GLOBAL EQUITY CAPITAL MARKETS LEAGUE TABLES Q1 2020 Preliminary As of 25 March 2020 Q1 2020 PRELIMINARY AS OF 25 MARCH 2020
MANAGER RANKINGS GLOBAL EQUITY, EQUITY LINKED & RIGHTS
CONTENTS Bloomberg’s global equity offerings database consists of nearly 87,000 deals (with approximately 43,000 IPOs and over 43,000 additional offerings), and coverage of more than 1. Global market review 500 financial advisors and 500 legal advisors. 2. US market review LEAG
3. Canada market review IPO
DATA SUBMISSIONS AND QUERIES Contact Phone Email North America Larisa Bykova +1 646 324 2355 [email protected]
EMEA Dimitri Quemard +44 20 3525 0253 [email protected]
Asia-Pacific Zhen Hao Toh +65 6499 2931 [email protected]
© 2020 Bloomberg Finance L.P. All rights reserved. Bloomberg Preliminary Global Equity | Q1 2020
Global Equity, Equity Linked & Rights: Industry Breakdown
Global Equity Review 8% Financials 22% Q1 2020 credited Global Equity, Equity Linked & Rights volume decreased 3.11% to USD 128.6 Bln while deal count 5% 22% Health Care 18% decreased 8.94% to 906 offerings year-on-year. Global Equity IPO volume increased 73.37% year-on-year to USD 32.2 Bln 6% Consumer Discretionary 16% while the deal count decreased 0.40% to 247. Global Equity Linked volume decreased 28.36% year-on-year to USD 25.7 Bln 6% Technology 11% over 97 deals. 9% Morgan Stanley ranked as the top Global Equity, Equity Linked & Rights underwriter for Q1 2020 with 9.76% market share. 18% Communications 9% The bank underwrote 75 deals over the period. Goldman Sachs and BofA Securities ranked second and third with 8.84% and Consumer Staples 6% 11% 7.48% market share, respectively. 16% Industrials 6% Energy 5% Global Equity, Equity Linked & Rights: Highlights of Q1 2020 Others 8%
Top Underwriter Volume (USD Issuer Industry Mln) Date Morgan Stanley Beijing-Shanghai High Speed Railway Co Consumer 4,403 01/03/2020 Number of deals 75 Ltd Discretionary Volume (USD Mln) 12,552 Petroleo Brasileiro SA Energy 3,938 02/07/2020 Global Equity, Equity Linked & Rights: Industry Breakdown Avg Deal size (USD Mln) 167.4 NextEra Energy Inc Utilities 2,500 02/19/2020 SGS SA Consumer 2,401 02/04/2020 Industry Volume (USD Mln) % Of Total % YOY Change Market Summary Discretionary Tesla Inc Consumer 2,337 02/14/2020 Financials 30,042 21.9% -40.0% Number of deals 906 Discretionary Health Care 24,310 17.8% 14.3% Volume (USD Mln) 128,647 Central Retail Corp PCL Consumer 2,281 02/06/2020 Consumer Discretionary 21,398 15.6% 55.6% Avg Deal size (USD Mln) 142.0 Discretionary Technology 14,422 10.5% 2.8% Bharti Airtel Ltd Communications 2,027 01/20/2020 Communications 12,425 9.1% 2.9% PPD Inc Health Care 1,863 02/05/2020 Consumer Staples 8,270 6.0% 60.3% ZTE Corp Technology 1,657 01/07/2020 Industrials 7,812 5.7% -27.7% Prosus NV Communications 1,646 01/22/2020 Energy 7,118 5.2% 67.9% Materials 5,921 4.3% -3.7% Utilities 5,036 3.7% 81.4%
Global Equity, Equity Linked & Rights: Quarterly Volume
Deal Count Add'l IPO Rights
Equity-Linked Global Equity, Equity Linked & Rights: Offering Breakdown 400 2,500 Offering Type Volume (USD Mln) % Of Total % YOY Change Additional Offerings 73,104 53.4% -4.6% 2,000 300 IPO 32,732 23.9% 75.6% Equity-Linked 27,272 19.9% -32.4% D D
1,500 e e Rights Offerings 3,781 2.8% -19.8% n n a a l l l l B B C C
D D 200 o o u u S S n n U U 1,000 t t
100 500
0 0 55 66 77 88 99 00 11 11 11 11 11 22 00 00 00 00 00 00 22 22 22 22 22 22 11 11 11 11 11 11 Q Q Q Q Q Q
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Bloomberg League Table Reports Page 1 Bloomberg Preliminary Global Equity | Q1 2020
Global Equity, Equity Linked & Rights Global Equity & Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 9.757 12,552 75 1 10.130 -0.373 Morgan Stanley 1 9.887 12,552 75 1 10.271 -0.384 Goldman Sachs 2 8.843 11,377 73 2 8.450 0.393 Goldman Sachs 2 8.961 11,377 73 2 8.567 0.394 BofA Securities 3 7.475 9,617 58 3 6.755 0.720 BofA Securities 3 7.575 9,617 58 3 6.849 0.726 JP Morgan 4 6.557 8,435 73 5 5.720 0.837 JP Morgan 4 6.645 8,435 73 5 5.800 0.845 Citi 5 5.478 7,047 52 4 6.069 -0.591 Citi 5 5.551 7,047 52 4 6.073 -0.522 Credit Suisse 6 4.986 6,415 35 7 3.831 1.155 Credit Suisse 6 5.053 6,415 35 7 3.884 1.169 China International Capital Corp 7 3.594 4,624 25 13 2.168 1.426 China International Capital Corp 7 3.642 4,624 25 13 2.198 1.444 UBS 8 3.272 4,210 35 6 4.034 -0.762 UBS 8 3.316 4,210 35 6 4.090 -0.774 Barclays 9 3.240 4,168 34 8 3.756 -0.516 Barclays 9 3.283 4,168 34 8 3.808 -0.525 CITIC Securities 10 3.125 4,020 16 9 3.502 -0.377 China Securities 10 3.115 3,954 9 10 2.737 0.378 China Securities 11 3.124 4,019 10 10 2.699 0.425 CITIC Securities 11 3.068 3,895 15 9 3.551 -0.483 HSBC 12 2.014 2,591 23 11 2.485 -0.471 HSBC 12 2.028 2,575 22 11 2.519 -0.491 Wells Fargo 13 1.573 2,023 17 19 1.097 0.476 Wells Fargo 13 1.594 2,023 17 19 1.112 0.482 Jefferies 14 1.426 1,835 32 21 0.939 0.487 Jefferies 14 1.445 1,835 32 27 0.654 0.791 Deutsche Bank 15 1.367 1,758 15 14 1.732 -0.365 Deutsche Bank 15 1.385 1,758 15 14 1.756 -0.371 Guotai Junan Securities 16 1.246 1,603 14 20 1.043 0.203 BNP Paribas 16 1.234 1,566 11 17 1.511 -0.277 BNP Paribas 17 1.217 1,566 11 17 1.491 -0.274 RBC Capital Markets 17 1.095 1,390 18 15 1.641 -0.546 Industrial Securities 18 1.131 1,455 12 152 0.036 1.095 Guotai Junan Securities 18 1.024 1,300 12 20 1.057 -0.033 RBC Capital Markets 19 1.080 1,390 18 15 1.619 -0.539 Cowen & Co 19 1.016 1,289 21 22 0.838 0.178 Cowen & Co 20 1.002 1,289 21 24 0.826 0.176 BMO Capital Markets 20 0.808 1,025 14 30 0.588 0.220 TOTAL 100% 128,647 906 100% TOTAL 100% 126,951 890 100%
