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FACTBOX-Goldman leads AsiaPac ECM deals; Citi only global bank among top fee earners
September 29, 2017 / 6:09 AM / in 24 days

FACTBOX-Goldman leads AsiaPac ECM deals; Citi only global bank among top fee earners

    By Elzio Barreto
    HONG KONG, Sept 29 (Reuters) - Asia-Pacific equity capital
markets (ECM) activity fell 13.9 percent in the first nine
months of 2017, as a slump in the sale of existing shares more
than offset big gains in IPOs in mainland China exchanges,
preliminary Thomson Reuters data showed.
    Share offerings in the region's stock exchanges dropped to
$136 billion, with follow-on share sales tumbling 25.6 percent,
while initial public offerings rose 18.7 percent, according to
data through Sept 27.
    Goldman Sachs was the top underwriter based on the
value of deals it advised, followed by Citigroup and CITIC
Securities.
    Citigroup was the only international financial firm on a
ranking based on the estimated fees earned on equity deals, with
Chinese securities firms taking nine of the top 10 spots. This
underscores the profitability of share offerings in Shenzhen and
Shanghai, where global firms have so far failed to make
significant inroads.    
    Following is a list of the region's top ECM underwriters in
the first nine months of 2017 and the estimated fees earned on
equity deals:
 
 Bank                     Deal Volume  Change vs   Rank  Rank 9M
                          (in $mln)    9M 2016           2016
                                                                
 Goldman Sachs                  7,504    46.6 pct     1        4
 Citigroup                      5,685    19.5 pct     2        9
 CITIC                          5,598   -45.0 pct     3        1
 Morgan Stanley                 5,376    -9.5 pct     4        2
 UBS                            4,932   -10.6 pct     5        3
 Guotai Junan Securities        4,883    -1.9 pct     6        7
 China Securities Co            4,021   -21.0 pct     7        6
 CICC                           3,871   -19.9 pct     8        8
 Haitong Securities             3,363   -34.0 pct     9        5
 GF Securities                  3,260   -21.5 pct    10       12
                                                                
 INDUSTRY TOTAL               136,023   -13.9 pct               
 Source: Thomson Reuters
    
 Bank                          9M 2017 fees  Change from
                                  (in $mln)      9M 2016
                                                        
 CITIC                                262.5     32.3 pct
 GF Securities                        178.4     40.8 pct
 Haitong Securities                   168.8     78.0 pct
 Guotai Junan Securities              148.1     29.8 pct
 Citigroup                            143.8     46.8 pct
 Huatai Securities                    140.7    113.3 pct
 China Merchants Securities           140.2     78.7 pct
 Guosen Securities                    138.7     58.6 pct
 China Securities Co                  130.0      2.4 pct
 Essence Securities                   126.8     26.2 pct
                                                        
 INDUSTRY TOTAL                     4,392.5     24.0 pct
 Source: Thomson Reuters

 (Reporting by Elzio Barreto; Editing by Muralikumar
Anantharaman)
  

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