GLOBAL EQUITY CAPITAL MARKET

Transcription

1 GLOBAL EQUITY CAPITAL MARKET LEAGUE TABLES Q1 217

2 Q1 217 MANAGER RANKINGS GLOBAL EQUITY, EQUITY LINKED & RIGHTS CONTENTS 1. Global market review 2. US market review 3. Canada market review 4. Latin America market review 5. EMEA market review 6. Asia market review 7. Table criteria Bloomberg s global equity offerings database consists of nearly 87, deals (with approximately 43, IPOs and over 43, additional offerings), and coverage of more than 5 financial advisors and 5 legal advisors. LEAG<GO> for a full range of league tables IPO<GO> for Bloomberg s equity offerings product Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service. DATA SUBMISSIONS AND QUERIES Contact Phone North America Irina Arefyeva calendar@bloomberg.net EMEA Asia Pacific Karan Aswani Billy Sun calendar@bloomberg.net calendar@bloomberg.net 217 Bloomberg Finance L.P. All rights reserved.

3 Global Equity Review Q1 217 credited Global Equity, Equity Linked & Rights volume increased 65.4% to USD Bln while deal count increased 62.8% to 1,138 offerings year-on-year. Global Equity IPO volume increased % year-on-year to USD 35.7 Bln while the deal count increased 94.65% to 364. Global Equity Linked volume increased 8.87% year-on-year to USD 29.1 Bln over 92 deals. JP Morgan ranked as the top Global Equity, Equity Linked & Rights underwriter for Q1 217 with 9.22% market share. The bank underwrote 1 deals over the period. Goldman Sachs and Bank of America Merrill Lynch ranked second and third with 8.67% and 6.74% market share, respectively. Global Equity, Equity Linked & Rights: Highlights of Q1 217 Top Underwriter JP Morgan Number of deals 1 Volume (USD Mln) 16,199 Avg Deal size (USD Mln) 162. Market Summary Number of deals 1,138 Volume (USD Mln) 175,658 Avg Deal size (USD Mln) Issuer Industry Volume (USD Mln) Date UniCredit SpA Financials 13,737 2/23/217 China Everbright Bank Co Ltd Financials 4,348 3/15/217 Electricite de France SA Utilities 4,343 3/21/217 Snap Inc Communications 3,91 3/1/217 Volcan Holdings PLC Financials 2,439 3/15/217 Cenovus Energy Inc Energy 2,244 3/29/217 Equinix Inc Financials 2,185 3/8/217 Williams Cos Inc/The Energy 2,168 1/9/217 Microchip Technology Inc Technology 2,7 2/1/217 AltaGas Ltd Energy 2,5 1/25/217 Global Equity, Equity Linked & Rights: Quarterly Volume Deal Count Rights Equity-Linked IPO Global Equity, Equity Linked & Rights: Industry Breakdown 4% 5% 5% 5% 36% 7% 8% 8% 11% 11% Financials 36% Consumer Discretionary 11% Energy 11% Materials 8% Technology 8% Industrials 7% Communications 5% Utilities 5% Health Care 5% Others 4% Global Equity, Equity Linked & Rights: Industry Breakdown Industry Volume (USD Mln) % Of Total % YOY Change Financials 71, % 152.% Consumer Discretionary 21, % 114.1% Energy 2, % -19.% Materials 15, % 41.1% Technology 14, % -8.3% Industrials 14,12 7.1% 59.7% Communications 1, % 4.1% Utilities 1, % 178.3% Health Care 1,45 5.1% -23.8% Consumer Staples 8,3 4.1% 29.5% Add'l 3 1,8 25 1,5 Global Equity, Equity Linked & Rights: Offering Breakdown USD Bln , 5 Deal Count Offering Type Volume (USD Mln) % Of Total % YOY Change Additional Offerings 92, % 38.1% IPO 38, % 162.3% Equity-Linked 32, %.6% Rights Offerings 32, % 98.5% 5 Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Quarters Bloomberg League Table Reports Page 1

