• ECM market open for M&A financing

    Investors have given a rapturous reception for companies raising equity capital to undertake mergers and acquisitions, given the quiet elsewhere in ECM.

    • 14 Feb 2019
  • Mitsubishi launches trade to sell out of Standard Life Aberdeen

    Mitsubishi UFJ Trust has launched a £371m block trade to sell its remaining stake in UK financial services firm Standard Life Aberdeen, with the deal covered in under half an hour.

    • 14 Feb 2019
  • ECM issuers not ready to test market

    Potential sellers in the EMEA equity capital markets are still waiting for an improvement in market conditions before launching trades, with little activity outside of primary capital raises taking place across Europe.

    • 13 Feb 2019
  • Ramsay Générale de Santé announces rights offer

    Ramsay Générale de Santé, the French private hospitals operator, is preparing to raise €620m of equity capital to refinance bonds issued to acquire Capio in Sweden.

    • 12 Feb 2019
  • Investors back UK firm’s M&A play in equity raise

    GB Group, the UK-based data intelligence firm, won strong approval from investors for its strategic acquisition of IDology, a US company that provides ID verification and fraud detection services.

    • 12 Feb 2019
  • Disappointing earnings could lead to more ECM issuance

    Earnings growth in Europe appears to be slowing with a number of corporates missing estimates as they report their latest numbers — increasing the chance that issuers will need to turn to equity markets to raise primary capital.

    • 11 Feb 2019
  • Tritax Big Box Reit raises £250m for acquisition

    Tritax Big Box Reit, the UK real estate investment trust focused on ‘Big Box’ warehouse assets, has completed its tenth capital increase since its IPO on the London Stock Exchange in December 2013.

    • 11 Feb 2019
  • Symrise provides much needed supply with €400m M&A financing

    Shares in Symrise, the German supplier of food flavouring and fragrances, rose as much as 2.1% on Friday morning after the company completed a €400m capital increase to finance its acquisition of International Dehydrated Foods in the US.

    • 08 Feb 2019
  • Russia aims to strengthen domestic capital markets

    Russian president Vladimir Putin’s suggestion that he will extend the country’s capital amnesty by a year is good news for the country’s capital markets and a step forward in making the country less dependent on international, and primarily western, investors.

    • 07 Feb 2019
  • Barren blocks market frustrates ECM bankers

    European equity markets may have rallied since the start of the year but that is not translating into more equity block trades in the region. Low risk appetite among investors and reluctance among sellers to launch trades at wider discounts are to blame, writes Aidan Gregory.

    • 07 Feb 2019
  • Dia’s top shareholder offers new equity, but risks remain for bondholders

    LetterOne, the largest shareholder in troubled Spanish retailer Dia (Distribuidora Internacional de Alimentación), has unveiled a tender for the group’s shares, along with a plan to inject €500m of equity, as an alternative to the existing management plan for the group. The share price bounced on the news, but bondholders need more clarity about LetterOne’s intentions — and about what will happen to the firm’s €1.3bn of trade payables.

    • 06 Feb 2019
  • Investor IPO sentiment to face March test

    The quiet IPO market of the first two months of 2019 could turn out to be the calm before a storm, with sell side institutions eager to begin printing deals.

    • 06 Feb 2019
  • UK plc suffers but Brexit outcome could give boost

    Capital market sentiment in the UK has weakened as the country awaits the detail of its scheduled departure from the EU, if a couple of indicators published this week are anything to go by. However, even a bad Brexit could be welcomed by corporate financiers.

    • 06 Feb 2019
  • Brexit to hobble UK ECM this year

    The UK’s equity capital markets are facing a difficult year, as companies hold off from share sales due to the uncertainty surrounding the UK’s impending departure from the European Union. The German-speaking region is therefore likely to be the dominant fee pool in Europe this year, while emerging markets will become a still more important source of IPOs on the London Stock Exchange. But Brexit angst is chilling markets even beyond the UK.

    • 05 Feb 2019
  • EMEA blocks stay above water as Deutsche Wohnen bounces

    Deutsche Wohnen, the German property company, is trading up over 3% from the offer price of an accelerated share sale by Vonovia on Thursday night, with the whole EMEA blocks market up for the year so far.

