Companies domiciled in Asia-Pacific, outside of Japan, hold the global top spot for initial public offerings (IPOs) in 2011, with proceeds from companies across the region amounting to USD80.33 billion from 629 deals, or 49.7 percent of the total global IPO. The figure, though, is way below last year’s level as it plunged 51.5 percent from USD165.52 billion involving 777 deals.
Figures released by Thomson Reuters on December 22 show the IPOs from North Asia sub-region - China, Hong Kong, Taiwan and South Korea – accounted for 89.1 percent of the total or USD71.6 billion.
Apart from IPOs, the other types of equity capital market (ECM) issuances were down this year with proceeds from follow-on offerings plummeting 35.4 percent from USD146.25 billion in 2010 to USD94.44 billion, while proceeds from convertibles dropped 9.2 percent from USD22.18 billion to USD20.15 billion during the same period.
Overall, the total Asia-Pacific ex-Japan equity capital markets volume of USD194.92 billion from 1,618 deals in 2011 is the third highest level of ECM activity in the region since 2007. The top sectors issuing equity in Asia are financials, industrials, materials, and energy and power.
The top five ECM deals in 2011 are for Hutchison Port Holdings valued at USD5.45 billion, China Citic Bank USD3.99 billion, Sinopec Corporation USD3.50 billion, Hebei Iron & Steel USD2.52 billion and Bank of China USD2.42 billion.
For the first time since 2004, Goldman Sachs overtakes UBS for the top spot for equity raisings in Asia, with proceeds of USD14.9 billion from 45 deals for a 7.7 percent market share. UBS came next with proceeds of USD12.03 billion from 78 deals (6.2 percent), followed by Morgan Stanley with USD11.25 billion from 52 deals (5.8 percent).
In terms of just IPOs, Deutsche Bank topped the league table with total proceeds of USD5.12 billion from 18 deals for a 6.9 percent market share, followed by Ping an Securities with USD4.47 billion from 33 deals (6.2 percent) and Goldman Sachs with USD4.27 billion from 12 deals (5.3 percent).