4 Global Equity, Equity Linked & Rights Global Equity & Equity Linked JP Morgan , Goldman Sachs , Bank of America Merrill Lynch , Citi , Morgan Stanley , Deutsche Bank , UBS , Barclays , Credit Suisse , RBC Capital Markets , Wells Fargo , BMO Capital Markets , Sumitomo Mitsui Financial , BNP Paribas , Nomura , Societe Generale , Mizuho Financial , HSBC , Jefferies , Credit Agricole CIB , TOTAL 1% 175,658 1,138 1% Global Equity Offerings Goldman Sachs , JP Morgan , Citi , Bank of America Merrill Lynch , Morgan Stanley , Deutsche Bank , UBS , Barclays , Credit Suisse , RBC Capital Markets , Wells Fargo , Sumitomo Mitsui Financial , BMO Capital Markets , Mizuho Financial , Jefferies , Nomura , TD Securities , Cantor Fitzgerald , Joh Berenberg Gossler & Co KG , BNP Paribas TOTAL 1% 126, % JP Morgan , Goldman Sachs , Citi , Bank of America Merrill Lynch , Morgan Stanley , Deutsche Bank , UBS , Barclays , Credit Suisse , RBC Capital Markets , Wells Fargo , BMO Capital Markets , Sumitomo Mitsui Financial , Nomura , Mizuho Financial , Jefferies , CITIC Securities Co Ltd , BNP Paribas , China International Capital Corp , Societe Generale , TOTAL 1% 155,678 1,82 1% Global Equity IPO JP Morgan , Goldman Sachs , Deutsche Bank , Credit Suisse , Morgan Stanley , Citi , Barclays , GF Securities Haitong Securities Co Ltd Bank of America Merrill Lynch China Securities Co Ltd China International Capital Corp CITIC Securities Co Ltd RBC Capital Markets Nomura Allen & Co Banco Santander Guotai Junan Securities Co Ltd Sinolink Securities Co Ltd Cantor Fitzgerald TOTAL 1% 35, % Bloomberg League Table Reports Page 2

5 Global Equity Linked JP Morgan , Goldman Sachs , Morgan Stanley , Bank of America Merrill Lynch , Deutsche Bank , UBS , Nomura , Wells Fargo , Citi Credit Suisse Mizuho Financial Everbright Securities Co China International Capital Corp CITIC Securities Co Ltd BMO Capital Markets Barclays HSBC BNP Paribas Societe Generale Credit Agricole CIB TOTAL 1% 29,7 92 1% Bloomberg League Table Reports Page 3

6 Americas Capital Markets Q1 217 US Equity Review Q1 217 credited US Equity & Equity Linked volume increased 74.44% to USD 64.7 Bln while deal count increased 19.84% to 256 offerings year-on-year. US Equity IPO volume increased 1,89.34% year-on-year to USD 12.7 Bln while the deal count increased 2.% to 3. US Equity Linked volume increased % year-on-year to USD 11.7 Bln over 32 deals. JP Morgan ranked as the top US Equity & Equity Linked underwriter for Q1 217 with 1.9% market share. The bank underwrote 66 deals over the period. Goldman Sachs and Bank of America Merrill Lynch ranked second and third with 1.89% and 1.15% market share, respectively. US Equity & Equity Linked: Industry Breakdown 9% 7% 34% 9% 1% 14% 17% Financials 34% Energy 17% Technology 14% Consumer Discretionary 1% Communications 9% Health Care 7% Others 9% Top Underwriter JP Morgan Number of deals 66 Volume (USD Mln) 7,51 Avg Deal size (USD Mln) 16.8 Market Summary Number of deals 256 Volume (USD Mln) 64,667 Avg Deal size (USD Mln) US Equity & Equity Linked: Highlights of Q1 217 Issuer Industry Volume (USD Mln) Date Snap Inc Communications 3,91 3/1/217 Equinix Inc Financials 2,185 3/8/217 Williams Cos Inc/The Energy 2,168 1/9/217 Microchip Technology Inc Technology 2,7 2/1/217 Invitation Homes Inc Financials 1,771 1/31/217 Athene Holding Ltd Financials 1,534 3/28/217 Plains GP Holdings LP Energy 1,497 2/23/217 Parsley Energy Inc Energy 1,283 2/7/217 US Foods Holding Corp Consumer Staples 1,76 1/25/217 Silver Run Acquisition Corp II Financials 1,35 3/23/217 US Equity & Equity Linked: Quarterly Volume US Equity & Equity Linked: Industry Breakdown Industry Volume (USD Mln) % Of Total % YOY Change Financials 23, % 213.9% Energy 11, % -3.3% Technology 9, % 32.2% Consumer Discretionary 7,18 1.1% 774.7% Communications 6,261 9.% % Health Care 4,887 7.% -49.4% Industrials 2, % % Materials 2,25 2.9% 19.6% Consumer Staples 1,91 2.8% -49.5% 1 Deal Count Equity-Linked Add'l IPO US Equity & Equity Linked: Offering Breakdown USD Bln Deal Count Offering Type Volume (USD Mln) % Of Total % YOY Change Additional Offerings 4, % 19.9% IPO 14, % 1237.% Equity-Linked 14,35 2.7% 344.2% 2 1 Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Quarters Bloomberg League Table Reports Page 1