Global Equity Offerings Global Equity IPO Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 9.989 10,118 61 1 12.097 -2.108 China International Capital Corp 1 10.247 3,301 16 22 1.391 8.856 Goldman Sachs 2 8.031 8,134 59 2 9.359 -1.328 CITIC Securities 2 7.332 2,362 4 3 4.857 2.475 BofA Securities 3 6.101 6,180 47 4 5.948 0.153 China Securities 3 6.497 2,093 5 29 1.048 5.449 Credit Suisse 4 5.833 5,909 30 6 4.411 1.422 Goldman Sachs 4 5.643 1,818 12 4 4.464 1.179 Citi 5 5.459 5,530 43 5 5.401 0.058 Credit Suisse 5 4.576 1,474 11 10 2.335 2.241 JP Morgan 6 5.399 5,469 57 3 6.425 -1.026 Morgan Stanley 6 3.842 1,238 12 2 5.659 -1.817 China International Capital Corp 7 3.869 3,919 22 16 1.426 2.443 Citi 7 3.339 1,076 10 9 2.403 0.936 China Securities 8 3.702 3,750 6 12 1.948 1.754 JP Morgan 8 3.048 982 10 15 1.888 1.160 UBS 9 3.597 3,643 32 8 3.570 0.027 UBS 9 2.851 919 9 11 2.144 0.707 CITIC Securities 10 3.437 3,481 12 9 2.563 0.874 Sinolink Securities 10 2.458 792 4 49 0.579 1.879 Barclays 11 2.963 3,002 26 7 3.803 -0.840 Deutsche Bank 11 2.413 777 4 1 6.015 -3.602 HSBC 12 2.012 2,038 17 14 1.592 0.420 HSBC 12 2.132 687 5 - - 2.132 Deutsche Bank 13 1.633 1,655 13 10 2.218 -0.585 Barclays 13 1.874 604 5 16 1.746 0.128 Jefferies 14 1.551 1,571 30 31 0.631 0.920 Jefferies 14 1.738 560 8 42 0.685 1.053 Cowen & Co 15 1.273 1,289 21 20 0.921 0.352 BofA Securities 15 1.505 485 5 7 3.290 -1.785 RBC Capital Markets 16 1.148 1,162 16 13 1.928 -0.780 GF Securities 16 1.374 443 7 41 0.706 0.668 Wells Fargo 17 1.143 1,158 15 22 0.813 0.330 Nomura 17 1.313 423 6 12 2.119 -0.806 Guotai Junan Securities 18 1.078 1,092 10 15 1.491 -0.413 Everbright Securities 18 1.266 408 8 37 0.926 0.340 Bradesco BBI SA 19 0.998 1,011 8 79 0.164 0.834 Bangkok Bank PCL 19 1.180 380 1 - - 1.180 BMO Capital Markets 20 0.918 930 12 34 0.477 0.441 Kasikornbank PCL 19 1.180 380 1 79 0.216 0.964 TOTAL 100% 101,294 793 100% TOTAL 100% 32,217 247 100%
Bloomberg League Table Reports Page 2 Bloomberg Preliminary Global Equity | Q1 2020
Global Equity Linked Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) BofA Securities 1 13.396 3,437 11 1 9.045 4.351 Goldman Sachs 2 12.637 3,242 14 3 6.638 5.999 JP Morgan 3 11.561 2,966 16 10 4.276 7.285 Morgan Stanley 4 9.485 2,434 14 5 5.823 3.662 Citi 5 5.915 1,518 9 2 7.711 -1.796 Barclays 6 4.546 1,166 8 12 3.819 0.727 Wells Fargo 7 3.372 865 2 16 1.840 1.532 China International Capital Corp 8 2.746 704 3 11 4.078 -1.332 BNP Paribas 9 2.607 669 4 13 3.583 -0.976 Huatai Securities 10 2.360 606 3 15 2.218 0.142 UBS 11 2.207 566 3 6 5.358 -3.151 HSBC 12 2.093 537 5 8 4.779 -2.686 Credit Suisse 13 1.972 506 5 14 2.601 -0.629 CITIC Securities 14 1.613 414 3 4 5.958 -4.345 Shenwan Hongyuan Group 15 1.472 378 2 18 1.214 0.258 China Merchants Securities 16 1.209 310 2 19 1.207 0.002 Mizuho Financial 17 1.119 287 5 - - 1.119 Dongya Qianhai Securities Co Ltd 18 1.098 282 1 - - 1.098 UniCredit 19 1.087 279 2 - - 1.087 Jefferies 20 1.028 264 2 25 0.711 0.317 TOTAL 100% 25,657 97 100%
Bloomberg League Table Reports Page 3 Bloomberg Preliminary Global Equity | Q1 2020
US Equity & Equity Linked: Industry Breakdown
US Equity Review 4% Health Care 34% 7% Q1 2020 credited US Equity & Equity Linked volume decreased 4.48% to USD 41.0 Bln while deal count decreased 12.11% Financials 26% 7% to 167 offerings year-on-year. US Equity IPO volume increased 23.55% year-on-year to USD 9.5 Bln while the deal count 34% Technology 12% increased 10.34% to 32. US Equity Linked volume increased 22.90% year-on-year to USD 11.8 Bln over 22 deals. 9% Consumer Discretionary 9% Goldman Sachs ranked as the top US Equity & Equity Linked underwriter for Q1 2020 with 15.41% market share. The bank underwrote 39 deals over the period. BofA Securities and JP Morgan ranked second and third with 14.16% and 11.24% Consumer Staples 7% 12% market share, respectively. Utilities 7% 26% Others 4%
US Equity & Equity Linked: Highlights of Q1 2020
Top Underwriter Issuer Industry Volume (USD Mln) Date NextEra Energy Inc Utilities 2,500 02/19/2020 Goldman Sachs Tesla Inc Consumer Discretionary 2,337 02/14/2020 Number of deals 39 PPD Inc Health Care 1,863 02/05/2020 Volume (USD Mln) 6,314 Reynolds Consumer Products Inc Consumer Staples 1,410 01/30/2020 US Equity & Equity Linked: Industry Breakdown Avg Deal size (USD Mln) 161.9 MongoDB Inc Technology 1,150 01/10/2020 Market Summary Exact Sciences Corp Health Care 1,150 02/25/2020 Industry Volume (USD Mln) % Of Total % YOY Change Churchill Capital Corp III Financials 1,100 02/13/2020 Health Care 14,319 34.3% 15.1% Number of deals 167 Keurig Dr Pepper Inc Consumer Staples 1,090 03/04/2020 Financials 10,869 26.0% -30.9% Volume (USD Mln) 40,979 Alexandria Real Estate Equities Inc Financials 1,070 01/06/2020 Technology 5,024 12.0% 7.8% Avg Deal size (USD Mln) 245.4 RingCentral Inc Technology 1,000 02/28/2020 Consumer Discretionary 3,765 9.0% 58.2% Consumer Staples 3,044 7.3% 213.7% Utilities 2,912 7.0% 261.8% Materials 880 2.1% 2413.2% US Equity & Equity Linked: Quarterly Volume Industrials 504 1.2% -83.7% Energy 411 1.0% -37.6%
Deal Count Add'l IPO Equity-Linked Communications 12 0.0% -99.6% 100 400
80 300 US Equity & Equity Linked: Offering Breakdown
60 D D
60 e e n n a a l l l l
B B Offering Type Volume (USD Mln) % Of Total % YOY Change C C
o o D D 200 u u S S
n n Additional Offerings 20,017 48.0% -24.4% U U 40 t t 40 Equity-Linked 12,219 29.3% 23.4% IPO 9,504 22.8% 23.5% 100 20
0 0 55 66 77 88 99 00 11 11 11 11 11 22 00 00 00 00 00 00 22 22 22 22 22 22 11 11 11 11 11 11 Q Q Q Q Q Q
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Bloomberg League Table Reports Page 4 Bloomberg Preliminary Global Equity | Q1 2020
US Equity & Equity Linked US Equity Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 15.407 6,314 39 1 13.718 1.689 Goldman Sachs 1 12.803 3,732 29 1 16.297 -3.494 BofA Securities 2 14.163 5,804 35 3 11.987 2.176 Morgan Stanley 2 10.976 3,199 25 2 12.698 -1.722 JP Morgan 3 11.241 4,606 38 4 10.071 1.170 JP Morgan 3 9.534 2,779 30 3 11.677 -2.143 Morgan Stanley 4 10.724 4,394 33 2 12.345 -1.621 BofA Securities 4 9.394 2,738 25 4 8.723 0.671 Citi 5 7.250 2,971 23 7 5.152 2.098 Citi 5 8.361 2,437 19 7 4.904 3.457 Wells Fargo 6 4.773 1,956 16 8 3.200 1.573 Barclays 6 4.392 1,280 14 5 7.802 -3.410 Barclays 7 4.694 1,923 18 5 9.136 -4.442 Jefferies 7 4.182 1,219 21 16 1.479 2.703 Jefferies 8 3.618 1,483 23 13 1.721 1.897 Deutsche Bank 8 4.143 1,208 7 8 4.198 -0.055 Deutsche Bank 9 3.150 1,291 8 9 3.180 -0.030 Credit Suisse 9 3.958 1,154 11 6 6.712 -2.754 Credit Suisse 10 2.815 1,154 11 6 6.289 -3.474 Cowen & Co 10 3.839 1,119 18 9 2.259 1.580 Cowen & Co 11 2.731 1,119 18 12 1.812 0.919 UBS 11 3.744 1,091 14 22 0.572 3.172 UBS 12 2.663 1,091 14 27 0.433 2.230 Wells Fargo 12 3.742 1,091 14 10 2.173 1.569 Evercore Partners Inc 13 1.790 734 8 15 1.537 0.253 Evercore Partners Inc 13 2.517 734 8 13 1.782 0.735 RBC Capital Markets 14 1.692 693 11 11 2.101 -0.409 RBC Capital Markets 14 1.864 543 10 12 2.104 -0.240 SVB Leerink LLC 15 1.325 543 8 16 1.199 0.126 SVB Leerink LLC 15 1.863 543 8 14 1.584 0.279 Stifel 16 1.040 426 10 20 0.807 0.233 Stifel 16 1.463 426 10 17 1.066 0.397 HSBC 17 1.009 413 4 10 2.811 -1.802 HSBC 17 1.309 382 3 15 1.523 -0.214 Mizuho Financial 18 0.903 370 6 31 0.264 0.639 Guggenheim Capital 18 1.043 304 8 37 0.250 0.793 Truist Financial Corp 19 0.776 318 9 - - 0.776 BTIG LLC 19 0.963 281 2 21 0.599 0.364 Piper Sandler & Co 20 0.752 308 7 - - 0.752 EarlyBirdCapital Inc 20 0.829 242 1 18 0.918 -0.089 TOTAL 100% 40,979 167 100% TOTAL 100% 29,147 145 100%
