• Alfa Financial’s £254m IPO wows investors with 'unique' software

    Alfa Financial Software has completed one of this year’s hit IPOs, which was priced at the top of its range. “Pretty well every respectable investor who thinks about technology, either as a generalist or a specialist, wanted to own it,” said a banker on the deal.

    • 26 May 2017
  • Philippines’ Eagle Cement seals $151m float

    Eagle Cement Corp has found success with its Ps7.5bn ($150.5m) IPO, drawing in enough demand to cover the deal three times over.

    • 26 May 2017
  • Sinopec sends RFP for $10bn retail unit spin off

    China Petroleum & Chemical Corp has sent out a request for proposals for a potential $10bn spin off and listing of subsidiary Sinopec Marketing Co, according to bankers who received the invitation.

    • 26 May 2017
  • CBs return with hit deals for spicy GN Store and Implats

    The drought of equity-linked bond issuance in EMEA has suddenly ended this week, with the launch of two deals in three days, by GN Store Nord, the Danish maker of hearing aids and audio devices, and Impala Platinum Holdings, the South African mining company.

    • 25 May 2017
  • Block market party powers on with Koç, OSB, Fever-Tree trades

    On Wednesday night, the vibrant trading in the equity blocks market continued with several large deals from Turkey and the UK.

    • 25 May 2017
  • Blockbusting equity market buys into blossoming Europe

    Pricing in Europe's equity block trade market has tightened markedly, following large inflows of funds into European equities in the weeks since the first round of the French election, as investors queue up for more exposure to a continent primed for growth and now largely free of political risk, writes Aidan Gregory.

    • 25 May 2017
  • Coen crosses fingers for elusive Basel IV deal

    The Basel Committee’s William Coen said in a speech on Thursday that he was hopeful that the Basel III post-crisis reforms could be finalised in the ‘near future’, but capital markets participants have grown weary of hearing that progress is just around the corner. They still expect to be waiting for quite some time before any agreement on calibrating capital floors.

    • 25 May 2017
  • Reliance Infra gets Sebi nod to float InvIT

    Reliance Infrastructure has received the final go ahead from India’s market regulator to list its infrastructure investment fund, putting it on track to be the country’s third InvIT IPO.

    • 25 May 2017
  • The blocks business is back in Asia

    Block deals are being printed in Asia with a vengeance this year, with follow-on activity already double that of IPOs. In the past few weeks, successive overnight bookbuilds and IPOs kept bankers busy as stocks hit record highs. Barring a major upset, the gravy train looks set to continue, writes John Loh.

    • 25 May 2017
  • Throsby out to conjure up the spirit of Barcap

    Tim Throsby’s revamp is designed to switch Barclays back to a risk-on mindset and reignite growth in its European corporate finance business, writes David Rothnie

    • 25 May 2017
  • WuXi Biologics starts strong on $510m HK IPO

    WuXi Biologics’ HK$3.9bn ($510.4m) IPO is off to a resounding start, with books multiple times covered within hours of opening on Thursday, according to bankers close to the deal.

    • 25 May 2017
  • Second Hella block this year priced at 1.6% discount

    On Tuesday night, the Hueck family, which controls Hella Hueck & Co, sold a 2% stake in the company at a very slim discount.

    • 24 May 2017
  • Deutsche Bank appoints new UK ECM head

    Deutsche Bank has named a new head of UK equity capital markets.

    • 24 May 2017
  • SEBT engineers $158m Daewoo E&C sell-down

    South Korea’s SEBT Investment has sold a second block in Daewoo Engineering & Construction Co in as many months, raising W177.6bn ($157.9m).

    • 24 May 2017
  • Blocks market robust as Hella, Konecranes, Kion are priced at tight discounts

    The momentum in the equity block trade market is evident this week, as several large trades have been priced at extremely tight discounts. The drought of equity-linked deals also ended this week, with a zero coupon note issued by a Danish hearing equipment maker.

    • 24 May 2017
  • Lotte Chemical targets $1.4bn from Malaysia IPO

    Lotte Chemical Titan, the Malaysia-based arm of South Korean conglomerate Lotte Group, has fixed a ceiling price for its MR5.9bn ($1.4bn) IPO.

    • 24 May 2017
  • Singapore internet firm Sea files for US IPO

    Internet and mobile platform company Sea, formerly known as Garena Interactive Holding, is planning a US IPO, according to a source familiar with the matter.

