ECM listing in Asia Pacific drops 2 percent in first half of 2014

The lowest first half period since 2012.

Proceeds from equity and equity-linked transactions listed in Asia Pacific totaled US$87.5 billion in the first half of 2014, a 2 percent drop from the first half of 2013 (US$89.3 billion), the lowest first half period since 2012 when proceeds feel to US$82.7 billion.

According to the Asia Pacific M&A Preliminary Review for First Half of 2014 by Thomson Reuters, ECM listings in Asia Pacific for the first half of the year also saw a 6.8 percent decline from the second half of 2013 (US$93.9 billion).

The report noted, though, that proceeds from initial public offerings (IPO) in Asia Pacific stock exchanges surged to US$24.3 billion, a 65.3% increase in proceeds from the first half of 2013 (US$14.7 billion) alongside a 48.5% growth in number of IPOs.

It said that this is the highest first half period since 2011 when IPO proceeds amounted to US$52.2 billion.

Here's more from Thomson Reuters:

Private Equity exits through IPO reached US$7.7 billion in Asia Pacific, up twelve-times from the first half of 2013, driven by Spotless Group Holdings' IPO raising US$919.6 million in proceeds after the company was taken private in 2012 by Australia’s private equity firm, Pacific Equity Partners.

The Hong Kong Stock Exchange (HKSE) captured 37.9% of this year’s initial public offerings in Asia Pacific with US$9.2 billion worth of proceeds, an 82.9% growth compared to first half of 2013 (US$5.0 billion).

This was driven by the US$3.1 billion IPO of HK Electric Investments Ltd, the largest IPO deal this year in Asia Pacific.

Globally, HKSE ranked fourth in terms of IPO proceeds and captured 8.8% of the market share. New York took the lead with US$19.6 billion, up 16.2% from the first half of 2013 and captured 18.7% of the IPO proceeds worldwide.