US Equity IPO US Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 15.635 1,486 8 2 10.219 5.416 BofA Securities 1 25.910 3,066 10 1 22.179 3.731 Citi 2 9.876 939 6 16 1.709 8.167 Goldman Sachs 2 21.821 2,582 10 7 5.664 16.157 Deutsche Bank 3 8.180 777 4 1 15.288 -7.108 JP Morgan 3 15.447 1,828 8 8 5.059 10.388 JP Morgan 4 7.973 758 7 10 3.905 4.068 Morgan Stanley 4 10.101 1,195 8 3 11.244 -1.143 Morgan Stanley 5 6.233 592 6 7 5.590 0.643 Wells Fargo 5 7.312 865 2 5 6.410 0.902 Credit Suisse 6 6.120 582 4 5 5.895 0.225 Barclays 6 5.437 643 4 2 13.301 -7.864 Jefferies 7 4.595 437 6 19 1.097 3.498 Citi 7 4.516 534 4 6 5.926 -1.410 UBS 8 4.309 410 5 18 1.492 2.817 Jefferies 8 2.229 264 2 11 2.476 -0.247 Barclays 9 4.089 389 3 9 4.837 -0.748 RBC Capital Markets 9 1.268 150 1 13 2.090 -0.822 HSBC 10 4.016 382 3 - - 4.016 Truist Financial Corp 10 1.241 147 2 - - 1.241 Evercore Partners Inc 11 3.363 320 2 6 5.755 -2.392 Mizuho Financial 11 1.199 142 2 - - 1.199 Cowen & Co 12 3.045 289 4 15 2.545 0.500 Kohlberg Kravis Roberts & Co 12 0.930 110 1 - - 0.930 EarlyBirdCapital Inc 13 2.541 242 1 8 5.300 -2.759 Piper Sandler & Co 12 0.930 110 1 - - 0.930 BofA Securities 14 2.251 214 3 4 8.773 -6.522 Deutsche Bank 14 0.704 83 1 - - 0.704 RBC Capital Markets 15 1.855 176 1 - - 1.855 HSBC 15 0.269 32 1 4 6.834 -6.565 Imperial Capital LLC 16 1.578 150 1 - - 1.578 Mitsubishi UFJ Financial Group Inc 15 0.269 32 1 12 2.240 -1.971 Mizuho Financial 17 1.508 143 1 - - 1.508 Scotiabank 15 0.269 32 1 14 1.866 -1.597 Guggenheim Capital 18 1.495 142 3 - - 1.495 BMO Capital Markets 18 0.149 18 1 - - 0.149 I-Bankers Securities Inc 19 1.263 120 1 - - 1.263 Ladenburg Thalmann & Co 19 0.000 0.01 1 25 0.104 -0.104 Canaccord Genuity 20 1.184 112 1 22 0.535 0.649 ------TOTAL 100% 9,504 32 100% TOTAL 100% 11,832 22 100%
Bloomberg League Table Reports Page 5 Bloomberg Preliminary Global Equity | Q1 2020
Canada Equity, Equity Linked & Preferred: Quarterly Volume
Deal Count Amount Canada Equity Review 20 180 Q1 2020 credited Canada Equity, Equity Linked & Preferred volume increased 48.58% to CAD 7.7 Bln while deal count 150 15
decreased 21.59% to 69 offerings year-on-year. Canada Equity IPO volume increased 605.12% year-on-year to CAD 2.7 D D e e n n a a l l l l
B B 100 Bln while the deal count decreased 32.00% to 17. Canada Equity Offerings volume increased 69.35% year-on-year to CAD C C
D D 10 o o u u A A n n
6.4 Bln over 64 deals. C C t t BMO Capital Markets ranked as the top Canada Equity, Equity Linked & Preferred underwriter for Q1 2020 with 12.16% 50 5 50 market share. The bank underwrote 9 deals over the period. TD Securities and RBC Capital Markets ranked second and
third with 11.42% and 10.44% market share, respectively. 0 0 155 166 177 188 199 200 001 001 001 001 001 002 22 22 22 22 22 22 11 11 11 11 11 11 QQ QQ QQ QQ QQ QQ
Quarters
Canada Equity, Equity Linked & Preferred Canada Equity, Equity Linked & Preferred: Industry Breakdown Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Industrials 40% 10% BMO Capital Markets 1 12.159 941 9 3 15.446 -3.287 Financials 23% TD Securities 2 11.425 884 7 4 6.333 5.092 9% Communications 19% RBC Capital Markets 3 10.436 808 8 2 21.677 -11.241 40% Scotiabank 4 9.006 697 8 7 2.675 6.331 Health Care 9% JP Morgan 5 5.607 434 4 9 1.866 3.741 19% Others 10% CIBC 6 5.349 414 7 1 27.189 -21.840 Stifel 7 5.341 413 4 - - 5.341 Canaccord Genuity 8 4.373 338 12 8 2.329 2.044 23% Raymond James & Associates 9 3.966 307 5 24 0.299 3.667 Barclays 10 3.800 294 2 - - 3.800 TOTAL 100% 7,740 69 100%
Canada Equity & Equity Linked Canada Equity, Equity Linked & Preferred: Manager Rankings History
Q1 2020 Q1 2019 2020 2019 2018 30 Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) )
BMO Capital Markets 1 12.262 782 6 3 15.317 -3.055 % ( 20 e r
TD Securities 2 11.372 726 4 4 5.768 5.604 a h S
RBC Capital Markets 3 10.084 643 4 2 21.846 -11.762 t e k r 10 Scotiabank 4 8.349 533 4 9 1.935 6.414 a M CIBC 5 5.537 353 4 1 27.622 -22.085
Canaccord Genuity 6 5.304 338 12 7 2.440 2.864 0 ts s ts k n C e ie e n a B JP Morgan 7 5.177 330 3 8 1.956 3.221 k it k a rg I r r r b o C a u a ia M c M t M l e l o Stifel 8 4.855 310 3 - - 4.855 a S a c P it it S J p D p a T a Raymond James & Associates 9 3.186 203 4 24 0.313 2.873 C C O C M B Cowen & Co 10 3.152 201 2 5 5.009 -1.857 B R TOTAL 100% 6,381 65 100%
Bloomberg League Table Reports Page 6 Bloomberg Preliminary Global Equity | Q1 2020
Canada Equity Offerings Canada Equity IPO Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) BMO Capital Markets 1 12.320 782 6 3 9.132 3.188 Canaccord Genuity 1 11.423 307 6 4 9.956 1.467 TD Securities 2 11.426 726 4 4 7.321 4.105 JP Morgan 2 8.973 241 2 1 24.643 -15.670 RBC Capital Markets 3 10.132 643 4 2 23.591 -13.459 RBC Capital Markets 2 8.973 241 2 - - 8.973 Scotiabank 4 8.389 533 4 7 2.276 6.113 Scotiabank 4 7.763 209 2 - - 7.763 CIBC 5 5.563 353 4 1 34.283 -28.720 Barclays 5 7.084 191 1 - - 7.084 Canaccord Genuity 6 5.329 338 12 8 2.186 3.143 BC Partners 5 7.084 191 1 - - 7.084 JP Morgan 7 5.202 330 3 6 2.482 2.720 BMO Capital Markets 5 7.084 191 1 1 24.643 -17.559 Stifel 8 4.878 310 3 - - 4.878 Goldman Sachs 5 7.084 191 1 - - 7.084 Raymond James & Associates 9 3.202 203 4 21 0.397 2.805 Raymond James & Associates 5 7.084 191 1 - - 7.084 Cowen & Co 10 3.166 201 2 25 0.186 2.980 Stifel 5 7.084 191 1 - - 7.084 Barclays 11 3.000 191 1 - - 3.000 TD Securities 5 7.084 191 1 - - 7.084 BC Partners 11 3.000 191 1 - - 3.000 Echelon Wealth Management Inc 12 5.450 147 1 - - 5.450 Goldman Sachs 11 3.000 191 1 9 2.069 0.931 BofA Securities 13 1.889 51 1 - - 1.889 Desjardins Capital Markets 14 2.805 178 4 11 1.595 1.210 Credit Suisse 13 1.889 51 1 - - 1.889 National Bank Financial Inc 15 2.660 169 2 5 2.832 -0.172 Morgan Stanley 13 1.889 51 1 - - 1.889 Echelon Wealth Management Inc 16 2.401 153 3 - - 2.401 UBS 13 1.889 51 1 - - 1.889 Citi 17 1.402 89 1 - - 1.402 Pacific International Securities Inc 17 0.141 4 3 7 1.699 -1.558 Wells Fargo 17 1.402 89 1 21 0.397 1.005 Leede Jones Gable Inc 18 0.065 2 3 11 0.080 -0.015 Cormark Securities Inc 19 1.225 78 5 16 0.843 0.382 Haywood Securities Inc/Vancouver 19 0.031 0.82 3 6 3.713 -3.682 AGP / Alliance Global Partners Corp 20 0.832 53 3 31 0.068 0.764 Mackie Research Capital Corp 20 0.016 0.44 1 11 0.081 -0.065 TOTAL 100% 6,351 64 100% TOTAL 100% 2,689 17 100%