    • 24 May 2017
  • IOC pitches for $956m sell down on Thursday

    The Indian government is hearing pitches from 10 firms on Thursday for its sell down in Indian Oil Corp worth some Rp62bn ($956m).

    • 24 May 2017
  • Axis Reit moots $108m block to pay down debt

    Malaysia’s Axis Real Estate Investment Trust is planning a placement of new units that could raise some MR465.4m ($108.1m), said the company.

    • 24 May 2017
  • Medicover trades up 17% on debut as Nordic IPOs shine

    Shares in Medicover, the Swedish diagnostic services provider, closed 17% higher on their trading debut on Tuesday after the company finished its Skr2bn (€207m) IPO on Nasdaq Stockholm, having priced the deal at the mid-point of its range.

    • 23 May 2017
  • Goldman Sachs leads Kion Group, Just Eat block trades

    On Monday night, Kion Group, the German forklift truck maker, completed a €602m capital increase to refinance its acquisition of Dematic, a specialist automation company, through an accelerated bookbuild led by Goldman Sachs.

    • 23 May 2017
  • Desperately seeking subsidy

    Balancing public money with private profit can be a challenge, and Brexit makes it doubly difficult. The European Investment Bank is set to become something of a football in negotiations between the UK and the EU27 — and the UK’s corporates could stand to lose out. What, if anything, should replace it?

    • 23 May 2017
  • Daewoo owner eyes quick return with $160m block

    SEBT Investment Co is once again looking to pare its stake in South Korea’s Daewoo Engineering & Construction Co after a rally in the stock, this time with a W177.6bn ($160m) overnight sale.

    • 23 May 2017
  • Firms prep bids for Indian railway company divestments

    India’s divestment body has set the pitching schedules for bidders on the IPOs of state-owned Rail Vikas Nigam (RVNL) and Rites, according to announcements on its website.

    • 23 May 2017
  • Hudco IPO: looks can be deceiving

    The first IPO of an Indian state firm in five years met with roaring approval from investors, as Housing and Urban Development Corp’s (Hudco) success in primary spilled over into its trading debut. Books were nearly 80x covered and the stock has surged as much as 30%. But it would be a mistake to read too much into the deal.

    • 23 May 2017
  • Corporation Bank gets board nod for Rp35bn fundraise

    India’s Corporation Bank has won approval from its board of directors to raise up to Rp35bn ($540.2m) in capital, according to an exchange filing on Monday.

    • 23 May 2017
  • Chinese cable producer Putian eyes HK IPO

    China’s Putian Communication Group is vying for approval to list in Hong Kong, according to a draft prospectus filed with the city’s exchange on Monday.

    • 23 May 2017
  • NLB sells Istrabenz stake before IPO

    Nova Ljubljanska Banka, Slovenia's largest bank, has sold its entire 13.1% stake in Istrabenz, the conglomerate, ahead of NLB's long awaited reprivatisation, according to a regulatory filing on Monday.

    • 22 May 2017
  • Boozt's IPO covered throughout its range

    The Skr1.4bn (€143m) IPO of Boozt, the Nordic online fashion retailer, was this week covered at its maximum size throughout its price range.

    • 22 May 2017
  • India Grid powers on with $351m InvIT IPO

    India Grid Trust has priced its Rp22.5bn ($351m) IPO at the high end of the range despite being stung by IRB InvIT Fund’s poor debut.

    • 22 May 2017
  • India delays deadline for NLC OFS proposals

    India’s divestment body has pushed back the request for proposals deadline for merchant banker and selling broker positions on the sell-down in mining and power firm NLC India.

    • 22 May 2017
  • India IPOs: Shalby, Dixon file as CDSL, Tejas launch

    Indian hospital operator Shalby filed a draft red herring prospectus last Friday for a possible Rp7bn ($108m) IPO via three bookrunners.

    • 22 May 2017
  • CDH slices off WH Group chunk for $745m

    Private equity firm CDH has sold off a block of shares in Chinese meat processing company WH Group, netting HK$5.79bn ($744.9m) on the back of strong long-only demand.

    • 22 May 2017
  • Munters sparkles on day one after Skr4bn IPO

    Shares in Munters, the Swedish climate control systems group backed by Nordic Capital, traded as much as 26% above their offer price on Friday after they began trading on Nasdaq Stockholm after its Skr4bn (€422m) IPO.

