released its fourth quarter earnings on Wednesday morning.

    • 15 Feb 2017
  • Russia’s MD Medical mulls share sale and loans to finance new hospitals

    MD Medical Group, the Russian private hospitals group that specialises in paediatric and maternity care, will consider a share sale on the London Stock Exchange to partly finance the opening of 10 new medical facilities across Russia over the next three years.

    • 15 Feb 2017
  • Tianfang Reit shifts from SGX to HK for $250m listing

    Hong Kong is about to be treated to its first real estate investment trust listing since 2013 as Chinese state-owned Tianfang Hospitality Reit sets its sights on an IPO, according to a source familiar with the matter.

    • 15 Feb 2017
  • Vibrant blocks market continues, first Benelux IPO launched

    Buoyant secondary markets are continuing to provide ideal conditions for equity sellers to trade blocks. This week has already brought notable sales in France, Finland, Sweden and Russia.

    • 15 Feb 2017
  • Terex sells €257m of Konecranes after lock-up waived

    Terex Corp, the US maker of lifting and material processing machinery, has sold a 9.5% stake in Konecranes, the Finnish crane manufacturer, after a lock-up agreement was waived.

    • 15 Feb 2017
  • Sun Hing seeks IPO nod, Enerchina sets rights issue date

    Hong Kong firm Sun Hing Printing Holdings is seeking approval to go public in the city, submitting a draft prospectus to the bourse on Tuesday.

    • 15 Feb 2017
  • First Kaufman & Broad block since re-IPO

    BNP Paribas and Crédit Agricole with Kepler Cheuvreux have tonight launched the first block trade of stock in Paris residential property builder Kaufman & Broad since its re-IPO last April.

    • 14 Feb 2017
  • EDF’s €4bn rights issue to come amid run-up to election

    Electricité de France plans to bring its long-awaited rights issue to market in March, against the backdrop of a crucial presidential election campaign in France.

    • 14 Feb 2017
  • Rusal falls in Hong Kong after Prokhorov sells 3.3% stake

    Shares in Rusal, the largest aluminium producer in Russia, closed 3.9% lower in Hong Kong on Tuesday after Onexim, an investment vehicle controlled by Mikhail Prokhorov, the billionaire owner of the Brooklyn Nets, sold 3.3% of his stake in the company for HK$1.8bn ($240m), through an accelerated bookbuild launched on Monday night.

    • 14 Feb 2017
  • EQT continues AcadeMedia exit with Skr696m ABB

    EQT has completed the first selldown of stock in AcadeMedia, the Swedish schools group, since its IPO in June.

    • 14 Feb 2017
  • SEA bourses pave way for rebound in ECM

    Stock exchanges in southeast Asia are set for a busy year, as they eye a rebound in ECM activity and make plans to woo foreign issuers.

    • 14 Feb 2017
  • New Times Energy plans $95m share issue

    Oil and gas exploration and production company New Times Energy Corp is looking to raise around HK$738.8m ($95.2m) with an open offer of 3bn new shares, according to a filing with the Hong Kong Stock Exchange.

    • 14 Feb 2017
  • No quick fix for HK’s cornerstone problem

    Hong Kong's IPO market relies heavily on Chinese issuers for deal flow, and with them a force of cornerstone investors. A much needed shake-up to the cosy cornerstone base is expected, thanks to new regulations by China’s foreign exchange regulator. But for those who view the change as a possible solution, the rules are likely to prove disappointing.

    • 14 Feb 2017
  • YuHua Education kicks off $246m HK IPO

    China YuHua Education Corp has hit the road to drum up demand for its Hong Kong listing, which could raise up to HK$1.9bn ($245.5m).

    • 14 Feb 2017
  • Avantium in €100m IPO for chem plant

    Avantium, the Dutch 'renewable' chemicals producer, intends to raise up to €100m by selling new shares on the Euronext Amsterdam and Euronext Brussels by the end of the first quarter.

    • 13 Feb 2017
  • Arabtec seeks Dh1.5bn in Aabar-backed rights issue

    Shares in Arabtec Holding, the Dubai-based construction company, slumped 9.8% on Monday morning after it said it would complete a Dh1.5bn ($408m) rights issue after its second consecutive annual loss.

    • 13 Feb 2017
  • HKT weekend block rings in $1.1bn for PCCW

    PCCW chased away the blues in Asia’s blocks market with a jumbo HK$8.53bn ($1.10bn) sell-down in subsidiary HKT last weekend — it was the region’s biggest overnight bookbuild this year.