7 US Equity & Equity Linked US Equity Offerings JP Morgan , Goldman Sachs , Bank of America Merrill Lynch , Citi , Morgan Stanley , Barclays , Credit Suisse , Wells Fargo , Deutsche Bank , RBC Capital Markets , UBS , BMO Capital Markets , Jefferies , Cantor Fitzgerald Stifel Scotiabank Robert W Baird & Co Mizuho Financial Allen & Co Raymond James & Associates TOTAL 1% 64, % US Equity IPO Deutsche Bank , Credit Suisse , JP Morgan , Goldman Sachs , Morgan Stanley , Barclays Citi Allen & Co RBC Capital Markets Bank of America Merrill Lynch Cantor Fitzgerald Wells Fargo Jefferies BMO Capital Markets Stifel Cowen & Co Macquarie Raymond James & Associates Robert W Baird & Co Evercore Partners Inc TOTAL 1% 12, % Citi , JP Morgan , Goldman Sachs , Bank of America Merrill Lynch , Barclays , Morgan Stanley , Credit Suisse , Deutsche Bank , Wells Fargo , RBC Capital Markets , UBS , Jefferies Cantor Fitzgerald BMO Capital Markets Scotiabank Robert W Baird & Co Stifel Allen & Co Raymond James & Associates Cowen & Co TOTAL 1% 52, % US Equity Linked Goldman Sachs , Bank of America Merrill Lynch , JP Morgan , Wells Fargo , Morgan Stanley Barclays BMO Capital Markets Credit Suisse HSBC US Bancorp Citi Jefferies Deutsche Bank Mizuho Financial RBC Capital Markets Nomura SunTrust Robinson Humphrey JMP Group LLC Stifel UBS TOTAL 1% 11, % Bloomberg League Table Reports Page 5

8 Canada Equity Review Q1 217 credited Canada Equity, Equity Linked & Preferred volume decreased 12.34% to CAD 14.3 Bln while deal count increased % to 147 offerings year-on-year. Canada Equity IPO volume increased 11,346.2% year-on-year to CAD Mln while the deal count increased 16.% to 13. Canada Equity Offerings volume decreased 7.28% year-on-year to CAD 13. Bln over 137 deals. RBC Capital Markets ranked as the top Canada Equity, Equity Linked & Preferred underwriter for Q1 217 with 24.67% market share. The bank underwrote 18 deals over the period. JP Morgan and BMO Capital Markets ranked second and third with 16.63% and 13.91% market share, respectively. Canada Equity, Equity Linked & Preferred: Quarterly Volume CAD Bln Q1 Q Q1 Q Q1 Q Q1 Q Deal Count Q1 Q Amount Q1 Q Deal Count Quarters Canada Equity, Equity Linked & Preferred Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets , JP Morgan , BMO Capital Markets , TD Securities , CIBC Scotiabank Canaccord Genuity GMP Securities National Bank Financial Inc Barclays TOTAL 1% 14, % Canada Equity, Equity Linked & Preferred: Industry Breakdown 5% 9% 16% 52% 18% Energy 52% Financials 18% Materials 16% Consumer Discretionary 9% Others 5% Canada Equity & Equity Linked Canada Equity, Equity Linked & Preferred: Manager Rankings History Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 3 RBC Capital Markets , JP Morgan , BMO Capital Markets , TD Securities , CIBC Canaccord Genuity Scotiabank GMP Securities Barclays Raymond James & Associates TOTAL 1% 13, % Market Share (%) 2 1 RBC Capital Markets JP Morgan BMO Capital Markets TD Securities CIBC Scotiabank Bloomberg League Table Reports Page 6

9 Canada Equity Offerings Canada Equity IPO Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets , JP Morgan , BMO Capital Markets , TD Securities , CIBC Scotiabank Canaccord Genuity GMP Securities Barclays Raymond James & Associates Cantor Fitzgerald Clarus Securities Bank of America Merrill Lynch National Bank Financial Inc Macquarie Cormark Securities Inc Leerink Partners LLC UBS Pareto Securities Mackie Research Capital Corp TOTAL 1% 12, % Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) CIBC RBC Capital Markets BMO Capital Markets TD Securities Morgan Stanley Bank of America Merrill Lynch Wells Fargo Barclays Goldman Sachs Credit Suisse Jefferies Robert W Baird & Co GMP Securities CIMB China Construction Bank Changjiang Securities Holdings HK Ltd UBS Citi National Bank Financial Inc Scotiabank TOTAL 1% % Canadian Retail Structured Products Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Scotiabank RBC Capital Markets CIBC National Bank Financial Inc BMO Capital Markets TOTAL 1% % Bloomberg League Table Reports Page 7