    • 19 May 2017
  • Sibanye Gold brings R13.5bn rights offer for Stillwater acquisition

    A sell-off of shares in Sibanye Gold, one of the largest South African gold mining companies, entered its second day on Friday after the company unveiled terms for a highly dilutive R13.5bn ($1bn) rights issue on Thursday morning.

    • 19 May 2017
  • Permira exits Telepizza in €52m ABB, way below float price

    Permira has offloaded the rest of its shares in Telepizza, the Spanish pizza delivery company, just over a year after the company’s troubled €550m IPO in April 2016.

    • 19 May 2017
  • United Bank eyes $154m from equity raise

    United Bank of India’s board has approved a plan to raise equity worth up to Rp10bn ($154m), the lender said in a filing on Thursday.

    • 19 May 2017
  • Bright Scholar pops on NYSE trading debut

    Bright Scholar Education Holdings’ decision to price its IPO above the range paid off handsomely as the stock surged over 30% on its debut on the New York Stock Exchange.

    • 19 May 2017
  • SAP opens subscription for Cambodia’s fifth IPO

    The subscription period has kicked off for the IPO of Sihanoukville Autonomous Port, set to be the fifth and largest listing in Cambodia.

    • 19 May 2017
  • China Mengniu Dairy churns out $195m EB

    China Mengniu Dairy has sealed a $194.8m exchangeable bond following a strong response from investors during wall-crossing, according to a source close to the deal.

    • 19 May 2017
  • Apollo Hospitals clean-up nets IHH $128m

    Malaysia’s IHH Healthcare completed its exit from Apollo Hospitals Enterprise on Thursday, but not without some behind the scenes drama as rival banks tried to muscle in on the trade.

    • 19 May 2017
  • Trump trashes primary market party

    What, on Wednesday, seemed to be primary capital markets gung-ho for any deal imaginable by Thursday looked more like a market on the skids as concerns intensified over the endless controversies dogging US president Donald Trump’s administration.

    • 18 May 2017
  • Bull run can charge through Trump but not forever

    Wednesday’s sharp fall in the S&P 500, as the political storm around US president Donald Trump’s links with Russia intensified, has not turned into a market rout... yet. Equities bankers, indeed, are convinced it is a blip, saying investor appetite for stocks remains strong.

    • 18 May 2017
  • Suez raises €750m via block and clawback for GE Water takeover

    Suez Environnement, the French water and waste company, launched a €750m capital increase this week, to partly finance its €2.55bn contribution to the takeover of GE Water, in partnership with Caisse de dépôt et placement du Québec.

    • 18 May 2017
  • Credit Suisse names Americas IB heads

    Credit Suisse has appointed Andy Lipsky and David Wah co-heads of investment banking and capital markets for the Americas, a new regional management role for the bank.

    • 18 May 2017
  • Game still on for ECM blocks despite Trump sell-off

    Stockmarkets in the US and Europe faltered this week due to the FBI controversy embroiling President Trump. Yet the EMEA equity block trades market has been ferocious, with 20 deals, and bankers are relaxed about the threat of a market correction.

    • 18 May 2017
  • Digi loses IPO pop as CEO is investigated

    Shares in Digi Communications, the recently listed Romanian telecoms and media group, closed below its IPO price on Thursday, after it confirmed on Wednesday that its CEO Serghei Bulgac had been included in a bribery and money laundering investigation that had already involved two senior executives and a former CEO.

    • 18 May 2017
  • UBS wins cost battle but fights FIG turf war

    The Swiss bank has proved to be world class in generating returns and cutting costs. Now it faces a direct assault from rivals on its core business, writes David Rothnie.

    • 18 May 2017
  • JP Morgan shuffles senior IB team in Apac

    JP Morgan has reshuffled its senior investment banking team in Asia Pacific, with changes spanning ECM, DCM and M&A.

    • 18 May 2017
  • Investors flock to VPBank's planned $250m IPO

    Vietnam Prosperity Joint Stock Commercial Bank is drumming up interest for its planned IPO, set to be one of the largest in the country at $250m. The trade is already in hot demand, as foreign interest in the country grows and domestic investors seek out more stocks. Jonathan Breen reports.

    • 18 May 2017
  • India awash in jumbo QIPs as stocks notch record highs

    Companies in India are once again turning to qualified institutional placements (QIPs) to meet their fundraising needs, as issuers take advantage of a liquidity driven rally.

    • 18 May 2017
  • Feihe, Foxconn and Nissin file to float in HK

    China Feihe filed a listing application in Hong Kong on Wednesday, four years after it was taken private from the New York Stock Exchange.