    • 13 Feb 2017
  • Tejas Networks, Dianchi Water file for IPOs

    Indian telecom hardware company Tejas Networks is just a few steps away from its IPO, having filed a draft prospectus with the market regulator more than eight years after first proposing the idea of going public.

    • 13 Feb 2017
  • Berenberg scoops Advent's clean-up trade on DFS Furniture

    Shares in DFS Furniture, the UK sofa retailer, rose 4.2% on Friday after its private equity owner Advent International sold its last shares in the company for £58.5m after the expiry of a lock-up and the release of DFS’s first half results earlier in the day.

    • 10 Feb 2017
  • Thai Future Fund plans Q3 listing of first IPO tranche

    Thailand Future Fund is expected to launch the first tranche of its Bt100bn ($2.9bn) IPO in the third quarter of this year, said bankers.

    • 10 Feb 2017
  • S Chand starts gauging investor interest

    Indian school textbook publisher S Chand and Co has begun pre-marketing its IPO, which comprises primary and secondary equity.

    • 10 Feb 2017
  • UBS adds three to equity sales trading, derivatives

    Daniel Murphy has joined UBS in Hong Kong as the Asia Pacific head of equities sales trading, alongside two new hires in equity derivatives.

    • 10 Feb 2017
  • ING Life Korea files for $1bn IPO

    ING Life Insurance Korea is seeking approval to go public through an IPO, filing a draft prospectus with the Korea Exchange (KRX) on Thursday.

    • 10 Feb 2017
  • Shandong trust $300m HK listing approved by CSRC

    Shandong International Trust Co’s $300m IPO in Hong Kong has been given the go-ahead by the China Securities Regulatory Commission.

    • 10 Feb 2017
  • Maybank Kim Eng loses CEO for HK/China

    Maybank Kim Eng’s chief executive officer for Hong Kong and China has left the firm, according to sources close to the matter.

    • 10 Feb 2017
  • UniCredit takes giant loss as it preps turnaround plan

    UniCredit announced an €11.8bn loss on Thursday as expected, paving the way for its €13bn rights issue and fifth shot at a transformational rescue. The bank said it had signed agreements preparing for 14,000 redundancies, but away from this carnage, the underlying businesses appeared to stay strong.

    • 09 Feb 2017
  • Vinci, Severstal win juicy terms with CBs in deal-hungry market

    Equity-linked bond issuance, lagging behind demand in Europe, showed a burst of vigour on Thursday with the launch of three deals, including substantial convertibles for Vinci and Severstal that were both eagerly received.

    • 09 Feb 2017
  • BNP Paribas plots market share raid by 2020

    BNP Paribas’s 2020 growth plan, unveiled on Tuesday, means building the bank’s market share in fixed income and capital markets, as rivals retrench or withdraw. Though the bank plans to run higher capital levels across the firm by 2020, the sale of First Hawaiian will free up firepower for the CIB unit.

    • 09 Feb 2017
  • RPC seeks £552m for US takeover with rights issue

    Shares in RPC Group, the UK plastic packaging maker, closed 5.8% lower on Thursday after it announced a fully underwritten £552m rights issue to finance its takeover of Letica, a US rival.

    • 09 Feb 2017
  • Five set for Saudi Aramco roles, Moelis must share

    Saudi Aramco is set to appoint up to five banks to advise it on its potential initial public offering after a six month pitching process reached its climax this week. Contrary to earlier reports, Moelis & Co will not be the sole adviser, but will be joined by another independent, two bulge bracket banks and a local firm, writes David Rothnie.

    • 09 Feb 2017
  • Guryev sells 4.5% of PJSC PhosAgro as investors warm to Russian stocks

    Adorabella Ltd, a vehicle controlled by billionaire Andrey Guryev and his family, has sold a 4.5% stake in PhosAgro, the Russian maker of phosphate-based fertilizers, for Rb14.8bn ($250m) via an accelerated bookbuild on Wednesday night that was covered in an hour.

    • 09 Feb 2017
  • Koninklijke Philips extends Philips Lighting exit with popular €608m block

    Koninklijke Philips, the Dutch technology company, has sold a 17% stake in Philips Lighting, the electronics division it spun off in May 2016, for €608m, through a blow-out accelerated bookbuild that was covered in 20 minutes and attracted a large anchor order.

