China’s 'Nasdaq': expect a rocky start

China has set the official rules for its Nasdaq-style tech board. It is undoubtedly a step forward for China’s equity capital market, but it should not be a surprise if a bubble forms soon after it launches.

  • By Jonathan Breen
  • 05 Mar 2019
The Science and Technology Innovation Board, part of the Shanghai Stock Exchange, will have various features new to the mainland market. For one, the China Securities Regulatory Commission is taking a step back by testing a registration-based IPO application system, which gives issuers control over when or if ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 21.17
2 China Merchants Securities Co 17.84
3 Industrial and Commercial Bank of China (ICBC) 14.86
4 Agricultural Bank of China (ABC) 10.81
5 China Securities 9.01

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 CITIC Securities 8,165.85 33 9.72%
2 Goldman Sachs 6,894.63 24 8.21%
3 Morgan Stanley 4,815.98 33 5.73%
4 UBS 4,491.81 28 5.35%
5 China International Capital Corp Ltd 4,340.56 23 5.17%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 15,042.14 131 8.44%
2 Citi 10,101.99 81 5.67%
3 JPMorgan 9,703.04 62 5.44%
4 Credit Suisse 6,502.92 50 3.65%
5 Bank of America Merrill Lynch 6,256.12 50 3.51%

Asian polls & awards

  • GlobalCapital Asia capital markets awards 2018: Investment banks

    In the fourth and final instalment of GlobalCapital Asia’s capital markets awards announcements, find out the Best Asian Investment Bank and the Best Investment Bank in the region for 2018.

  • GlobalCapital Asia capital markets awards 2018: Bonds

    In part three of our results announcements, we reveal the winning bond deals across a variety of categories. In addition, we also name the Best G3 Bond House, Best Local Currency Bond House, Best High Yield Bond House and the debut winner of the Best House for SRI Financing.

  • GlobalCapital Asia capital markets awards 2018: Equities

    In part two of our results announcements, we reveal the winning equity deals and banks, including the Best Follow-on/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

  • GlobalCapital Asia capital markets awards 2018: Loans

    GlobalCapital Asia has spent the last two months talking to banks and their clients in a bid to determine the most impressive capital markets transactions and advisers across Asia ex-Japan in 2018. We are pleased to begin our awards announcements in the loan market.

  • GlobalRMB awards: Most impressive issuers, best law firm

    In this third part of the GlobalRMB awards, we present our reasons for choosing the best issuers in the FIG, corporate and SSA categories — and praise the strong performance of one well-known foreign law firm.