    • 18 May 2017
  • MRCB eyes $660m from rights transaction

    Malaysian Resources Corp is looking to raise some MR2.9bn ($660.3m) from a rights offering to repay debt and fund its property development activities.

    • 18 May 2017
  • PAI Partners launches clean-up Kaufman & Broad block

    The momentum in the equity block trade market this week continued on Wednesday night, despite US markets faltering due to the FBI controversy embroiling Donald Trump, with the sale of 16.5% of French home builder Kaufman & Broad by PAI Partners.

    • 17 May 2017
  • GIC, Bain, CVC light up equity blocks market

    There has been an explosion of equity block trades in Europe this week, led by a sovereign wealth fund, plus several new capital deals. The IPO market is also busy, with several new deals launched.

    • 17 May 2017
  • Foxconn unit plots IPO comeback in HK

    FIT Hon Teng has refiled for an IPO in Hong Kong after shelving the deal last year due to poor investor demand, returning with the same three sponsors.

    • 17 May 2017
  • Fosun Pharma reels in $298m from placement

    Shanghai Fosun Pharmaceutical (Group) Co has raised HK$2.3bn ($298.4m) from an overnight bookbuild after selling the entire increase option, in a trade embraced by long-only investors.

    • 17 May 2017
  • Firms ready pitches for India divestment mandates

    India’s divestment body has revealed the pitch schedules for a series of government sell-downs, each of which is set to include a mix of foreign and domestic firms vying for lead roles.

    • 17 May 2017
  • Strong start for India Grid $351m InvIT

    India Grid Trust has launched the country’s second infrastructure investment trust (InvIT) IPO that is worth Rp22.5bn ($351m), with anchor investors taking up 45% of the trade.

    • 17 May 2017
  • Bright Scholar $150m IPO covered across range

    Bright Scholar Education Holdings, which is set to price its $150m US float at the end of Wednesday, has received a big thumbs up from investors.

    • 17 May 2017
  • JP Morgan appoints new Apac DCM, ECM heads

    JP Morgan has named new heads of equity and debt capital markets for Asia Pacific, as well as co-heads of M&A for the region, according to an internal memo seen by GlobalCapital Asia.

    • 17 May 2017
  • CVC brings first Ahlsell ABB at chunky size of €470m

    CVC has launched the first ever block trade in Ahlsell, the Swedish wholesaler of plumbing and electrical installation products that floated in Stockholm in October 2016.

    • 16 May 2017
  • GIC back for another block: Sfr292m of Straumann

    After selling Sfr1.5bn of UBS shares on Monday night, GIC, the Singaporean sovereign wealth fund, returned with another equity block trade on Tuesday – this time to sell a stake in Straumann Holding, the Swiss maker of dental implants.

    • 16 May 2017
  • Barclays’ Halperin returns to US

    Steven Halperin, co-head of EMEA equity capital markets at Barclays Capital, is leaving that job and will return to the US, to a different role at Barclays. He is already spending more of his time in the US.

    • 16 May 2017
  • Barclays lays out capital markets leadership, Brown to leave syndicate

    Following the new structure announced in Barclays banking and markets business last week, JF Astier, who now heads capital markets, has laid out the senior leadership of the business, and Jonathan Brown, co-head of IG syndicate, has moved to a new job.

    • 16 May 2017
  • GIC cuts losses on UBS investment to redeploy cash

    GIC, one of Singapore’s two sovereign wealth funds, has sold a chunk of the stake in UBS it acquired before the financial crisis, through a mandated block trade led by UBS’s own investment bank.

    • 16 May 2017
  • Bpifrance exits Eiffage in €428m block, down 1.1%

    Bpifrance, the French state-owned investment bank, has exited Eiffage, the construction and engineering group, after selling its remaining stake in a €428m block trade that was covered inside half an hour.

    • 16 May 2017
  • MBK pares down Coway holding with $330m block

    MBK Partners has shed part of its stake in South Korea’s Coway Co, netting W370.5bn ($329.8m) with the shares pricing at the bottom of guidance.

    • 16 May 2017
  • Bumi Resources preps $2.6bn equity raise

    Indonesian coal miner Bumi Resources has set the shareholder entitlement for its Rph35.1tr ($2.6bn) fundraising plans, which include a rights offer and the sale of mandatory convertible bonds.

    • 16 May 2017
  • WuXi BioLogics sets stage for $500m HK float

    WuXi BioLogics will kick off pre-deal investor education for its Hong Kong IPO on Wednesday as it looks to raise $400m-$500m.