    • 09 Feb 2017
  • Elis raises €324m through oversubscribed rights issue for Brazilian, Spanish M&A

    Elis, the French bed linen and laundry company, has completed its oversubscribed €324m rights issue to finance the reduction of its leverage after buying competitors Indusal in Spain and Levebras in Brazil.

    • 09 Feb 2017
  • Singtel plans Q3 launch for $2bn listing of NetLink Trust

    Singapore Telecommunications is working with DBS, Morgan Stanley and UBS to lead the $2bn IPO of its broadband unit NetLink Trust.

    • 09 Feb 2017
  • Ashurst taps senior corporate lawyer as partner

    Ashurst has appointed Pui Hong Chik as a partner in its corporate practice in Hong Kong to bolster its Greater China business, the law firm said on Thursday.

    • 09 Feb 2017
  • BNP Paribas prepares for assault on ECM’s top tier

    The French bank’s recent changes to its equity capital markets division show it is serious about growing its European ECM business outside France, writes David Rothnie.

    • 09 Feb 2017
  • Indian IPOs keep market busy as rest of Asia slumbers

    Most of Asia's equity capital markets were still waking up from the post-holiday slumber this week but bankers in India were on their toes, with IPO activity in the country continuing apace.

    • 09 Feb 2017
  • China lays out new path for cornerstones to HK IPOs

    Cornerstone investors taking up huge chunks of Hong Kong IPOs have caused much controversy in recent years, but that looks set to change. China’s foreign exchange regulator has provided a new route for investing in the city’s listings, which is expected to diversify the pool of potential cornerstones beyond the typical state-owned enterprises, and friends and family investors. Jonathan Breen reports.

    • 09 Feb 2017
  • Bumi mines for $2.6bn in equity to pare down debt

    Indonesian coal miner Bumi Resources has received the go ahead from shareholders to raise Rp35.1tr ($2.639bn) from a combination of a rights issue and mandatory convertible bonds — a move that will help it pare down debt.

    • 09 Feb 2017
  • Detsky Mir prices Rb18.4bn IPO as foreign investors pile in

    Detsky Mir, the Russian toy retailer, this week priced its Rb18.4bn ($311m) Moscow IPO, the first IPO of significant size to be completed this year in EMEA.

    • 08 Feb 2017
  • Detsky Mir prices first IPO of the year, AlzChem pulls

    The IPO market in EMEA is enjoying mixed fortunes, with the successful completion of the largest flotation in Russia since 2014 and the withdrawal of the first German IPO of the year late on Tuesday due to a lack of demand at an acceptable price.

    • 08 Feb 2017
  • Mason closes oversubscribed rights issue, Chanhigh files A1

    Mason Financial Holdings has wrapped up a rights offering of more than 20bn new shares, raising HK$2.9bn ($373.9m) from the deal.

    • 08 Feb 2017
  • Indian govt nets $995m via ITC sell down

    The Indian government has offloaded 2% of its stake in ITC, the country’s largest cigarette maker, raising Rp67bn ($995.2m) and coming closer to its divestment target for the financial year, according to a banker on the deal.

    • 08 Feb 2017
  • German IPOs off to poor start as AlzChem Pulls its €174m deal

    AlzChem, the German niche chemicals producer, has postponed its €174m Frankfurt IPO, blaming difficult market conditions.

    • 07 Feb 2017
  • Criteria's €1bn CaixaBank ABB not covered

    Criteria Caixa, the unlisted holding company, has sold a 5.3% stake in CaixaBank, the Spanish lender, for €1.06bn, through an accelerated bookbuild launched on Monday night that was completed without a covered message.

    • 07 Feb 2017
  • BC Partners sells 13.2% of Com Hem at slim discount

    BC Partners has sold 13.2% of Com Hem, the Swedish provider of cable television, broadband and telephone services, for Skr2.3bn ($275m), through an accelerated bookbuild launched on Monday night.

    • 07 Feb 2017
  • What’s on the regulatory wish list?

    Now there’s a chance that the marginalised and downtrodden voters of rust belt America will get what they really want — a wholesale dismantling of the post-crisis banking regulation — the finance industry must ask itself if that’s what it really wants.

    • 07 Feb 2017
  • UniCredit fills senior tier in capital markets, corpfin

    UniCredit has named the bankers to fill a series of senior country posts in its financing and advisory business, which covers equity and debt origination, coverage and M&A.