Canadian Retail Structured Products Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) CIBC 1 14.906 40 5 2 29.160 -14.254 RBC Capital Markets 1 14.906 40 5 4 13.255 1.651 National Bank Financial Inc 3 11.923 32 4 3 24.917 -12.994 Scotiabank 3 11.923 32 4 1 32.669 -20.746 BMO Capital Markets 5 5.793 16 1 - - 5.793 Canaccord Genuity 5 5.793 16 1 - - 5.793 Desjardins Capital Markets 5 5.793 16 1 - - 5.793 Industrial Alliance Insurance & Financial 5 5.793 16 1 - - 5.793 Laurentian Bank of Canada 5 5.793 16 1 - - 5.793 Raymond James & Associates 5 5.793 16 1 - - 5.793 Stifel 5 5.793 16 1 - - 5.793 TD Securities 5 5.793 16 1 - - 5.793 ------TOTAL 100% 271 5 100%
Bloomberg League Table Reports Page 7 Bloomberg Preliminary Global Equity | Q1 2020
Latin America Equity Offerings: Quarterly Volume
Deal Count Amount Latin America Equity Review 20 30 Q1 2020 credited Latin America Equity Offerings volume increased 123.07% to USD 8.1 Bln while deal count decreased 15
0.00% to 13 offerings year-on-year. 20 D D e e n n a a l l l l B B
Morgan Stanley ranked as the top Latin America Equity Offerings underwriter for Q1 2020 with 13.47% market share. The C C
D D 10 o o u u S S n n
bank underwrote 6 deals over the period. Bradesco BBI SA and BofA Securities ranked second and third with 12.48% and U U t t 11.58% market share, respectively. 10 5
0 0 155 166 177 188 199 200 001 001 001 001 001 002 22 22 22 22 22 22 11 11 11 11 11 11 QQ QQ QQ QQ QQ QQ
Quarters
Latin America Equity Offerings Latin America Equity Offerings: Industry Breakdown Q1 2020 Q1 2019 6% Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Energy 63% Morgan Stanley 1 13.468 1,091 6 1 24.115 -10.647 6% Consumer Discretionary 15% Bradesco BBI SA 2 12.477 1,011 8 9 3.883 8.594 10% Consumer Staples 10% BofA Securities 3 11.581 938 4 4 9.910 1.671 XP Investimentos CCTVM SA 4 10.484 849 6 - - 10.484 Financials 6% Credit Suisse 5 10.110 819 5 - - 10.110 15% Others 6% Goldman Sachs 6 9.506 770 5 3 11.114 -1.608 63% Banco do Brasil SA 7 9.275 751 4 8 4.071 5.204 Citi 8 7.916 641 2 5 7.696 0.220 Banco Itau BBA 9 5.596 453 7 6 7.485 -1.889 Banco BTG Pactual 10 3.655 296 5 7 4.802 -1.147 TOTAL 100% 8,099 13 100%
Brazil Equity Offerings Latin America Equity Offerings: Manager Rankings History
Q1 2020 Q1 2019 2020 2019 2018 25 Firm Rank Mkt Share(%) Volume (BRL Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%)
) 20
Morgan Stanley 1 13.472 4,635 6 1 25.889 -12.417 % (
e r
Bradesco BBI SA 2 12.618 4,342 8 5 7.603 5.015 a h S
BofA Securities 3 11.560 3,978 4 2 19.261 -7.701 t e 10 k r
XP Investimentos CCTVM SA 4 10.608 3,650 6 - - 10.608 a M Credit Suisse 5 10.267 3,533 5 - - 10.267
Goldman Sachs 6 9.414 3,239 4 - - 9.414 0 y s e s e A e A s h Banco do Brasil SA 7 9.395 3,233 4 4 7.983 1.412 l S ti S s c n I ri i a ta B u M u S S B c V S e T it n Citi 8 8.035 2,765 2 - - 8.035 n o S C d a a c C e m rg s A r d o e f s C l d o to o Banco Itau BBA 9 5.620 1,934 7 3 14.482 -8.862 M ra B n G B e m ti s Banco BTG Pactual 10 3.671 1,263 5 7 7.259 -3.588 e v n I TOTAL 100% 34,407 12 100% P X
Bloomberg League Table Reports Page 8 Bloomberg Preliminary Global Equity | Q1 2020
EMEA Equity, Equity Linked & Rights - Risk: Largest Deals by Country EMEA Equity Review of Q1 2020 Issuer Volume (USD Mln) Date Country Q1 2020 credited EMEA Equity, Equity Linked & Rights - Risk volume decreased 4.15% to USD 24.2 Bln while deal count Worldline SA/France 1,622 02/04/2020 France decreased 9.57% to 189 offerings year-on-year. EMEA Equity IPO volume increased 89.04% year-on-year to USD 1.7 Bln Delivery Hero SE 976 01/15/2020 Germany Nexi SpA 625 01/10/2020 Italy while the deal count decreased 17.39% to 19. EMEA Equity Linked - Risk volume decreased 22.69% year-on-year to USD Just Eat Takeaway 560 02/14/2020 Netherlands 3.8 Bln over 6 deals. Dr Sulaiman Al Habib Medical Services Group Co 700 02/20/2020 Saudi Arabia Credit Suisse ranked as the top EMEA Equity, Equity Linked & Rights - Risk underwriter for Q1 2020 with 12.26% market Gold Fields Ltd 252 02/12/2020 South Africa share. The bank underwrote 6 deals over the period. Morgan Stanley and Goldman Sachs ranked second and third with Proeduca Altus SL 24 02/12/2020 Spain 8.98% and 8.05% market share, respectively. SGS SA 2,401 02/04/2020 Switzerland NMC Health PLC 491 01/08/2020 United Arab Emirates Hargreaves Lansdown PLC 710 02/07/2020 United Kingdom EMEA Equity, Equity Linked & Rights - Risk: Highlights of Q1 2020
Issuer Industry Volume (USD Mln) Date SGS SA Consumer Discretionary 2,401 02/04/2020 Worldline SA/France Technology 1,622 02/04/2020 EMEA Equity, Equity Linked & Rights - Risk: Industry Breakdown Yandex NV Communications 1,250 02/25/2020 Delivery Hero SE Communications 976 01/15/2020 Industry Volume (USD Mln) % Of Total % YOY Change Delivery Hero SE Communications 976 01/15/2020 Communications 5,565 19.5% 0.3% Orsted A/S Utilities 915 01/08/2020 Financials 5,422 19.0% -16.4% TeamViewer AG Technology 786 03/03/2020 Consumer Discretionary 4,433 15.5% 70.3% Hargreaves Lansdown PLC Financials 710 02/07/2020 Technology 3,696 13.0% 275.1% Evonik Industries AG Materials 705 01/13/2020 Health Care 3,646 12.8% -29.0% Dr Sulaiman Al Habib Medical Services Group Co Health Care 700 02/20/2020 Utilities 2,124 7.4% 3104.1% Materials 1,144 4.0% -56.3% Energy 907 3.2% -32.0% Industrials 813 2.8% -70.5% EMEA Equity, Equity Linked & Rights - Risk Consumer Staples 786 2.8% -42.9%