    • 16 May 2017
  • CS hires senior Japan banker for advisory role

    Credit Suisse has named Tsunehiro Watabe as senior adviser in Japan to drive the Swiss firm’s focus on entrepreneurs and its integrated wealth-plus-investment banking product.

    • 16 May 2017
  • Slovenia starts privatisation of Nova Ljubljanska at last

    Slovenian Sovereign Holdings (SSH), which manages Slovenian state assets, has begun the privatisation of Nova Ljubljanska Banka, the country’s largest bank, having published an intention to float document on Monday morning.

    • 15 May 2017
  • Senior equity-linked banker heads to SHK Financial

    A seasoned equity-linked banker formerly with several bulge bracket firms in Hong Kong has moved to a local brokerage.

    • 15 May 2017
  • Pakistan exchange awaits public feedback on OFS

    The Pakistan Stock Exchange is planning to sell 20% of its share capital to the public and is seeking comments on its draft offer document, according to a filing.

    • 15 May 2017
  • SBI Life picks eight firms for $900m IPO

    State Bank of India has roped in eight firms to manage the up to $900m IPO of its insurance arm, according to bankers.

    • 15 May 2017
  • India’s Piramal, Federal Bank moot $1.2bn in deals

    Piramal Enterprises’ board has approved an up to Rp50bn ($780m) equity raise, with the firm now looking to get the nod from shareholders.

    • 15 May 2017
  • BoCom International seals $231m HK IPO

    Bank of Communications’ investment banking arm has scooped up HK$1.8bn ($231.2m) from its IPO, pricing near the bottom of guidance to ensure a quality book.

    • 15 May 2017
  • Oishii! Nissin Foods seeks HK listing

    Nissin Foods Company, part of the Japanese instant noodle giant, has filed a listing application with the Hong Kong Stock Exchange.

    • 15 May 2017
  • Turkey’s Global Ports floats in London with retail help

    Global Ports Holding, the Turkish company that owns 15 ports in the Mediterranean and further afield, has priced its London IPO just above the bottom of the range, achieving a £465m market capitalisation. The shares are trading up about 1.75%.

    • 12 May 2017
  • Hail of blocks after Macron win, with Bravida, Spie, Ladbrokes

    The victory of Emmanuel Macron in France’s presidential election has helped unleash a wave of equity block trades this week, even though the real boost to investor sentiment came after the first round of the election on April 23.

    • 12 May 2017
  • Kotak snaps up $902m from 2nd largest India QIP

    Kotak Mahindra Bank closed a bumper equity raise on Friday that fetched Rp58bn ($902m), in what bankers hailed as another flagship Indian qualified institutional placement.

    • 12 May 2017
  • Hudco seals 80x subscribed Rp12bn IPO

    Indian state-owned Housing and Urban Development Corp has wrapped up a Rp12bn ($186.6m) IPO nearly 80x covered, following a deluge of investor demand on the final day of bookbuilding.

    • 12 May 2017
  • Yongda Auto bags lucky HK$888m from top-up

    China Yongda Automobiles Services Holdings has raised HK$888.3m ($114.6m) overnight from a top-up placement, pricing the shares off the bottom of the marketed range.

    • 12 May 2017
  • SE Asia IPOs: HRnet begins IE, Eagle Cement prices

    Singapore’s HRnetGroup will be pre-marketing a S$150m ($107m) Reg S only IPO until the end of May, according to sources close to the float.

    • 12 May 2017
  • Digi’s Romanian IPO a blowout despite bribery investigation

    Digi Communications, the fast-growing Romanian telecoms and media group, has successfully completed a €190m IPO, the first from the country this year, despite being hit during the bookbuild by news that some of its senior executives were being investigated for bribery and money laundering, and the fact that voting rights remain controlled by the founder.

    • 11 May 2017
  • Lonza raises Sfr2.25bn in successful Capsugel rights issue

    Lonza, the Swiss pharmaceuticals group, has completed its Sfr2.25bn rights issue, to part-finance its takeover of Capsugel, the US maker of medicine capsules, from KKR.

    • 11 May 2017
  • Banking head Dean to retire, Barclays revamps investment bank

    Sam Dean, head of corporate finance for Europe at Barclays, is to retire from the bank and the industry, amid a sweeping reorganisation of Barclays' investment bank as its new head Tim Throsby makes his first major overhaul of management.