    • 07 Feb 2017
  • Sebi approves Genesis Colors IPO, seeks NSE clarification

    Genesis Colors, which owns luxury Indian brands Satya Paul and Bwitch, has secured approval from the country’s market regulator to go public via a Rp6.5bn ($96.5m) IPO.

    • 07 Feb 2017
  • Tech firms China Reading, Wangjin Holdings eye HK IPOs

    E-book publisher China Reading and fintech firm Guangdong Wangjin Holdings Technology Co are looking to list in Hong Kong this year, according to sources familiar with their plans.

    • 07 Feb 2017
  • India needs to get real on budget expectations

    India is aiming for a record Rp725bn ($10.8bn) in divestment proceeds in the new financial year starting April. But it is no secret that these are targets the government is unlikely to meet, with the country having consistently over promised and under delivered. Ambition is admirable, but it is time the government got realistic.

    • 07 Feb 2017
  • HSBC hires Laing to spearhead CEEMEA ECM

    HSBC has confirmed that it has hired Chris Laing to be head of equity capital markets for central and eastern Europe, the Middle East and Africa.

    • 06 Feb 2017
  • Detsky Mir trims Moscow IPO pricing

    Detsky Mir, the Russian toy retailer, has revised the price range for its Rb21.1bn ($350m) Moscow IPO to Rb85 to Rb90 a share, the bottom end of the initial Rb85 to Rb105 range.

    • 06 Feb 2017
  • BCP finishes €1.33bn oversubscribed rights issue to repay government CoCo bonds

    Shares in Banco Comercial Português rose as much as 9.3% on Monday after it announced late on Friday the successful completion of its €1.33bn rights issue to strengthen its core tier one capital ratio and finance the redemption of contingent convertible bonds owned by the Portuguese government.

    • 06 Feb 2017
  • Safe gives nod to direct cornerstone participation

    Onshore Chinese investors can now buy into Hong Kong IPOs directly if they are acting as cornerstones investors, following a change in regulation by the State Administration of Foreign Exchange (Safe).

    • 06 Feb 2017
  • Hong Kong is not fit for unicorns

    The filing of form S-1, the draft registration statement for the proposed $3bn New York IPO of Snap, the $25bn parent company of messaging app Snapchat, was full of surprises — not all of them good for investors. If anything, it also showed that Hong Kong will, most likely, never be able to compete with the US exchanges when it comes to listing unicorns, writes our columnist Clawback.

    • 06 Feb 2017
  • Indonesia's Rimo makes smaller $307m cash call

    Rimo International has downsized its long delayed rights issue by almost half to Rph4.1tr ($307.5m), in the latest update to its fundraising.

    • 06 Feb 2017
  • BSE shares rocket on debut after $184m IPO

    Shares of India’s second largest stock exchange BSE traded up 49% on their debut on Friday, following the hugely successful Rp12.4bn ($184.1m) IPO in January.

    • 03 Feb 2017
  • No CNY blues: IPOs from HK to BKK vie for attention

    Activity is trickling back into Asia ECM as bankers return to their desks post Chinese New Year, with several Hong Kong IPOs looking to start pre-marketing and a Thai name testing investor appetite.

    • 03 Feb 2017
  • Climate impacts are here, get ready for 3C warming, warns Cicero

    Cicero, the climate research institute at Oslo University, has produced a report to help investors work out where they face risks from climate change, with red, orange and yellow flags for the severity and immediacy of threats.

    • 03 Feb 2017
  • Opacity of Glencore-QIA Rosneft deal worries lenders

    Loan bankers are demanding clarity on the true ownership of the 19.5% stake in Rosneft privatised at the end of last year, as Intesa Sanpaolo prepares to syndicate the €5.2bn loan it has provided to back the deal, write Dan Alderson and Jon Hay.

    • 02 Feb 2017
  • High hopes as EU starts green finance push

    Green finance leaders are hoping the European Union will come up with concrete initiatives to help the market, after its new official body on the subject met for the first time last week.

    • 02 Feb 2017
  • Goldman ups Dong sale to €874m in big week for equity blocks

    Europe’s equity block trade market kicked into a higher gear this week, with a rush of deals including big trades in Lonza, Worldpay and Dong Energy. The Dong trade on Thursday night, worth Dkr6.5bn (€874m), pushes the week’s total above €3bn.

    • 02 Feb 2017
  • European IPO market heats up as Detsky’s $430m deal gets covered

    The European IPO market is getting busier, with several deals launched this week, and another close to being priced.