10 Latin America Equity Review Latin America Equity Offerings: Quarterly Volume 2 Deal Count Amount 3 Q1 217 credited Latin America Equity Offerings volume increased 1,33.7% to USD 4.1 Bln while deal count increased % to 13 offerings year-on-year. JP Morgan ranked as the top Latin America Equity Offerings underwriter for Q1 217 with 17.4% market share. The bank underwrote 7 deals over the period. Banco Santander and Banco BTG Pactual ranked second and third with 14.28% and 13.31% market share, respectively. USD Bln Deal Count Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Quarters Latin America Equity Offerings Latin America Equity Offerings: Industry Breakdown 5% Consumer Staples 41% JP Morgan Banco Santander Banco BTG Pactual Bradesco BBI SA Banco Itau BBA Banco do Brasil SA Morgan Stanley % 5% 21% 41% Industrials 22% Consumer Discretionary 21% Materials 5% Financials 5% Others 5% Bank of America Merrill Lynch GBM Casa de Bolsa % Credit Suisse TOTAL 1% 4,1 13 1% Brazil Equity Offerings Latin America Equity Offerings: Manager Rankings History Firm Rank Mkt Share(%) Volume (BRL Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) 45 4 Bradesco BBI SA , Banco Itau BBA , JP Morgan , Banco do Brasil SA , Banco BTG Pactual , Market Share (%) 2 Banco Santander , Bank of America Merrill Lynch Credit Suisse Morgan Stanley JP Morgan Banco Santander Banco BTG Pactual Bradesco BBI SA Banco Itau BBA Banco do Brasil SA TOTAL 1% 8,9 7 1% Bloomberg League Table Reports Page 8

11 EMEA Equity Review Q1 217 credited EMEA Equity, Equity Linked & Rights - Risk volume increased 93.2% to USD 56.6 Bln while deal count increased 7.27% to 252 offerings year-on-year. EMEA Equity IPO volume increased 28.1% year-on-year to USD 5.7 Bln while the deal count increased 78.26% to 41. EMEA Equity Linked - Risk volume increased 21.35% year-on-year to USD 7.9 Bln over 19 deals. JP Morgan ranked as the top EMEA Equity, Equity Linked & Rights - Risk underwriter for Q1 217 with 1.89% market share. The bank underwrote 22 deals over the period. Deutsche Bank and UBS ranked second and third with 8.17% and 7.7% market share, respectively. EMEA Equity, Equity Linked & Rights - Risk: Highlights of Q1 217 EMEA Equity, Equity Linked & Rights - Risk: Largest Deals by Country of Q1 217 Issuer Volume (USD Mln) Date Country Electricite de France SA 4,343 3/21/217 France Covestro AG 1,546 3/1/217 Germany UniCredit SpA 13,737 2/23/217 Italy Philips Lighting NV 648 2/9/217 Netherlands Raydan Co 58 2/19/217 Saudi Arabia Sea Harvest Holdings Pty Ltd 14 3/17/217 South Africa CaixaBank SA 1,147 2/6/217 Spain Lonza Group AG 87 2/1/217 Switzerland ENBD REIT CEIC Ltd 15 3/2/217 United Arab Emirates ConvaTec Group PLC 1,21 3/29/217 United Kingdom Issuer Industry Volume (USD Mln) Date UniCredit SpA Financials 13,737 2/23/217 Electricite de France SA Utilities 4,343 3/21/217 Volcan Holdings PLC Financials 2,439 3/15/217 Covestro AG Materials 1,546 3/1/217 E.ON SE Utilities 1,441 3/16/217 Banco Comercial Portugues SA Financials 1,437 2/2/217 ConvaTec Group PLC Health Care 1,21 3/29/217 Engie SA Utilities 1,24 1/11/217 CaixaBank SA Financials 1,147 2/6/217 DONG Energy A/S Utilities 941 2/3/217 EMEA Equity, Equity Linked & Rights - Risk EMEA Equity, Equity Linked & Rights - Risk: Industry Breakdown Industry Volume (USD Mln) % Of Total % YOY Change Financials 32, % 241.8% Utilities 8, % 971.3% Materials 8, % 4.9% Industrials 4,85 7.1% 65.3% Consumer Discretionary 4,69 6.8% 51.7% Health Care 3,6 5.3% 146.7% Energy 2,696 4.% -57.8% Consumer Staples 1, % -13.8% Communications 1, % -81.5% Technology % -4.1% Deal Count Rights Equity-Linked IPO Add'l 14 4 EMEA Equity, Equity Linked & Rights - Risk: Offering Breakdown 12 Offering Type Volume (USD Mln) % Of Total % YOY Change USD Bln Deal Count Rights Offerings 27, % 173.3% Additional Offerings 26, % 96.7% Equity-Linked 8, % -23.4% IPO 5, % 28.9% Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Quarters Bloomberg League Table Reports Page 9