    • 11 May 2017
  • Tritax Big Box bags £350m in ninth cap raise

    Tritax Big Box Reit, the real estate investment trust that owns large UK logistics warehouses, raised £350m on Thursday as it closed its latest equity capital raising oversubscribed, at an increased size.

    • 11 May 2017
  • VolkerWessels’ €575m IPO completed as investors warm to Europe and yield

    Shares in Koninklijke VolkerWessels, the Dutch construction and engineering company, had risen 3.8% by lunchtime when they began trading in Amsterdam on Friday, after the company's €575m IPO had been priced at €23 a share.

    • 11 May 2017
  • EU aims to approve 'Juncker plan' extension before summer

    The European Parliament is set to approve the extension of the European Fund for Strategic Investment until 2020, opening the way for negotiations with the 28 member states of the EU, which is the last step before final approval.

    • 11 May 2017
  • Goldman’s shake-up brings forward the next generation

    The raft of promotions in the upper echelons of the Goldman Sachs investment banking department has been called "the most dramatic overhaul in a decade". In a way this is true – Goldman has lost some of its most senior bankers over the last 12 months and last week's reshuffle was an emphatic move to promote the next generation of bankers, writes David Rothnie.

    • 11 May 2017
  • Investors treated to chunky block as Packer exits Macau JV

    Australian billionaire James Packer unwound the last of his position in a Macau joint venture with Hong Kong scion Lawrence Ho this week. Packer raked in $1.2bn from an unusually structured deal that included a $337m block trade, capturing the attention of Asian and US investors. Jonathan Breen reports.

    • 11 May 2017
  • Bright Scholar covers $150m NYSE listing

    Bright Scholar Education Holdings had covered its $150m US IPO as of Monday, according to bankers arranging the deal.

    • 11 May 2017
  • WuXi Bio seeks green light for $300m Hong Kong listing

    WuXi BioLogics, which is planning a $200m-$300m IPO in Hong Kong, is set to begin investor education next week if the stock exchange grants it approval at a listing hearing on May 15, said a banker close to the deal.

    • 11 May 2017
  • Investors dive head-first into debut $727m Indian InvIT

    It was a slam dunk for India’s first infrastructure investment trust, which raised Rp46.5bn ($727.4m) after IRB InvIT Fund priced its IPO comfortably at the top of expectations.

    • 11 May 2017
  • People moves in brief, May 11, 2017

    HSBC levfin banker moves to BAML — Axis Bank promotes HK credit head — UBS banking moves — Apac corporate finance head at FAB — AmBank hires from RHB — Citic CLSA names global M&A head — Sim to runhelm CMS equities — Asifma head of equities exits

    • 11 May 2017
  • SBI hiring six banks to lead $2bn equity fundraise

    State Bank of India is looking for up to six firms to lead a qualified institutional placement or follow-on public offer, issuing a request for proposals on Tuesday.

    • 11 May 2017
  • It’s raining blocks: HK deals vie for attention

    If ever there was competition in the overnight block market in Hong Kong, then Wednesday was it: four deals were priced to raise a combined $630m.

    • 11 May 2017
  • Aroundtown issues €426m of shares to finance CB tender

    Aroundtown Property Holdings, the Germany-focused property company, raised €426m on Tuesday evening to finance a tender offer for convertible bonds due in 2020, via a popular block trade that was covered in 45 minutes.

    • 10 May 2017
  • Pre-summer IPO window wide open after Macron relief

    The victory of Emmanuel Macron in France's presidential election opens wide the window between now and the UK general election for IPOs to be done. The block trades market is also strong, with several large deals completed so far this week.

    • 10 May 2017
  • BoCom International covers $266m HK float

    BoCom International Holdings Co has covered its HK$2.1bn ($265.6m) IPO after opening books last Friday with a strong cornerstone base, according to a banker on the deal.

    • 10 May 2017
  • Kotak gets green light for $887m share sale

    Shareholders of India’s Kotak Mahindra Bank have given it the nod to raise equity, in a deal that could fetch Rp57.3bn ($887m) based on its market price.

    • 10 May 2017
  • Matrimony.com back for IPO with new bookrunning group

    India’s most popular matchmaking website Matrimony.com has refiled for an IPO with a new syndicate team and a smaller fundraising target.

    • 10 May 2017
  • Climate control group Munters opens IPO

    Munters, the Swedish maker of air conditioning systems, has set the terms for its IPO on the Nasdaq Stockholm, which, if completed, will value it at Skr10.1bn (€1.05bn).