Deal Count Add'l IPO Rights
Equity-Linked 100 600 100 600 EMEA Equity, Equity Linked & Rights - Risk: Offering Breakdown
500 Offering Type Volume (USD Mln) % Of Total % YOY Change 80 Additional Offerings 21,955 76.9% 23.0% Equity-Linked 4,415 15.5% -43.3% 400 IPO 1,969 6.9% 110.8% 60 D D e e n n a a
l l Rights Offerings 198 0.7% -91.5% l l B B C C
D D 300 o o u u S S n n U U t t 40 200
20 100
0 0 55 66 77 88 99 00 11 11 11 11 11 22 00 00 00 00 00 00 22 22 22 22 22 22 11 11 11 11 11 11 Q Q Q Q Q Q
Quarters
Bloomberg League Table Reports Page 9 Bloomberg Preliminary Global Equity | Q1 2020
EMEA Equity, Equity Linked & Rights - Risk EMEA Equity, Equity Linked & Rights - Syndication Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Credit Suisse 1 12.225 2,970 6 7 5.174 7.051 Morgan Stanley 1 11.571 3,109 17 2 10.115 1.456 Morgan Stanley 2 8.953 2,175 13 2 10.454 -1.501 Credit Suisse 2 11.483 3,085 7 6 5.827 5.656 Goldman Sachs 3 8.022 1,949 14 34 0.427 7.595 Goldman Sachs 3 8.184 2,199 13 - - 8.184 Barclays 4 7.649 1,858 13 8 4.060 3.589 JP Morgan 4 8.110 2,179 15 5 6.514 1.596 JP Morgan 5 7.439 1,807 15 5 7.005 0.434 Citi 5 7.393 1,986 14 1 12.268 -4.875 UBS 6 6.320 1,535 6 4 7.538 -1.218 Barclays 6 6.501 1,746 12 8 3.794 2.707 BofA Securities 7 5.634 1,369 7 3 8.526 -2.892 BofA Securities 7 6.061 1,628 7 3 8.902 -2.841 Citi 8 5.619 1,365 14 1 12.176 -6.557 UBS 8 5.848 1,571 7 4 6.795 -0.947 BNP Paribas 9 4.717 1,146 9 6 5.230 -0.513 BNP Paribas 9 4.266 1,146 9 7 5.461 -1.195 HSBC 10 2.801 680 6 10 3.411 -0.610 HSBC 10 2.533 680 6 10 3.561 -1.028 Nordea 11 2.092 508 7 24 0.742 1.350 Nordea 11 1.891 508 7 23 0.775 1.116 UniCredit 12 1.522 370 3 15 1.515 0.007 UniCredit 12 1.377 370 3 15 1.582 -0.205 Societe Generale 13 1.522 370 4 9 3.578 -2.056 Societe Generale 13 1.376 370 4 9 3.735 -2.359 Deutsche Bank 14 1.474 358 4 14 1.882 -0.408 Deutsche Bank 14 1.333 358 4 14 1.965 -0.632 Carnegie 15 1.333 324 12 13 1.974 -0.641 Carnegie 15 1.206 324 12 13 2.061 -0.855 Danske Bank 16 1.165 283 2 22 0.889 0.276 Danske Bank 16 1.053 283 2 22 0.928 0.125 VTB Capital 17 1.029 250 1 19 0.983 0.046 VTB Capital 17 0.931 250 1 19 1.027 -0.096 EFG-Hermes 18 0.960 233 1 28 0.523 0.437 EFG-Hermes 18 0.868 233 1 27 0.547 0.321 Jadwa Investment Co 18 0.960 233 1 - - 0.960 Jadwa Investment Co 18 0.868 233 1 - - 0.868 Riyad Bank 18 0.960 233 1 - - 0.960 Riyad Bank 18 0.868 233 1 - - 0.868 TOTAL 100% 24,293 190 100% TOTAL 100% 26,864 192 100%
EMEA Equity & Equity Linked - Risk EMEA Equity & Equity Linked - Syndication Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Credit Suisse 1 12.225 2,970 6 7 5.414 6.811 Morgan Stanley 1 11.571 3,109 17 2 10.594 0.977 Morgan Stanley 2 8.953 2,175 13 2 10.939 -1.986 Credit Suisse 2 11.483 3,085 7 6 6.103 5.380 Goldman Sachs 3 8.022 1,949 14 30 0.446 7.576 Goldman Sachs 3 8.184 2,199 13 - - 8.184 Barclays 4 7.649 1,858 13 8 4.248 3.401 JP Morgan 4 8.110 2,179 15 5 6.822 1.288 JP Morgan 5 7.439 1,807 15 5 7.330 0.109 Citi 5 7.393 1,986 14 1 12.849 -5.456 UBS 6 6.320 1,535 6 4 7.888 -1.568 Barclays 6 6.501 1,746 12 8 3.973 2.528 BofA Securities 7 5.634 1,369 7 3 8.922 -3.288 BofA Securities 7 6.061 1,628 7 3 9.324 -3.263 Citi 8 5.619 1,365 14 1 12.742 -7.123 UBS 8 5.848 1,571 7 4 7.116 -1.268 BNP Paribas 9 4.717 1,146 9 6 5.473 -0.756 BNP Paribas 9 4.266 1,146 9 7 5.719 -1.453 HSBC 10 2.801 680 6 10 3.569 -0.768 HSBC 10 2.533 680 6 10 3.730 -1.197 Nordea 11 2.092 508 7 22 0.777 1.315 Nordea 11 1.891 508 7 21 0.812 1.079 UniCredit 12 1.522 370 3 14 1.585 -0.063 UniCredit 12 1.377 370 3 14 1.657 -0.280 Societe Generale 13 1.522 370 4 9 3.744 -2.222 Societe Generale 13 1.376 370 4 9 3.912 -2.536 Deutsche Bank 14 1.474 358 4 12 1.969 -0.495 Deutsche Bank 14 1.333 358 4 12 2.058 -0.725 Carnegie 15 1.333 324 12 13 1.945 -0.612 Carnegie 15 1.206 324 12 13 2.032 -0.826 Danske Bank 16 1.165 283 2 41 0.279 0.886 Danske Bank 16 1.053 283 2 39 0.291 0.762 VTB Capital 17 1.029 250 1 17 1.029 0.000 VTB Capital 17 0.931 250 1 17 1.075 -0.144 EFG-Hermes 18 0.960 233 1 24 0.548 0.412 EFG-Hermes 18 0.868 233 1 23 0.572 0.296 Jadwa Investment Co 18 0.960 233 1 - - 0.960 Jadwa Investment Co 18 0.868 233 1 - - 0.868 Riyad Bank 18 0.960 233 1 - - 0.960 Riyad Bank 18 0.868 233 1 - - 0.868 TOTAL 100% 24,293 190 100% TOTAL 100% 26,864 192 100%
Bloomberg League Table Reports Page 10 Bloomberg Preliminary Global Equity | Q1 2020
EMEA Equity Linked - Risk EMEA Equity Linked - Syndication Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 19.826 752 4 5 12.480 7.346 Morgan Stanley 1 22.841 1,238 6 5 11.761 11.080 JP Morgan 2 17.610 668 4 7 10.143 7.467 JP Morgan 2 12.321 668 4 7 9.558 2.763 BNP Paribas 3 13.236 502 3 1 15.373 -2.137 Citi 3 11.993 650 3 3 12.523 -0.530 Barclays 4 7.353 279 2 - - 7.353 BNP Paribas 4 9.261 502 3 1 14.487 -5.226 Citi 4 7.353 279 2 3 13.289 -5.936 BofA Securities 5 6.848 371 1 6 10.649 -3.801 HSBC 4 7.353 279 2 4 13.036 -5.683 Barclays 6 5.145 279 2 - - 5.145 UniCredit 4 7.353 279 2 - - 7.353 HSBC 6 5.145 279 2 4 12.285 -7.140 Goldman Sachs 8 6.590 250 1 - - 6.590 UniCredit 6 5.145 279 2 - - 5.145 UBS 8 6.590 250 1 2 14.446 -7.856 Goldman Sachs 9 4.611 250 1 - - 4.611 VTB Capital 8 6.590 250 1 - - 6.590 UBS 9 4.611 250 1 2 13.613 -9.002 Hypo Tirol Bank AG 11 0.148 6 1 - - 0.148 VTB Capital 9 4.611 250 1 - - 4.611 ------China International Capital Corp 12 2.121 115 1 - - 2.121 ------Credit Suisse 12 2.121 115 1 8 5.763 -3.642 ------Haitong Securities 12 2.121 115 1 - - 2.121 ------Mizuho Financial 15 1.005 54 1 - - 1.005 ------Hypo Tirol Bank AG 16 0.103 6 1 - - 0.103 ------TOTAL 100% 3,794 6 100% TOTAL 100% 5,422 9 100%