12 EMEA Equity, Equity Linked & Rights - Risk EMEA Equity, Equity Linked & Rights - Syndication JP Morgan , Deutsche Bank , UBS , Bank of America Merrill Lynch , Goldman Sachs , Citi , Morgan Stanley , Societe Generale , BNP Paribas , Credit Suisse , Barclays , Credit Agricole CIB , Commerzbank , HSBC , Mediobanca , Joh Berenberg Gossler & Co KG , Banco Santander , Natixis Nordea Banco Bilbao Vizcaya Argentaria TOTAL 1% 56, % EMEA Equity & Equity Linked - Risk JP Morgan , UBS , Deutsche Bank , Citi , Goldman Sachs , Bank of America Merrill Lynch , Morgan Stanley , Societe Generale , BNP Paribas , Joh Berenberg Gossler & Co KG , Credit Suisse Barclays Nordea Carnegie Credit Agricole CIB Commerzbank DNB ASA Peel Hunt LLP Java Capital Numis TOTAL 1% 39, % JP Morgan , Deutsche Bank , UBS , Goldman Sachs , Bank of America Merrill Lynch , Citi , Morgan Stanley , Societe Generale , BNP Paribas , Credit Suisse , Barclays , Credit Agricole CIB , Commerzbank , HSBC , Mediobanca , Joh Berenberg Gossler & Co KG , Banco Santander , Natixis Nomura Nordea TOTAL 1% 58, % EMEA Equity & Equity Linked - Syndication JP Morgan , UBS , Goldman Sachs , Deutsche Bank , Citi , Bank of America Merrill Lynch , Morgan Stanley , Societe Generale , BNP Paribas , Joh Berenberg Gossler & Co KG , Nomura Barclays Credit Suisse Nordea Mizuho Financial Carnegie Credit Agricole CIB Commerzbank DNB ASA Peel Hunt LLP TOTAL 1% 4, % Bloomberg League Table Reports Page 1

13 EMEA Equity Linked - Risk EMEA Equity Linked - Syndication JP Morgan , Deutsche Bank , BNP Paribas Societe Generale UBS Credit Agricole CIB Goldman Sachs Citi Credit Suisse Morgan Stanley Natixis Mediobanca HSBC FirstRand Ltd Lazard Ltd Kepler Capital Markets SA Bank am Bellevue AG Swedbank Dero Bank Oddo Pinatton TOTAL 1% 7, % EMEA Equity IPO Goldman Sachs JP Morgan Citi Credit Suisse Banco Santander Zeus Capital Winterflood Securities Deutsche Bank Jefferies Peel Hunt LLP Joh Berenberg Gossler & Co KG BNP Paribas Investec JB Capital Markets HSBC Banco Bilbao Vizcaya Argentaria Danske Bank Carnegie Standard Bank of South Africa Hauck & Aufhaeuser Privatbankiers KGaA TOTAL 1% 5, % JP Morgan , Deutsche Bank , Nomura Goldman Sachs Mizuho Financial BNP Paribas Societe Generale UBS Morgan Stanley Credit Agricole CIB Citi Credit Suisse Natixis Mediobanca HSBC Daiwa Securities FirstRand Ltd Lazard Ltd Kepler Capital Markets SA Bank am Bellevue AG TOTAL 1% 1, % EMEA Equity Offerings UBS , Citi , Goldman Sachs , Bank of America Merrill Lynch , Deutsche Bank , JP Morgan , Morgan Stanley , Joh Berenberg Gossler & Co KG , Barclays Societe Generale Nordea Credit Suisse BNP Paribas Carnegie Commerzbank DNB ASA Peel Hunt LLP Java Capital Numis Banco Santander TOTAL 1% 31, % Bloomberg League Table Reports Page 11