    • 09 May 2017
  • SBI issues RFP as India Grid sets price range

    State Bank of India will pick up to six firms for a proposed qualified institutional placement or follow-on public offer, according to a request for proposals sent on Tuesday.

    • 09 May 2017
  • AMTD insurance arm files for HK float

    AMTD Strategic Capital Group, the insurance brokerage arm of AMTD Group, is planning to list in Hong Kong, according to a filing with the stock exchange on Monday.

    • 09 May 2017
  • IEX plans listing as IRB prices first InvIT IPO

    Indian Energy Exchange has hired two local banks for an expected Rp7bn ($108m) IPO slated for the current financial year ending March 2018, said sources close to the matter.

    • 09 May 2017
  • India InvITs should spread their wings and fly

    IRB InvIT Fund brought India’s first infrastructure investment trust to market last week, making history with its Rp46.5bn ($727.4m) IPO. Books closed with demand for nearly 9x the shares available, in a huge boon for the asset class. But while the trade sets a high bar, future issuers need not follow its template.

    • 09 May 2017
  • Packer exits Melco Crown via $337m block

    Australian billionaire James Packer has cashed in his remaining stake in his Macau joint venture with Hong Kong gaming tycoon Lawrence Ho, netting $1.2bn in the process.

    • 09 May 2017
  • Goldman Sachs sells Dong, Hastings shares after Macron win

    Equity block trading began smartly on Monday evening after Emmanuel Macron generated relief across markets by winning the French presidency on Sunday. Goldman Sachs brought two trades for its own private equity arm.

    • 08 May 2017
  • Alfa Financial Software in rare London tech IPO

    Alfa Financial Software Holdings, the UK financial software company, has announced its intention to float on the London Stock Exchange.

    • 08 May 2017
  • Bright Scholar launches IPO as Wuxi seeks hearing

    Books for Bright Scholar Education Holdings’ $150m IPO in the US were covered as of Monday, according to bankers arranging the deal.

    • 08 May 2017
  • IRB InvIT closes hugely popular $727m IPO

    India’s first infrastructure investment trust bounded to a solid finish with IRB InvIT Fund’s Rp46.5bn ($727.4m) IPO closing 8.6x covered.

    • 08 May 2017
  • Inmobiliaria Colonial raises €253m for new assets at 2.9% discount

    Inmobiliaria Colonial, the Spanish property company, successfully raised €253m on Thursday night in a 10% capital increase to finance new investments, capping a busy week for block trades.

    • 05 May 2017
  • Cobham hopes to turn a corner as rights issue wins 98% take-up

    Cobham, the UK aerospace and marine technology company, has finished its second rights issue in 12 months, after the leads completed a small rump placement.

    • 05 May 2017
  • Edra moots IPO as IWH-1MDB saga grips Malaysia

    Edra Global Energy, the Malaysian power producer owned by China General Nuclear Power Corp, is understood to be seeking banks for a potential IPO – though in an intriguing fashion.

    • 05 May 2017
  • GRCB to kick off pre-marketing for $1bn IPO

    Guangzhou Rural Commercial Bank Co will drum up interest for its $1bn Hong Kong IPO next week, said bankers on the trade.

    • 05 May 2017
  • Belt & Braces for Belt & Road issuers

    In the latest Clawback, columnist Philippe Espinasse turns his focus to the listing of infrastructure project companies in Hong Kong, saying that IPOs of Belt and Road issuers could be a big challenge.

    • 05 May 2017
  • BoCom launches $266m IPO via 14 at the helm

    BoCom International Holdings Co has opened books for its HK$2.1bn ($265.6m) IPO in Hong Kong via a 14 member syndicate, with nearly a third of the shares snapped up by cornerstone investors.

    • 05 May 2017
  • AmBank poaches senior ECM banker from RHB

    A senior ECM banker in Malaysia has left RHB Investment Bank to join AmInvestment Bank, taking on a broader role encompassing ECM as well as the entire equities franchise.

    • 05 May 2017
  • Belgium sells 2.5% of BNP Paribas as banks reach for plucky block trade

    The Belgian government sold the first chunk of its stake in BNP Paribas for €2bn through a structured trade that began on Wednesday night. The four bookrunners priced the trade aggressively and were left long of some stock, but luck has been with them so far, write Jon Hay and Aidan Gregory. They will be praying their fortune holds and Emmanuel Macron wins the second round of the French presidential election on Sunday.

