Hong Kong’s equity capital markets plummet 27% to US$37.6b in 2011
Morgan Stanley is the top bookrunner in Hong Kong, with total proceeds of US$7.2 b so far, increading its market share by 6%.
According to Thomson Reuters’ report, the financials sector’s total issuance dropped 44% to US$12.7b this year.
Here’s more from Thomson Retuers:
| Hong Kong’s equity capital markets generated US$37.6 billion of proceeds so far this year from 225 deals, down 27% from the close of Q3 last year attributable to the global market conditions and several postponed offerings. HONG KONG ECM BY ISSUE TYPE This week’s CITIC Securities’ IPO marks the latest in the slew of equity raised from the Financials sector, registering total issuance of US$12.7 billion year to date from 47 deals, a decrease of 44% year-over-year. Morgan Stanley is the Top Bookrunner for equity issues in Hong Kong, underwriting proceeds of US$7.2 billion so far, an increase in market share of 6% and unseating Goldman Sachs from last year’s top spot in Q3. Chinese companies that typically dominate the HK equity market have showed signs of decline this quarter; China company IPOs in Hong Kong fell from US$16.3 billion in Q32010 to the current total US$8.0 billion. Non-Chinese company IPOs issues in Hong Kong grew 120% to reach US$8.6 billion so far this year, as issuers seek comparative liquidity in Asia. |
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