IPOs
UK ECM issuance revs up as Boris rejoices
There were audible sighs of relief on equity capital markets desks on Friday morning as Boris Johnson delivered a hefty Conservative majority in the UK general election.
13 Dec 2019
Equity
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SSA
Big Boris victory to fire up capital markets
Capital markets are set for a surge of adrenalin on Friday after Boris Johnson’s Conservative Party secured a thumping majority in the UK’s general election, removing a huge weight of uncertainty about Brexit.
13 Dec 2019 -
IPOs
Liquidity fears allayed as Aramco finds 'natural' trading groove
Sources close to Saudi Aramco breathed a sigh of relief on Thursday, when trading in its shares accelerated, after a very slow and stuttering start the previous day.
12 Dec 2019 -
ABBs/Block Trades
Banks push through last blocks of 2019
Banks are pushing out the last of this year’s equity block trades and there could even be room for more supply next week, if the UK general election delivers a market friendly result.
12 Dec 2019
Other news
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Banks push through last blocks of 2019
Banks are pushing out the last of this year’s equity block trades and there could even be room for more supply next week, if the UK general election delivers a market friendly result.
12 Dec 2019 -
Poor liquidity hurts Sanlorenzo’s €194m IPO
Italian superyacht maker Sanlorenzo was buoyant in trading on Tuesday after the company made its debut on the Borsa Italiana.
12 Dec 2019 -
Local retail selling to local funds pushes illiquid Aramco up 10%
Saudi Aramco stock rose 10% on its first day of trading on the Saudi stock exchange on Wednesday, after its historic $25.6bn IPO last week.
11 Dec 2019 -
US tariff deadline could spoil Christmas for ECM
Equity markets, particularly European ones, are largely focusing on the UK election as the last opportunity for pre-Christmas volatility.
10 Dec 2019 -
Equity investors positioned for Tory majority
After weeks of equity inflows, investors are primed for a rally in UK equities following this Thursday’s general election.
10 Dec 2019 -
Fund investors back London’s green revolution at year end
ESG funds listed on the London Stock Exchange have had substantial investor interest through December, capping off a particularly green year for the market.
10 Dec 2019
Data
Bookrunners of Global ECM
| Rank | Lead Manager | Amount $bn | No of issues | Share % |
|---|---|---|---|---|
| 1 | Goldman Sachs | 66.29 | 372 | 9.44% |
| 2 | Morgan Stanley | 60.77 | 357 | 8.65% |
| 3 | JPMorgan | 53.10 | 408 | 7.56% |
| 4 | Citi | 43.66 | 328 | 6.21% |
| 5 | Bank of America Merrill Lynch | 39.77 | 280 | 5.66% |
IPOs
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UK ECM issuance revs up as Boris rejoices
There were audible sighs of relief on equity capital markets desks on Friday morning as Boris Johnson delivered a hefty Conservative majority in the UK general election. Bankers are now prepping for a busy 2020 and a solid UK issuance calendar. A state block trade of Royal Bank of Scotland shares is among the most anticipated chunks of business for next year.
13 Dec 2019 -
OneConnect pockets $312m from smaller US IPO
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Demergers and direct listings in focus as alternative to difficult IPOs
ABBs/block trades
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UK ECM issuance revs up as Boris rejoices
There were audible sighs of relief on equity capital markets desks on Friday morning as Boris Johnson delivered a hefty Conservative majority in the UK general election. Bankers are now prepping for a busy 2020 and a solid UK issuance calendar. A state block trade of Royal Bank of Scotland shares is among the most anticipated chunks of business for next year.
13 Dec 2019 -
Prospects grow for a brighter year for Russian ECM
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Banks push through last blocks of 2019
Equity-linked
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Convertibles start rolling again as share prices soar
Europe’s convertible bond market enjoyed a modest recovery in 2019, even though interest rates stayed low, reducing the market’s appeal as a cheap funding source. Going into 2020, there is cautious optimism that the revival will continue, helped by issuers monetising stakes in other companies. As Aidan Gregory reports, the asset class should attract investors worried about an economic downturn
13 Dec 2019 -
YuHua Education rolls over debut CB with HK$2bn issue
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YuHua Education prints $259m CB to fund buyback
Follow-ons/rights issues
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Investors get behind primary capital raising technique
Europe’s equity capital markets bankers are looking at 2020 with an eye on jumbo equity capital raisings to fund merger and acquisition activity, building on the momentum behind such trades in 2019
13 Dec 2019 -
Schmolz + Bickenbach begins emergency recapitalisation
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Fund investors back London’s green revolution at year end
Asia
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OneConnect pockets $312m from smaller US IPO
Ping An Group subsidiary OneConnect Financial Technology has raised $312m from a listing of American Depository Shares (ADS) after trimming and then increasing its IPO.
13 Dec 2019 -
Investors return to HK stocks as low valuations boost appeal
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Ping An’s OneConnect chops US IPO proceeds in half