    • 04 May 2017
  • VolkerWessels IPO gets covered after two days

    The IPO of VolkerWessels, the Dutch construction and property development company owned by the Wessels family, achieved coverage on its full deal size by Wednesday morning, two working days into the bookbuild.

    • 04 May 2017
  • Macron raises stakes in battle for French mandates

    France’s investment bankers will be keen to prove their top level political connections following Emmanuel Macron's election as president, writes David Rothnie.

    • 04 May 2017
  • Neepco and MSTC bid deadlines extended

    India’s government divestment agency has extended the deadline for firms to bid for roles in the Iistings of North Eastern Electric Power Corp (Neepco) and MSTC.

    • 04 May 2017
  • IRB off to slow start on first India InvIT IPO

    Bookbuilding for IRB InvIT Fund’s Rp46.5bn ($727.4m) IPO is having a slow start despite the hype surrounding India’s first infrastructure investment trust.

    • 04 May 2017
  • Crystal on track for $800m Hong Kong listing

    Crystal International Group has filed a listing application with the Hong Kong Stock Exchange for a $600m-$800m IPO.

    • 04 May 2017
  • Pakistan spurs IPO market with new framework launched

    The Securities and Exchange Commission of Pakistan is giving a fillip to its IPO market, rejigging rules to make the equity-raising process more efficient and less time consuming.

    • 04 May 2017
  • Telia reduces its stake in Turkcell by 7% via TL1.77bn block trade

    Telia, the Nordic telecoms group, came to market on Wednesday night with a large block trade in Turkcell, the Turkish firm in which it owned 38% directly and indirectly.

    • 03 May 2017
  • Belgium sells 2.5% of BNP Paribas in €2bn block trade

    On Wednesday night, the Belgian state conducted one of the largest equity block trades of the year so far – a 2.5% stake in BNP Paribas.

    • 03 May 2017
  • Kuwait Energy brings largest European oil and gas IPO since 2014

    Kuwait Energy, the independent Kuwaiti oil and gas company, is to test investor appetite towards the recovering energy sector, having announced the launch of its long awaited IPO on the London Stock Exchange on Wednesday morning.

    • 03 May 2017
  • Ex-Deutsche country head joins Kepler Cheuvreux for corporate finance

    Maroan Maizar, the former country head for Deutsche’s capital markets businesses in Switzerland, has joined Kepler Cheuvreux to work on Swiss corporate finance.

    • 03 May 2017
  • Pre-summer IPO pipeline grows with Kuwait Energy, Medicover

    Despite a public holiday on Monday and the second round of the French presidential election due this Sunday, the IPO market is vibrant, with two more names joining the pre-summer pipeline so far this week.

    • 03 May 2017
  • Global Ports opens the books for London float

    Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.

    • 02 May 2017
  • Medicover plans Skr2bn diagnostic services IPO

    Medicover, the Swedish diagnostic services provider, on Tuesday joined the growing number of European companies seeking to go public before the summer, announcing its intention to float on Nasdaq Stockholm.

    • 02 May 2017
  • S Chand wraps up $114m IPO 60x subscribed

    Indian textbook publisher S Chand and Co has sealed its Rp7.3bn ($113.7m) IPO 59.5 times subscribed after a burst of demand on the last day of bookbuilding.

    • 02 May 2017
  • Quam Financial Services eyes HK$5bn rights issue

    Quam Financial Services Group, an arm of Mainland conglomerate China Oceanwide Holdings, is seeking shareholder approval for a HK$5.1bn ($659.8m) rights issue.

    • 02 May 2017

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 13 Mar 2017
1 JPMorgan 94,925.33 384 8.39%
2 Citi 87,531.58 331 7.74%
3 Bank of America Merrill Lynch 84,341.49 288 7.46%
4 Barclays 75,288.19 241 6.66%
5 Goldman Sachs 68,504.71 208 6.06%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 16 May 2017
1 Deutsche Bank 19,381.65 47 8.82%
2 Bank of America Merrill Lynch 18,968.25 36 8.63%
3 HSBC 18,103.95 50 8.24%
4 BNP Paribas 8,911.57 55 4.05%
5 SG Corporate & Investment Banking 8,885.00 54 4.04%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 23 May 2017
1 JPMorgan 8,714.26 35 8.36%
2 UBS 8,283.47 33 7.95%
3 Goldman Sachs 7,736.57 37 7.42%
4 Citi 6,897.11 46 6.62%
5 Bank of America Merrill Lynch 6,215.31 24 5.96%