Alibaba launches HK IPO, covered in hours despite local turmoil

Alibaba Group Holding has kicked off its up to $13.4bn Hong Kong IPO, set to be the largest listing on the bourse for nearly a decade. Bankers are confident the deal will be a success, but they are navigating challenging times in the city’s stock market, which plunged this week as violence during protests escalated. Jonathan Breen reports.

  • By Jonathan Breen
  • 14 Nov 2019

Hong Kong’s benchmark Hang Seng Index was hit hard this week after a flare-up in the protests that have become a daily fixture in the territory since June. The index, which tracks the HKEX’s 50 largest stocks, lost nearly 5% from its open on Monday to Thursday afternoon.

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Bank of China (BOC) 18.86
2 Industrial and Commercial Bank of China (ICBC) 14.39
3 China Merchants Bank Co 14.21
4 China Merchants Securities Co 8.85
5 Agricultural Bank of China (ABC) 5.90

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 China International Capital Corp Ltd 3.43 16 14.03%
2 China Securities Co Ltd 3.30 5 13.53%
3 Morgan Stanley 2.76 8 11.31%
4 CITIC Securities 1.95 6 7.99%
5 Citi 1.50 9 6.14%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Citi 5.04 24 8.43%
2 HSBC 4.17 35 6.98%
3 UBS 3.58 19 5.99%
4 BofA Securities 3.53 11 5.91%
5 Credit Suisse 3.37 24 5.64%

Asian polls & awards

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