EMEA Equity IPO EMEA Equity Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) EFG-Hermes 1 13.473 233 1 - - 13.473 Credit Suisse 1 14.488 2,970 6 4 7.455 7.033 Jadwa Investment Co 1 13.473 233 1 - - 13.473 Goldman Sachs 2 8.287 1,699 13 28 0.615 7.672 Riyad Bank 1 13.473 233 1 - - 13.473 Barclays 3 7.704 1,579 11 6 5.850 1.854 Peel Hunt LLP 4 6.998 121 1 - - 6.998 Morgan Stanley 4 6.941 1,423 9 2 10.358 -3.417 Barclays 5 4.190 73 1 - - 4.190 BofA Securities 5 6.677 1,369 7 3 8.026 -1.349 Citi 5 4.190 73 1 - - 4.190 UBS 6 6.270 1,285 5 7 5.415 0.855 Credit Suisse 5 4.190 73 1 - - 4.190 JP Morgan 7 5.556 1,139 11 5 6.270 -0.714 Goldman Sachs 5 4.190 73 1 - - 4.190 Citi 8 5.298 1,086 12 1 12.535 -7.237 HSBC 5 4.190 73 1 - - 4.190 BNP Paribas 9 3.141 644 6 14 1.741 1.400 DNB ASA 10 4.106 71 1 - - 4.106 Nordea 10 2.479 508 7 20 1.069 1.410 Pareto Securities 10 4.106 71 1 - - 4.106 HSBC 11 1.958 401 4 - - 1.958 Carnegie 12 3.817 66 1 23 0.380 3.437 Societe Generale 12 1.803 370 4 9 3.628 -1.825 Jefferies 12 3.817 66 1 2 9.113 -5.296 Deutsche Bank 13 1.747 358 4 10 2.712 -0.965 Nordea 12 3.817 66 1 - - 3.817 Carnegie 14 1.580 324 12 11 2.678 -1.098 Societe Generale 15 2.239 39 2 - - 2.239 Danske Bank 15 1.380 283 2 39 0.384 0.996 Industrial & Comm Bank of China 16 2.200 38 1 - - 2.200 EFG-Hermes 16 1.138 233 1 22 0.754 0.384 Joh Berenberg Gossler & Co KG 17 1.654 29 1 - - 1.654 Jadwa Investment Co 16 1.138 233 1 - - 1.138 Louis Capital Markets LP 17 1.654 29 1 - - 1.654 Riyad Bank 16 1.138 233 1 - - 1.138 ODIN Investments 19 0.751 13 1 - - 0.751 Numis 19 1.051 215 4 17 1.403 -0.352 MainFirst Bank AG 20 0.585 10 1 - - 0.585 ABG Sundal Collier Asa 20 0.913 187 9 38 0.398 0.515 TOTAL 100% 1,731 19 100% TOTAL 100% 20,499 184 100%
Bloomberg League Table Reports Page 11 Bloomberg Preliminary Global Equity | Q1 2020
Western Europe Equity, Equity Linked & Rights Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (EUR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Credit Suisse 1 13.865 2,540 5 9 3.769 10.096 Morgan Stanley 2 8.625 1,580 10 2 10.656 -2.031 Barclays 3 8.388 1,537 12 7 4.455 3.933 Goldman Sachs 4 8.090 1,482 11 32 0.469 7.621 EMEA Rights Offerings BofA Securities 5 6.415 1,175 6 3 9.410 -2.995 No Data Available UBS 6 6.389 1,171 5 5 7.450 -1.061 BNP Paribas 7 5.642 1,034 9 6 5.760 -0.118 Citi 8 5.506 1,009 11 1 11.917 -6.411 JP Morgan 9 5.394 988 10 4 7.716 -2.322 HSBC 10 3.354 615 6 10 3.764 -0.410 Nordea 11 2.509 460 7 22 0.819 1.690 Societe Generale 12 1.825 334 4 8 3.917 -2.092 UniCredit 13 1.810 332 3 15 1.668 0.142 Carnegie 14 1.609 295 12 13 2.177 -0.568 Danske Bank 15 1.395 256 2 20 0.976 0.419 Numis 16 1.071 196 4 18 1.074 -0.003 Deutsche Bank 17 0.960 176 3 14 2.055 -1.095 ABG Sundal Collier Asa 18 0.937 172 9 36 0.304 0.633 Joh Berenberg Gossler & Co KG 19 0.870 159 3 26 0.617 0.253 CITIC Group Corp 20 0.806 148 1 - - 0.806 TOTAL 100% 18,321 163 100%
Eastern Europe Equity, Equity Linked & Rights AIM Equity Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (EUR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (GBP Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 28.192 471 3 - - 28.192 Canaccord Genuity 1 19.502 124 2 11 3.243 16.259 Morgan Stanley 2 20.356 340 2 4 14.308 6.048 Peel Hunt LLP 2 14.789 94 1 6 5.072 9.717 Goldman Sachs 3 13.751 230 1 - - 13.751 Nplus1 Singer Ltd 3 11.419 73 3 27 0.441 10.978 UBS 3 13.751 230 1 6 6.345 7.406 Numis 4 11.229 71 3 1 14.967 -3.738 VTB Capital 3 13.751 230 1 3 17.584 -3.833 Panmure Gordon 5 11.157 71 2 10 3.648 7.509 Citi 6 6.606 110 1 1 23.929 -17.323 Liberum Capital Ltd 6 5.565 35 2 16 0.912 4.653 Wood & Co Financial Services AS 7 3.095 52 1 - - 3.095 Shore Capital Group Ltd 7 3.230 21 4 3 10.441 -7.211 PrimePartners Corporate Finance Pte Ltd 8 0.199 3 1 - - 0.199 Investec 8 3.124 20 1 2 14.710 -11.586 Banco Santander 9 0.186 3 1 7 2.306 -2.120 Joh Berenberg Gossler & Co KG 8 3.124 20 1 16 0.912 2.212 Davy 10 0.114 2 1 - - 0.114 Arden Partners Ltd 10 2.594 16 3 7 5.029 -2.435 ------Peterhouse Capital Ltd 11 1.731 11 10 39 0.161 1.570 ------Cantor Fitzgerald 12 1.543 10 2 34 0.336 1.207 ------Cenkos Securities 13 1.497 10 2 4 7.717 -6.220 ------FinnCap 14 1.172 7 3 8 4.490 -3.318 ------Banca Finnat Euramerica Spa 15 0.819 5 1 - - 0.819 ------Turner Pope Investments Ltd 16 0.786 5 6 25 0.562 0.224 ------Dowgate Capital Stockbrokers Ltd 17 0.700 4 2 15 0.918 -0.218 ------Bryan Garnier & Company Ltd 18 0.661 4 1 - - 0.661 ------Nplus1 Singer Advisory LLP 18 0.661 4 1 - - 0.661 ------Jefferies 20 0.629 4 1 - - 0.629 TOTAL 100% 1,671 7 100% TOTAL 100% 636 62 100%
Bloomberg League Table Reports Page 12 Bloomberg Preliminary Global Equity | Q1 2020
Africa Equity, Equity Linked & Rights Sub-Sahara Equity, Equity Linked & Rights Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) BofA Securities 1 18.080 77 1 - - 18.080 BMO Capital Markets 1 18.923 126 1 - - 18.923 Citi 1 18.080 77 1 - - 18.080 JP Morgan 1 18.923 126 1 - - 18.923 Investec 3 13.891 59 1 1 49.017 -35.126 BofA Securities 3 11.556 77 1 - - 11.556 Goldman Sachs 4 12.738 54 1 - - 12.738 Citi 3 11.556 77 1 - - 11.556 Standard Bank of South Africa 4 12.738 54 1 - - 12.738 Investec 5 8.879 59 1 1 72.948 -64.069 Java Capital 6 12.454 53 1 3 17.458 -5.004 Goldman Sachs 6 8.335 55 2 - - 8.335 Industrial & Comm Bank of China 7 8.962 38 1 - - 8.962 Standard Bank of South Africa 7 8.141 54 1 - - 8.141 ODIN Investments 8 3.059 13 1 - - 3.059 Java Capital 8 7.960 53 1 2 25.982 -18.022 ------Industrial & Comm Bank of China 9 5.728 38 1 - - 5.728 ------TOTAL 100% 425 6 100% TOTAL 100% 665 7 100%
MENA Equity, Equity Linked & Rights Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) EFG-Hermes 1 17.922 233 1 1 50.813 -32.891 Jadwa Investment Co 1 17.922 233 1 - - 17.922 Riyad Bank 1 17.922 233 1 - - 17.922 Barclays 4 12.576 164 1 - - 12.576 Credit Suisse 4 12.576 164 1 - - 12.576 Deutsche Bank 4 12.576 164 1 - - 12.576 Citi 7 3.753 49 1 - - 3.753 Morgan Stanley 7 3.753 49 1 - - 3.753 ODIN Investments 9 0.999 13 1 - - 0.999 ------TOTAL 100% 1,301 4 100%
Bloomberg League Table Reports Page 13 Bloomberg Preliminary Global Equity | Q1 2020
Asia ex-Japan Equity, Equity Linked & Rights
Deal Count Add'l IPO Asia Pacific Equity Review Rights 120 1,000
Q1 2020 credited APAC ex-Japan Equity, Equity Linked & Rights volume decreased 11.28% to USD 46.7 Bln while deal 100 D D e e n n l l count decreased 8.76% to 406 offerings year-on-year. APAC ex-Japan Equity IPO volume increased 107.27% year-on-year a a l l B B
C C D D 500 o o u u S S
to USD 17.9 Bln while the deal count increased 4.23% to 148. APAC ex-Japan Equity Linked volume decreased 52.49% 50 n n U U t t year-on-year to USD 9.5 Bln over 64 deals.