14 EMEA Rights Offerings Western Europe Equity, Equity Linked & Rights Bank of America Merrill Lynch , Deutsche Bank , UBS , JP Morgan , BNP Paribas Mediobanca Credit Suisse Goldman Sachs Credit Agricole CIB HSBC Societe Generale Natixis Morgan Stanley Barclays Commerzbank Citi Intesa Sanpaolo Banco Bilbao Vizcaya Argentaria Banco Santander Jefferies TOTAL 1% 17, % Eastern Europe Equity, Equity Linked & Rights Firm Rank Mkt Share(%) Volume (EUR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Citi VTB Capital Deutsche Bank Barclays Sberbank CIB CJSC Renaissance Capital Holdings Ltd HSBC Morgan Stanley Credit Suisse Java Capital UBS Goldman Sachs Bank of America Merrill Lynch JP Morgan Societe Generale Banco Santander Joh Berenberg Gossler & Co KG LH Alton & Co Bank Ochrony Srodowiska SA Renaissance Capital Pty Ltd TOTAL 1% 2, % Firm Rank Mkt Share(%) Volume (EUR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan , UBS , Goldman Sachs , Bank of America Merrill Lynch , Deutsche Bank , Citi , Morgan Stanley , Societe Generale , BNP Paribas , Credit Suisse , Barclays , Credit Agricole CIB , Commerzbank , HSBC , Mediobanca , Joh Berenberg Gossler & Co KG Natixis Banco Santander Nordea Banco Bilbao Vizcaya Argentaria TOTAL 1% 49, % AIM Equity Offerings Firm Rank Mkt Share(%) Volume (GBP Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Intesa Sanpaolo Numis Cenkos Securities Zeus Capital Nplus1 Singer Ltd Liberum Capital Ltd Panmure Gordon FinnCap Investec Peel Hunt LLP WH Ireland Ltd Mirabaud Securities Smith & Williamson Allenby Capital Ltd Shore Capital Group Ltd Cantor Fitzgerald Beaufort Securities Ltd Turner Pope Investments Ltd Cornhill Asset Management LTD Brandon Hill Capital Ltd TOTAL 1% % Bloomberg League Table Reports Page 12

15 Africa Equity, Equity Linked & Rights Sub-Sahara Equity, Equity Linked & Rights Java Capital Standard Bank of South Africa Morgan Stanley FirstRand Ltd Macquarie PSG Group Ltd Barak Capital Dyer & Blair Investment Bank Citi TOTAL 1% % Java Capital Standard Bank of South Africa Morgan Stanley FirstRand Ltd Macquarie PSG Group Ltd Barak Capital Dyer & Blair Investment Bank Citi TOTAL 1% % MENA Equity, Equity Linked & Rights Saudi Investment Bank/The EFG-Hermes Emirates NBD PJSC ABG Sundal Collier Asa FALCOM Financial Services/Saudi Arabia KASB Bank Ltd TOTAL 1% % Bloomberg League Table Reports Page 13

16 Asia Pacific Equity Review Asia ex-japan Equity, Equity Linked & Rights Deal Count Rights IPO Add'l Q1 217 credited APAC ex-japan Equity, Equity Linked & Rights volume increased 33.83% to USD 29.5 Bln while deal count increased 41.59% to 463 offerings year-on-year. APAC ex-japan Equity IPO volume increased 71.27% year-on-year to USD 13.2 Bln while the deal count increased 98.36% to 242. APAC ex-japan Equity Linked volume increased 7.57% yearon-year to USD 5.4 Bln over 27 deals. Goldman Sachs ranked as the top APAC ex-japan Equity, Equity Linked & Rights underwriter for Q1 217 with 1.7% market share. The bank underwrote 7 deals over the period. CITIC Securities Co Ltd and Citi ranked second and third with 5.31% and 5.23% market share, respectively. USD Bln 8 5 Q1 Q Q1 Q Q1 Q Quarters Q1 Q Q1 Q Q1 Q Deal Count APAC Equity, Equity Linked & Rights: Highlights of Q1 217 Australia/New Zealand Equity, EQL & Rights Deal Count Rights IPO Issuer Industry Volume (USD Mln) Date Add'l China Everbright Bank Co Ltd Financials 4,348 3/15/ BDO Unibank Inc Financials 1,27 1/31/217 HKT Trust & HKT Ltd Communications 1,1 2/13/217 ITC Ltd Consumer Staples 993 2/7/217 Fujitsu Ltd Technology 96 2/8/217 Mitsubishi Chemical Holdings Corp Materials 654 3/14/217 Kyushu Electric Power Co Inc Utilities 654 3/14/217 Mitsubishi Chemical Holdings Corp Materials 654 3/14/217 Kyushu Electric Power Co Inc Utilities 654 3/14/217 Sushiro Global Holdings Ltd Consumer Discretionary 616 3/21/217 USD Bln 1 Q1 Q Q1 Q Q1 Q Quarters Q1 Q Q1 Q Q1 Q China Equity, Equity Linked & Rights 2 Deal Count APAC Equity, Equity Linked & Rights: Industry Breakdown 4 Deal Count Rights IPO Add'l 4 7% Industry Volume (USD Mln) % Of Total % YOY Change Financials 13, % 24.4% 6% Consumer Discretionary 7,78 18.% 32.% 6% 31% Industrials 5, % -2.2% Technology 4, % -65.1% 9% Materials 3, % 99.6% Consumer Staples 2,78 6.4% 388.1% 1% Communications 2, % 489.9% Utilities 1, % 64.8% 18% 12% Health Care 1,74 2.5% -46.8% Energy 339.8% -5.4% USD Bln 2 Q1 Q Q1 Q Q1 Q Quarters Q1 Q Q1 Q Japan Equity & Equity Linked Deal Count Rights IPO Q1 Q Deal Count 1,8 Add'l 11 USD Bln 1, 5 Deal Count Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Q1 Q Quarters Bloomberg League Table Reports Page 14

