Little need for HKEx dual class proposal, bankers say

Just one week before Alibaba is due to open books for its jumbo New York IPO, the Hong Kong Exchange has launched a concept paper on whether it should allow dual class shareholdings. But with very few issuers demanding this structure, bankers reckon that even if it brings in new rules, it is unlikely to change the dynamic of the market.

  • By Lorraine Cushnie, Rashmi Kumar
  • 04 Sep 2014
Tech giant Alibaba’s decision to list in the US — even though it had made public its desire to list in Hong Kong — brought a heap of criticism onto the HKEx for its decision to stick by its one share, one vote policy. The exchange has always ...

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Panda Bonds Top Arrangers

Rank Arranger Share % by Volume
1 Industrial and Commercial Bank of China (ICBC) 35.00
2 China CITIC Bank Corp 30.00
3 China Merchants Securities Co 17.00
4 HSBC 5.00
4 Standard Chartered Bank 5.00

Bookrunners of Asia-Pac (ex-Japan) ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 5,061.71 11 11.44%
2 Huatai Securities Co Ltd 3,404.45 12 7.70%
3 Citi 2,574.12 16 5.82%
4 UBS 2,555.84 13 5.78%
5 CITIC Securities 2,314.61 9 5.23%

Bookrunners of Asia Pacific (ex-Japan) G3 DCM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 HSBC 3,946.69 35 6.95%
2 Goldman Sachs 3,534.62 11 6.22%
3 Citi 3,319.98 22 5.85%
4 JPMorgan 3,233.64 13 5.69%
5 Morgan Stanley 2,925.35 19 5.15%

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    In the second instalment of our 2017 awards, we present the full write-ups of the winners for Best Follow-On/Accelerated Bookbuild, Best Equity-Linked Deal, Best IPO, Best ECM Deal and Best ECM House.

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    Over the last two months, GlobalCapital Asia's team has conducted pitch meetings with banks to decide the most impressive capital markets transactions and advisers in Asia in 2017.