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Prospectus shambles leaves red faces but red hot Sun Art escapes

Sun Art Retail Group escaped what could have been a humiliating failure last week when a mistake was spotted in its prospectus just days before the hypermarket operator was due to list. The company was forced to issue a supplemental prospectus on Monday to correct its financial information — and ask investors to confirm their orders in the HK$8.2bn ($1.05bn) IPO that was priced two weeks ago.

  • 21 Jul 2011

Strong demand for the stock meant investors confirmed over 98% of their orders by Wednesday’s deadline. But bankers remain in uproar about the prospectus error. Many said that the deal’s sponsors put the company and its IPO at risk.

"Luckily for Sun Art this was a very hot deal ...

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Bookrunners of International Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 22,359.08 123 7.61%
2 JPMorgan 21,917.68 109 7.46%
3 HSBC 21,403.26 169 7.29%
4 Standard Chartered Bank 17,273.41 119 5.88%
5 Deutsche Bank 12,010.87 66 4.09%

Bookrunners of LatAm Emerging Market DCM

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 4,325.33 16 11.99%
2 Bank of America Merrill Lynch 4,224.27 16 11.71%
3 JPMorgan 3,818.54 15 10.59%
4 Morgan Stanley 2,844.36 8 7.89%
5 Santander 2,639.35 13 7.32%

Bookrunners of CEEMEA International Bonds

Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 JPMorgan 12,528.53 43 12.52%
2 Citi 10,614.23 37 10.61%
3 Standard Chartered Bank 9,665.29 37 9.66%
4 HSBC 6,899.03 31 6.90%
5 Deutsche Bank 5,013.13 10 5.01%

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Rank Lead Manager Amount $m No of issues Share %
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For detailed analysis: Dealogic
  • Last updated
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1 JPMorgan 195.08 50 10.55%
2 Goldman Sachs 162.26 37 8.77%
3 Morgan Stanley 141.22 46 7.64%
4 Bank of America Merrill Lynch 114.20 33 6.18%
5 Citi 95.36 35 5.16%

Bookrunners of Central and Eastern Europe: Loans

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  • Last updated
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1 Citi 857.45 5 12.87%
2 MUFG 848.66 4 12.74%
3 Industrial & Commercial Bank of China - ICBC 742.79 3 11.15%
4 JPMorgan 369.88 4 5.55%
5 SG Corporate & Investment Banking 293.72 4 4.41%

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1 Standard Chartered Bank 1,783.30 14 17.16%
2 HSBC 1,191.32 13 11.46%
3 JPMorgan 1,015.66 11 9.77%
4 Citi 941.15 11 9.06%
5 Barclays 802.96 10 7.73%