17 Asia ex-japan Equity, Equity Linked & Rights Asia ex-japan Equity, EQL & Rights ex-ch A Shares Goldman Sachs , CITIC Securities Co Ltd , Morgan Stanley , China International Capital Corp , Citi , UBS , Haitong Securities Co Ltd , GF Securities China Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Bank of America Merrill Lynch Sinolink Securities Co Ltd ICICI Deutsche Bank BNP Paribas State Bank of India Yuanta Securities Co Ltd Guosen Securities Co Ltd HSBC TOTAL 1% 27, % Asia ex-japan Equity & Equity Linked Goldman Sachs , CITIC Securities Co Ltd , Morgan Stanley , China International Capital Corp , Citi , UBS GF Securities China Securities Co Ltd Haitong Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Bank of America Merrill Lynch Sinolink Securities Co Ltd ICICI Deutsche Bank BNP Paribas Yuanta Securities Co Ltd Guosen Securities Co Ltd KGI Securities Co Ltd China Merchants Securities TOTAL 1% 25, % Goldman Sachs , Citi , Morgan Stanley Bank of America Merrill Lynch ICICI UBS BNP Paribas State Bank of India Haitong Securities Co Ltd Yuanta Securities Co Ltd HSBC KGI Securities Co Ltd BDO Capital & Investment Corp Deutsche Bank CIMB Edelweiss Financial Services Ltd Credit Suisse DBS Group NH Investment & Securities Co Ltd UOB Kay Hian Pvt Ltd TOTAL 1% 14, % Asia ex-japan Equity Linked UBS Everbright Securities Co Morgan Stanley China International Capital Corp Goldman Sachs CITIC Securities Co Ltd Yuanta Securities Co Ltd KGI Securities Co Ltd DBS Group Pacific Securities Co Ltd Cathay Securities Co Ltd Citi Barclays Mega Securities Co Ltd Grand Fortune Securities Co Taishin Financial Holding Co Ltd Yuanta Financial Holding Co Ltd Capital Securities Corp Kenanga Investment Bank Bhd TOTAL 1% 5, % Bloomberg League Table Reports Page 15

18 Asia ex-japan Equity Linked ex-china Exchanges Yuanta Securities Co Ltd KGI Securities Co Ltd DBS Group UBS Cathay Securities Co Ltd Citi Barclays Mega Securities Co Ltd Grand Fortune Securities Co Taishin Financial Holding Co Ltd Yuanta Financial Holding Co Ltd Capital Securities Corp Kenanga Investment Bank Bhd TOTAL 1% % Asia ex-japan Equity Offerings CITIC Securities Co Ltd , China International Capital Corp , Guotai Junan Securities Co Ltd , China Securities Co Ltd , Haitong Securities Co Ltd , Goldman Sachs , Huatai Securities Co Ltd , Citi , UBS , Bank of China , Deutsche Bank , Guosen Securities Co Ltd , GF Securities , Morgan Stanley , Industrial Securities Co Ltd Sinolink Securities Co Ltd Huarong Securities Co Ltd Bank of America Merrill Lynch Shenwan Hongyuan Group Co Ltd Southwest Securities Co Ltd TOTAL 1% 53, % Asia ex-japan Equity IPO GF Securities China Securities Co Ltd Haitong Securities Co Ltd CITIC Securities Co Ltd Guotai Junan Securities Co Ltd China International Capital Corp Sinolink Securities Co Ltd Citi Guosen Securities Co Ltd China Merchants Securities Zheshang Securities Co Ltd Ping An Insurance Group Co Zhongtai Securities Co Ltd Minsheng Securities Co Ltd Deutsche Bank CIMB NH Investment & Securities Co Ltd China Construction Bank UOB Kay Hian Pvt Ltd Shenwan Hongyuan Group Co Ltd TOTAL 1% 13, % Bloomberg League Table Reports Page 16