    • 02 Feb 2017
  • UniCredit gets cracking with €13bn recap

    Shares in UniCredit, Italy’s largest bank, closed 1.7% lower on Thursday after it unveiled the terms for its fully underwritten €13bn recapitalisation late on Wednesday.

    • 02 Feb 2017
  • UBS comes out fighting after testing year

    A strong fourth quarter put a cap on a year in which UBS's investment banking model was severely tested, writes David Rothnie

    • 02 Feb 2017
  • Chinese issuers lead US Depositary Receipt offerings

    China-based companies topped the charts for IPOs and follow-on offerings in US Depositary Receipts (DRs) in 2016, accounting for more than half of all issuance in the format.

    • 02 Feb 2017
  • AU Financiers targets first half IPO in India

    India’s AU Financiers has filed a draft prospectus for its IPO, offering only secondary shares in a deal slated for the first half of this year.

    • 02 Feb 2017
  • Japan gaming firm Okura eyes HK listing

    Japanese slot machine operator Okura Holdings is looking to float shares in Hong Kong, filing a draft prospectus with the city’s bourse on Wednesday.

    • 02 Feb 2017
  • India eyes $1.6bn for coffers from insurance IPOs

    India will give a fillip to its treasury by raising Rp110bn ($1.63bn) from the listing of state-owned insurance companies, according to the national budget.

    • 02 Feb 2017
  • Block onslaught continues with Worldpay, Hella Hueck, Buwog sales

    The vibrant activity in the equity block trade market this week is continuing tonight, with three more selldowns of stock in European companies, including the last sale of stock in Worldpay, the UK payments group, by Advent International and Bain Capital, for about £600m.

    • 01 Feb 2017
  • Detsky Mir IPO covered, prices on Tuesday

    The IPO of Detsky Mir, Russia's largest toy retailer, is covered. It is set to be priced on Tuesday.

    • 01 Feb 2017
  • Deutsche’s head of EM ECM departs

    After 21 years at Deutsche Bank, Christopher Laing, head of EMEA emerging markets ECM, has left the bank.

    • 01 Feb 2017
  • HSBC names new equities head

    HSBC has promoted Hossein Zaimi to become global head of equities, replacing Patrick George in the role, who continues as EMEA global markets head.

    • 01 Feb 2017
  • M&A drives avalanche of ABBs as rights issues start rolling

    Tuesday night brought fireworks in the blocks market, with a wave of primary and secondary offerings, including a Sfr865m acquisition financing by a Swiss pharmaceutical.

    • 01 Feb 2017
  • All aboard: India sets out plans for railway IPOs

    Indian finance minister Arun Jaitley plans to continue the government’s disinvestment programme in the new financial year beginning in April, with IPOs of some state-owned railway companies on the cards.

    • 01 Feb 2017
  • Thailand's Gulf Group hires for 2017 IPO

    Power company Gulf Group has appointed a consortium of domestic and foreign firms to run its planned listing on the Stock Exchange of Thailand (SET) this year.

    • 01 Feb 2017
  • Sebi tackles conflicts of stock exchange IPOs

    The Securities and Exchange Board of India has issued a circular attempting to smooth the process of cross listing of bourses, just days after the Bombay Stock Exchange sealed its IPO.

    • 01 Feb 2017
  • BDO Unibank nets $1.2bn with Philippine rights issue

    Philippine lender BDO Unibank has sealed a rights issue worth Ps60bn ($1.2bn) in the largest ECM transaction in the country in nearly four years.

    • 01 Feb 2017

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 20 Feb 2017
1 JPMorgan 62,591.98 254 8.02%
2 Citi 61,005.69 220 7.81%
3 Bank of America Merrill Lynch 58,608.72 174 7.51%
4 Barclays 54,439.39 163 6.97%
5 Goldman Sachs 46,279.46 130 5.93%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 Deutsche Bank 7,631.43 12 11.03%
2 Bank of America Merrill Lynch 4,575.12 14 6.62%
3 Citi 3,984.96 10 5.76%
4 Commerzbank Group 3,849.81 7 5.57%
5 HSBC 3,720.28 13 5.38%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 21 Feb 2017
1 Goldman Sachs 1,774.56 8 9.26%
2 Morgan Stanley 1,728.90 15 9.02%
3 JPMorgan 1,456.77 11 7.60%
4 Bank of America Merrill Lynch 1,450.69 9 7.57%
5 UBS 1,317.06 9 6.87%