China International Capital Corp ranked as the top APAC ex-Japan Equity, Equity Linked & Rights underwriter for Q1 2020 0 0 155 166 177 188 199 200 001 001 001 001 001 002 with 9.91% market share. The bank underwrote 25 deals over the period. Morgan Stanley and CITIC Securities ranked 22 22 22 22 22 22 11 11 11 11 11 11 Q Q Q Q Q Q second and third with 9.16% and 8.61% market share, respectively. Q Q Q Q Q Q Quarters Australia/New Zealand Equity, EQL & Rights APAC Equity, Equity Linked & Rights: Highlights of Q1 2020 Deal Count Add'l IPO
Issuer Industry Volume (USD Mln) Date Rights Beijing-Shanghai High Speed Railway Co Ltd Consumer Discretionary 4,403 01/03/2020 20 400 Central Retail Corp PCL Consumer Discretionary 2,281 02/06/2020 D D e e n n l l a a
Bharti Airtel Ltd Communications 2,027 01/20/2020 l l B B
C C D D 10 200 o o u u S S
ZTE Corp Technology 1,657 01/07/2020 n n U U t t Prosus NV Communications 1,646 01/22/2020 SBI Cards & Payment Services Ltd Financials 1,396 03/06/2020 0 0 ANLLIAN Capital Ltd Consumer Discretionary 1,114 01/13/2020 155 166 177 188 199 200 001 001 001 001 001 002 22 22 22 22 22 22 11 11 11 11 11 11 East Money Information Co Ltd Financials 1,059 01/13/2020 QQ QQ QQ QQ QQ QQ Sunac China Holdings Ltd Financials 1,030 01/17/2020 Quarters Bharti Airtel Ltd Communications 1,000 01/08/2020 China Equity, Equity Linked & Rights
Deal Count Add'l IPO
APAC Equity, Equity Linked & Rights: Industry Breakdown Rights 400 400 D D e e
Industry Volume (USD Mln) % Of Total % YOY Change n n a a l l l l
B B C C
o o D D 200 200 u u 7% Financials 12,017 23.0% -53.0% S S n n U U t t 7% 23% Consumer Discretionary 11,911 22.8% 101.0% Health Care 5,622 10.7% 96.9% 8% 0 0 Communications 5,421 10.4% 68.4% 155 166 177 188 199 200 001 001 001 001 001 002 22 22 22 22 22 22 11 11 11 11 11 11 Technology 5,381 10.3% -33.5% QQ QQ QQ QQ QQ QQ 10% Industrials 4,020 7.7% -12.5% Quarters Materials 3,682 7.0% 39.8% 23% 10% Consumer Staples 3,619 6.9% 48.1% Japan Equity & Equity Linked 11% Energy 610 1.2% -72.6% Deal Count Add'l IPO
Rights
3,000 90 D D
2,000 e e
n n 2,000 a a l l l l B B
50 C C D D o o u u S S n n U U t t
0 0 155 166 177 188 199 200 001 001 001 001 001 002 22 22 22 22 22 22 11 11 11 11 11 11 QQ QQ QQ QQ QQ QQ
Quarters
Bloomberg League Table Reports Page 14 Bloomberg Preliminary Global Equity | Q1 2020
Asia ex-Japan Equity, Equity Linked & Rights Asia ex-Japan Equity, EQL & Rights ex-CH A Shares Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 10.387 4,624 25 6 5.642 4.745 Morgan Stanley 1 18.495 4,182 15 1 17.870 0.625 Morgan Stanley 2 9.606 4,276 16 3 7.791 1.815 Citi 2 8.258 1,867 10 5 4.961 3.297 CITIC Securities 3 9.030 4,020 16 1 9.116 -0.086 Goldman Sachs 3 6.885 1,557 10 2 11.629 -4.744 China Securities 4 9.028 4,019 10 4 7.026 2.002 HSBC 4 6.622 1,497 13 3 5.864 0.758 Citi 5 4.499 2,003 12 8 4.656 -0.157 JP Morgan 5 6.351 1,436 10 7 3.216 3.135 Guotai Junan Securities 6 3.602 1,603 14 10 2.714 0.888 BofA Securities 6 5.981 1,352 9 4 5.469 0.512 Goldman Sachs 7 3.498 1,557 10 2 8.605 -5.107 Credit Suisse 7 5.801 1,312 9 6 3.931 1.870 HSBC 8 3.364 1,497 13 11 2.556 0.808 UBS 8 4.207 951 7 9 2.373 1.834 Industrial Securities 9 3.268 1,455 12 73 0.093 3.175 China International Capital Corp 9 3.277 741 14 12 2.083 1.194 JP Morgan 10 3.227 1,436 10 17 1.402 1.825 Axis Bank Ltd 10 2.816 637 4 18 1.326 1.490 BofA Securities 11 3.038 1,352 9 12 2.384 0.654 Haitong Securities 11 2.084 471 15 32 0.679 1.405 Credit Suisse 12 2.947 1,312 9 14 1.714 1.233 BNP Paribas 12 1.858 420 2 10 2.194 -0.336 UBS 13 2.137 951 7 7 4.744 -2.607 Kotak Mahindra Bank Ltd 13 1.695 383 3 8 3.076 -1.381 Sinolink Securities 14 1.936 862 6 57 0.186 1.750 Bangkok Bank PCL 14 1.681 380 1 - - 1.681 China Merchants Securities 15 1.564 696 6 13 2.192 -0.628 Kasikornbank PCL 14 1.681 380 1 62 0.160 1.521 Huatai Securities 16 1.510 672 5 15 1.695 -0.185 Phatra Securities PCL 14 1.681 380 1 - - 1.681 Axis Bank Ltd 17 1.430 637 4 34 0.578 0.852 China Merchants Bank 17 1.142 258 8 47 0.268 0.874 Everbright Securities 18 1.082 482 9 37 0.515 0.567 HDFC Bank 18 1.120 253 1 - - 1.120 Haitong Securities 19 1.059 471 15 33 0.584 0.475 Nomura 19 1.029 233 1 66 0.138 0.891 GF Securities 20 0.994 443 7 21 1.165 -0.171 CITIC Securities 20 0.983 222 2 23 1.056 -0.073 TOTAL 100% 44,515 320 100% TOTAL 100% 22,613 220 100%
Asia ex-Japan Equity & Equity Linked Asia ex-Japan Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 10.793 4,624 25 6 5.707 5.086 China International Capital Corp 1 7.829 704 3 5 7.751 0.078 Morgan Stanley 2 9.982 4,276 16 3 7.880 2.102 Citi 2 7.827 704 3 6 7.156 0.671 China Securities 3 9.231 3,954 9 4 7.107 2.124 Huatai Securities 3 6.731 606 3 8 4.216 2.515 CITIC Securities 4 9.093 3,895 15 1 9.221 -0.128 Morgan Stanley 4 5.405 486 2 18 1.297 4.108 Citi 5 4.675 2,003 12 8 4.710 -0.035 Credit Suisse 5 4.612 415 3 12 2.233 2.379 Goldman Sachs 6 3.635 1,557 10 2 8.704 -5.069 CITIC Securities 6 4.598 414 3 1 11.324 -6.726 HSBC 7 3.457 1,481 12 11 2.586 0.871 JP Morgan 7 4.367 393 3 15 1.976 2.391 JP Morgan 8 3.353 1,436 10 17 1.418 1.935 Shenwan Hongyuan Group 8 4.198 378 2 10 2.307 1.891 BofA Securities 9 3.157 1,352 9 12 2.412 0.745 BofA Securities 9 4.127 371 1 20 1.211 2.916 Credit Suisse 10 3.062 1,312 9 14 1.733 1.329 Goldman Sachs 10 3.700 333 2 3 9.526 -5.826 Guotai Junan Securities 11 3.034 1,300 12 10 2.746 0.288 UBS 11 3.515 316 2 7 6.166 -2.651 UBS 12 2.221 951 7 7 4.798 -2.577 China Merchants Securities 12 3.447 310 2 11 2.295 1.152 Sinolink Securities 13 2.011 862 6 57 0.188 1.823 Dongya Qianhai Securities Co Ltd 13 3.132 282 1 - - 3.132 China Merchants Securities 14 1.625 696 6 13 2.081 -0.456 Bank of China 14 2.611 235 1 2 9.850 -7.239 Huatai Securities 15 1.569 672 5 15 1.714 -0.145 HSBC 15 2.515 226 2 16 1.728 0.787 Axis Bank Ltd 16 1.486 637 4 34 0.585 0.901 Ping An Insurance Group 16 2.385 215 2 - - 2.385 Everbright Securities 17 1.125 482 9 43 0.369 0.756 Guotai Junan Securities 17 2.306 207 2 - - 2.306 Haitong Securities 18 1.100 471 15 33 0.590 0.510 China Securities 18 2.269 204 3 4 8.853 -6.584 GF Securities 19 1.033 443 7 24 0.835 0.198 Guosen Securities 19 1.927 173 1 - - 1.927 BNP Paribas 20 0.981 420 2 21 0.967 0.014 China Minzu Securities 20 1.901 171 1 33 0.370 1.531 TOTAL 100% 42,838 307 100% TOTAL 100% 8,998 64 100%
Bloomberg League Table Reports Page 15 Bloomberg Preliminary Global Equity | Q1 2020
