As per the data revealed by Refinitiv, CITIC securities, one of the top Chinese brokerage firms, will top the Asia Pacific’s Equity Capital Markets Ranking beating last year topper Goldman Sachs. This Asia Pacific ranking though excludes Japanese firms.
The top ranker is selected based on several deals cracked by it, in the current year irrespective of its seniority and banks with more deals are given more credits to move higher in ranks.
Interestingly, last year, CITIC Securities stood seventh in this ranking. This year it has beaten Goldman Sachs, which was first in this ranking last year. Western major banks like Goldman Sachs, Morgan Stanley, Citi, UBS vouches for top ranking in this list.
As per the data, CITIC Securities tops the listing; second comes China International Capital Corporation Ltd., and Goldman Sachs falls on the third position with UBS on fourth and Morgan Stanly on fifth.
|ECM Ranking: 2019||Amount in Billion||No. of Issues||% Shares|
|1. CITIC Securities||16.91||86||6.96|
|2. China International Capital Corp. Ltd.||16.67||78||6.86|
|3. Goldman Sachs||15.91||71||6.54|
|5. Morgan Stanly||14.27||76||5.87|
A senior ECM bank official from Global bank said, “China has always been a big part of the whole Asia Pacific issuance. Next year is going to be similar to this year.”
He further added that the 2018 year saw inclination towards IPOs. This year there is a balance between IPOs and equity-linked deals. In terms of Product, next year will again see a balance.
Observing the Overall position of Asia Pacific markets, including Japan,
- Shares dwindled at 4%, which is $130.2 billion
- Convertible bond sales improved this year to 44%, summing up at 52.9 billion
- ECM volumes have dropped this year to 11% summing up at $251.2 billion
CITIC did the greatest deal for its subsidiary China CITIC Bank this year. It dealt with Shanghai Pudong Development Bank for 7.1 billion convertible Bond sales and $ 5.9 billion convertible Bond deal, including the deals with UBS and Goldman Sachs China division.
The news has not been confirmed yet by official sources from CITIC securities and Goldman Sachs, though.