    • 04 Feb 2019


Recent highlights

  • UK’s greatest loss from Brexit could be its reputation

    Whatever the resolution of the UK’s attempts to leave the European Union, it will likely take a long time for it to repair its reputation among investors.

    • 29 Jan 2019
  • Shares in Norwegian nosedive after rights issue announcement

    Shares in Norwegian Air Shuttle, the Norwegian budget airline, fell 25% on Tuesday after the company announced an Nkr3bn (€308m) rights offer to avoid breaking its financial covenants following widening losses and an abandoned takeover attempt by IAG.

    • 29 Jan 2019
  • US IPO issuers pin hope on SEC speed, as shutdown ends

    A surprise deal to fund the US government for three weeks, announced last Friday, has given hope to IPO potentials that there will be progress for the large backlog of new listings waiting for the regulator to comment on their filings.

    • 28 Jan 2019


Deals in the pipeline

Completed deals

Capital markets data from GlobalCapital


Go to GlobalCapital's Equity data pages for our daily updated EMEA IPO pipeline, as well as revenue and bookrunner league tables for equity capital markets around the world.


Equity people & markets

  • UK plc suffers but Brexit outcome could give boost

    Capital market sentiment in the UK has weakened as the country awaits the detail of its scheduled departure from the EU, if a couple of indicators published this week are anything to go by. However, even a bad Brexit could be welcomed by corporate financiers.

    • 06 Feb 2019
  • Former Newton fund manager fined for IPO price collusion

    The UK Financial Conduct Authority has fined a former fund manager for attempting to influence pricing during an IPO and share placing in 2015.

    • 05 Feb 2019
  • Sebi takes steps to boost appeal of Reits, InvITs

    In a bid to attract more investors to infrastructure investment trusts (InvITs) and real estate investment trusts (Reits), India’s market regulator has proposed slashing the lot size for trading these assets.

    • 31 Jan 2019
  • CSRC unveils rules for new Shanghai tech board

    China’s securities regulator has published draft regulations for the Shanghai Stock Exchange’s new technology board, giving the market a first look at how the much-anticipated listing venue will function.

    • 31 Jan 2019
  • Ex-StanChart banker joins UK development finance firm

    CDC, a development financial institution, has hired a former regional head of global banking at Standard Chartered to mobilise investment in developing countries.

    • 28 Jan 2019
  • Orcel mess leaves gaps at the top of European banking

    The path from M&A rainmaker to CEO is a perilous one, as John Cryan and Andrea Orcel have proved. Will Christian Meissner be the next senior banker to try it, asks David Rothnie.

    • 24 Jan 2019

more people & markets


equity news archive



Bookrunners of Global ECM

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Morgan Stanley 2,839.13 24 7.60%
2 Goldman Sachs 2,443.23 17 6.54%
3 Citi 2,339.70 23 6.26%
4 JPMorgan 2,336.66 25 6.25%
5 UBS 2,125.74 11 5.69%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UBS 998.25 3 13.49%
2 Citi 693.55 2 9.37%
3 Morgan Stanley 572.72 3 7.74%
4 Bank of America Merrill Lynch 509.34 3 6.88%
5 Jefferies LLC 409.89 4 5.54%

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 58,137.72 186 8.23%
2 JPMorgan 57,032.77 202 8.08%
3 Barclays 49,551.65 159 7.02%
4 Bank of America Merrill Lynch 42,095.04 147 5.96%
5 Deutsche Bank 38,217.89 137 5.41%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Bank of America Merrill Lynch 6,045.16 4 18.58%
2 BNP Paribas 1,742.18 7 5.36%
3 Credit Agricole CIB 1,539.94 8 4.73%
4 MUFG 1,257.24 4 3.87%
5 SG Corporate & Investment Banking 1,165.08 6 3.58%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UBS 998.25 3 13.49%
2 Citi 693.55 2 9.37%
3 Morgan Stanley 572.72 3 7.74%
4 Bank of America Merrill Lynch 509.34 3 6.88%
5 Jefferies LLC 409.89 4 5.54%