19 APAC Equity, Equity Linked & Rights APAC Equity & Equity Linked Goldman Sachs , Morgan Stanley , Sumitomo Mitsui Financial , Nomura , UBS , Mizuho Financial , CITIC Securities Co Ltd , Citi , China International Capital Corp , Haitong Securities Co Ltd , Bank of America Merrill Lynch GF Securities China Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Deutsche Bank Daiwa Securities Sinolink Securities Co Ltd ICICI JP Morgan TOTAL 1% 4, % APAC Equity Offerings Goldman Sachs , Sumitomo Mitsui Financial , Morgan Stanley , Citi , Nomura , Bank of America Merrill Lynch UBS Mizuho Financial GF Securities China Securities Co Ltd Haitong Securities Co Ltd CITIC Securities Co Ltd Guotai Junan Securities Co Ltd Deutsche Bank China International Capital Corp Daiwa Securities Sinolink Securities Co Ltd ICICI BNP Paribas Guosen Securities Co Ltd TOTAL 1% 29, % Goldman Sachs , Morgan Stanley , Sumitomo Mitsui Financial , Nomura , UBS , Mizuho Financial , CITIC Securities Co Ltd , China International Capital Corp , Citi , Bank of America Merrill Lynch GF Securities China Securities Co Ltd Haitong Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Deutsche Bank Daiwa Securities Sinolink Securities Co Ltd ICICI JP Morgan TOTAL 1% 38, % APAC Equity Linked Morgan Stanley , Goldman Sachs , Nomura UBS Everbright Securities Co China International Capital Corp CITIC Securities Co Ltd Mizuho Financial JP Morgan Yuanta Securities Co Ltd KGI Securities Co Ltd DBS Group Pacific Securities Co Ltd Daiwa Securities Cathay Securities Co Ltd Citi Barclays Sumitomo Mitsui Financial Mega Securities Co Ltd Grand Fortune Securities Co TOTAL 1% 8, % Bloomberg League Table Reports Page 17

20 APAC ex-japan Equity, Equity Linked & Rights Goldman Sachs , CITIC Securities Co Ltd , Citi , Morgan Stanley , China International Capital Corp , UBS , Haitong Securities Co Ltd , GF Securities China Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Bank of America Merrill Lynch Sinolink Securities Co Ltd ICICI Deutsche Bank BNP Paribas State Bank of India Yuanta Securities Co Ltd Guosen Securities Co Ltd HSBC TOTAL 1% 29, % APAC ex-japan Equity Offerings Goldman Sachs , Citi , GF Securities China Securities Co Ltd Haitong Securities Co Ltd CITIC Securities Co Ltd Morgan Stanley Guotai Junan Securities Co Ltd Bank of America Merrill Lynch China International Capital Corp Sinolink Securities Co Ltd ICICI Deutsche Bank BNP Paribas Guosen Securities Co Ltd China Merchants Securities Shenwan Hongyuan Group Co Ltd Macquarie Zheshang Securities Co Ltd CIMB TOTAL 1% 21, % APAC ex-japan Equity & Equity Linked Goldman Sachs , CITIC Securities Co Ltd , Morgan Stanley , China International Capital Corp , Citi , UBS , GF Securities China Securities Co Ltd Haitong Securities Co Ltd Everbright Securities Co Guotai Junan Securities Co Ltd Bank of America Merrill Lynch Sinolink Securities Co Ltd ICICI Deutsche Bank BNP Paribas Yuanta Securities Co Ltd Guosen Securities Co Ltd KGI Securities Co Ltd China Merchants Securities TOTAL 1% 26, % APAC ex-japan Equity IPO GF Securities China Securities Co Ltd Haitong Securities Co Ltd CITIC Securities Co Ltd Guotai Junan Securities Co Ltd China International Capital Corp Sinolink Securities Co Ltd Citi Guosen Securities Co Ltd China Merchants Securities Zheshang Securities Co Ltd Ping An Insurance Group Co Zhongtai Securities Co Ltd Minsheng Securities Co Ltd Deutsche Bank CIMB NH Investment & Securities Co Ltd China Construction Bank UOB Kay Hian Pvt Ltd Shenwan Hongyuan Group Co Ltd TOTAL 1% 13, % Bloomberg League Table Reports Page 18