Financials capture 16.3% of APAC ECM issuance YTD
They got the lion's share.
The Financials sector captured majority of the ECM issuance listed in Asia Pacific thus far with 16.3% market share worth US$24.0 billion, despite the 20.6% decline in proceeds.
According to a research note from Thomson Reuters, industrials followed second place with 13.8% market share worth US$20.2 billion in proceeds.
The note said this number is up 13.9% over a year ago, and the highest first nine months period since 2011 (US$27.3 billion).
Here's more from Thomson Reuters:
TMT sector (Technology, Media, and Telecommunications) raised US$27.7 billion, a 94.9% increase compared to the first nine months of 2013, after proceeds in High Tech (up 129.2%), Media & Entertainment (up 24.1%) and Telecommunications (up 179.0%) witnessed growth across all three sectors.
Meanwhile, the report also noted that Goldman Sachs holds the top spot for Asia Pacific-listed ECM League Table so far this year.
Goldman Sachs captured 8.1% market share with US$11.9 billion worth of related proceeds. UBS and Morgan Stanley round out the top three with 6.6% and 5.2% market share, respectively.