Asia ex-Japan Equity Linked ex-China Exchanges Asia ex-Japan Equity Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Citi 1 16.048 704 3 4 9.397 6.651 China International Capital Corp 1 11.035 3,919 22 6 4.276 6.759 Morgan Stanley 2 11.082 486 2 5 7.276 3.806 China Securities 2 10.740 3,815 7 4 5.843 4.897 Credit Suisse 3 9.456 415 3 1 12.528 -3.072 Morgan Stanley 3 10.670 3,790 14 1 11.996 -1.326 JP Morgan 4 8.954 393 3 2 11.087 -2.133 CITIC Securities 4 10.153 3,606 13 3 7.686 2.467 BofA Securities 5 8.461 371 1 6 6.798 1.663 Guotai Junan Securities 5 3.931 1,396 12 5 4.472 -0.541 Goldman Sachs 6 7.587 333 2 12 2.982 4.605 Industrial Securities 6 3.681 1,307 9 64 0.153 3.528 UBS 7 7.207 316 2 12 2.982 4.225 Citi 7 3.655 1,298 9 12 3.038 0.617 HSBC 8 5.156 226 2 3 9.695 -4.539 HSBC 8 3.579 1,271 11 11 3.093 0.486 China International Capital Corp 9 3.988 175 2 - - 3.988 Goldman Sachs 9 3.446 1,224 8 2 8.009 -4.563 Barclays 10 3.798 167 1 - - 3.798 JP Morgan 10 2.938 1,043 7 20 1.030 1.908 BNP Paribas 10 3.798 167 1 8 6.415 -2.617 BofA Securities 11 2.762 981 8 10 3.144 -0.382 DBS Group 10 3.798 167 1 10 4.294 -0.496 Credit Suisse 12 2.525 897 6 16 1.378 1.147 KGI Securities 13 3.336 146 4 9 4.674 -1.338 Sinolink Securities 13 2.230 792 4 51 0.307 1.923 Haitong Securities 14 2.620 115 1 - - 2.620 Axis Bank Ltd 14 1.793 637 4 23 0.952 0.841 Horizon Securities Co Ltd 15 0.911 40 1 - - 0.911 UBS 15 1.788 635 5 7 3.823 -2.035 Waterland Securities Co Ltd 16 0.903 40 3 20 0.465 0.438 Everbright Securities 16 1.357 482 9 26 0.848 0.509 Fubon Securities 17 0.759 33 1 18 0.928 -0.169 GF Securities 17 1.246 443 7 18 1.194 0.052 Capital Securities Corp 18 0.379 17 1 22 0.360 0.019 China Merchants Securities 18 1.087 386 4 14 2.125 -1.038 First Securities Inc 19 0.228 10 1 - - 0.228 Kotak Mahindra Bank Ltd 19 1.079 383 3 13 2.210 -1.131 Grand Fortune Securities Co 19 0.228 10 1 - - 0.228 Bangkok Bank PCL 20 1.070 380 1 - - 1.070 TOTAL 100% 4,389 31 100% TOTAL 100% 35,517 256 100%
Asia ex-Japan Equity IPO Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 18.526 3,301 16 11 2.712 15.814 CITIC Securities 2 13.257 2,362 4 1 9.471 3.786 China Securities 3 11.747 2,093 5 16 2.044 9.703 Sinolink Securities 4 4.445 792 4 30 1.129 3.316 Credit Suisse 5 3.924 699 3 52 0.405 3.519 Morgan Stanley 6 2.929 522 3 4 3.712 -0.783 UBS 7 2.642 471 3 6 3.131 -0.489 GF Securities 8 2.484 443 7 24 1.377 1.107 Everbright Securities 9 2.289 408 8 21 1.806 0.483 Bangkok Bank PCL 10 2.133 380 1 - - 2.133 Kasikornbank PCL 10 2.133 380 1 51 0.422 1.711 Phatra Securities PCL 10 2.133 380 1 - - 2.133 Guotai Junan Securities 13 1.843 328 8 25 1.329 0.514 China Merchants Bank 14 1.351 241 6 39 0.709 0.642 Axis Bank Ltd 15 1.305 233 1 31 1.035 0.270 BofA Securities 15 1.305 233 1 57 0.241 1.064 HSBC 15 1.305 233 1 - - 1.305 Kotak Mahindra Bank Ltd 15 1.305 233 1 - - 1.305 Nomura 15 1.305 233 1 54 0.365 0.940 China Merchants Securities 20 1.194 213 3 2 6.892 -5.698 TOTAL 100% 17,819 141 100%
Bloomberg League Table Reports Page 16 Bloomberg Preliminary Global Equity | Q1 2020
APAC Equity, Equity Linked & Rights APAC Equity & Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 9.341 4,624 25 7 4.960 4.381 China International Capital Corp 1 9.672 4,624 25 7 5.037 4.635 Morgan Stanley 2 9.075 4,492 20 3 7.632 1.443 Morgan Stanley 2 9.397 4,492 20 3 7.749 1.648 CITIC Securities 3 8.121 4,020 16 1 8.014 0.107 China Securities 3 8.272 3,954 9 4 6.272 2.000 China Securities 4 8.119 4,019 10 4 6.177 1.942 CITIC Securities 4 8.148 3,895 15 1 8.137 0.011 Goldman Sachs 5 4.291 2,124 13 2 7.648 -3.357 Goldman Sachs 5 4.444 2,124 13 2 7.766 -3.322 Citi 6 4.045 2,003 12 8 4.890 -0.845 Citi 6 4.189 2,003 12 8 4.780 -0.591 Guotai Junan Securities 7 3.239 1,603 14 11 2.386 0.853 JP Morgan 7 3.168 1,514 13 16 1.580 1.588 JP Morgan 8 3.060 1,514 13 16 1.556 1.504 HSBC 8 3.098 1,481 12 13 2.282 0.816 HSBC 9 3.025 1,497 13 13 2.247 0.778 BofA Securities 9 3.071 1,468 11 12 2.328 0.743 BofA Securities 10 2.966 1,468 11 12 2.293 0.673 UBS 10 3.031 1,449 11 5 6.189 -3.158 Industrial Securities 11 2.939 1,455 12 81 0.082 2.857 Credit Suisse 11 3.000 1,434 12 14 2.160 0.840 UBS 12 2.928 1,449 11 5 6.095 -3.167 Guotai Junan Securities 12 2.718 1,300 12 11 2.423 0.295 Credit Suisse 13 2.897 1,434 12 14 2.127 0.770 Sinolink Securities 13 1.802 862 6 61 0.166 1.636 Sinolink Securities 14 1.741 862 6 62 0.164 1.577 Sumitomo Mitsui Financial 14 1.642 785 19 22 1.123 0.519 Sumitomo Mitsui Financial 15 1.586 785 19 22 1.106 0.480 Nomura 15 1.511 722 12 9 3.211 -1.700 Nomura 16 1.459 722 12 9 3.163 -1.704 China Merchants Securities 16 1.457 696 6 15 1.836 -0.379 China Merchants Securities 17 1.407 696 6 15 1.927 -0.520 Huatai Securities 17 1.406 672 5 17 1.513 -0.107 Huatai Securities 18 1.358 672 5 17 1.490 -0.132 Axis Bank Ltd 18 1.332 637 4 38 0.516 0.816 Axis Bank Ltd 19 1.286 637 4 38 0.508 0.778 Mizuho Financial 19 1.313 628 19 26 0.758 0.555 Mizuho Financial 20 1.268 628 19 27 0.747 0.521 Everbright Securities 20 1.008 482 9 48 0.325 0.683 TOTAL 100% 49,501 462 100% TOTAL 100% 47,806 446 100%
APAC Equity Offerings APAC Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 10.386 4,006 18 1 11.342 -0.956 China International Capital Corp 1 7.629 704 3 5 7.621 0.008 China International Capital Corp 2 10.161 3,919 22 8 3.602 6.559 Citi 2 7.627 704 3 6 7.596 0.031 China Securities 3 9.723 3,750 6 6 4.922 4.801 Huatai Securities 3 6.558 606 3 8 4.145 2.413 CITIC Securities 4 9.026 3,481 12 3 6.475 2.551 Credit Suisse 4 5.478 506 5 13 2.195 3.283 Goldman Sachs 5 4.644 1,791 11 2 6.878 -2.234 Morgan Stanley 5 5.267 486 2 19 1.275 3.992 Citi 6 3.366 1,298 9 9 3.218 0.148 CITIC Securities 6 4.480 414 3 1 11.133 -6.653 HSBC 7 3.253 1,255 10 13 2.605 0.648 JP Morgan 7 4.255 393 3 10 2.502 1.753 UBS 8 2.937 1,133 9 4 6.259 -3.322 Shenwan Hongyuan Group 8 4.090 378 2 11 2.268 1.822 JP Morgan 9 2.908 1,122 10 21 1.069 1.839 BofA Securities 9 4.021 371 1 16 1.750 2.271 BofA Securities 10 2.843 1,097 10 12 2.648 0.195 Goldman Sachs 10 3.606 333 2 3 9.366 -5.760 Guotai Junan Securities 11 2.831 1,092 10 7 3.767 -0.936 UBS 11 3.425 316 2 7 6.062 -2.637 Credit Suisse 12 2.406 928 7 14 2.140 0.266 China Merchants Securities 12 3.359 310 2 12 2.256 1.103 Sinolink Securities 13 2.053 792 4 55 0.258 1.795 Dongya Qianhai Securities Co Ltd 13 3.052 282 1 - - 3.052 Sumitomo Mitsui Financial 14 2.035 785 19 16 1.746 0.289 Bank of China 14 2.545 235 1 2 9.685 -7.140 Nomura 15 1.872 722 12 5 4.993 -3.121 HSBC 15 2.451 226 2 17 1.699 0.752 Axis Bank Ltd 16 1.651 637 4 25 0.802 0.849 Ping An Insurance Group 16 2.324 215 2 - - 2.324 Mizuho Financial 17 1.250 482 16 19 1.179 0.071 Guotai Junan Securities 17 2.247 207 2 - - 2.247 Everbright Securities 18 1.249 482 9 41 0.506 0.743 China Securities 18 2.211 204 3 4 8.704 -6.493 GF Securities 19 1.147 443 7 39 0.535 0.612 Guosen Securities 19 1.878 173 1 - - 1.878 Daiwa Securities 20 1.099 424 8 17 1.685 -0.586 China Minzu Securities 20 1.853 171 1 33 0.364 1.489 TOTAL 100% 38,571 379 100% TOTAL 100% 9,234 67 100%
Bloomberg League Table Reports Page 17 Bloomberg Preliminary Global Equity | Q1 2020
APAC ex-Japan Equity, Equity Linked & Rights APAC ex-Japan Equity & Equity Linked Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 9.907 4,624 25 7 5.378 4.529 China International Capital Corp 1 10.280 4,624 25 7 5.467 4.813 Morgan Stanley 2 9.162 4,276 16 3 7.425 1.737 Morgan Stanley 2 9.507 4,276 16 3 7.549 1.958 CITIC Securities 3 8.613 4,020 16 1 8.689 -0.076 China Securities 3 8.792 3,954 9 4 6.808 1.984 China Securities 4 8.610 4,019 10 4 6.697 1.913 CITIC Securities 4 8.660 3,895 15 1 8.833 -0.173 Goldman Sachs 5 4.399 2,053 12 2 8.202 -3.803 Goldman Sachs 5 4.564 2,053 12 2 8.338 -3.774 Citi 6 4.291 2,003 12 8 5.301 -1.010 Citi 6 4.452 2,003 12 8 5.189 -0.737 Guotai Junan Securities 7 3.436 1,603 14 10 2.587 0.849 JP Morgan 7 3.367 1,514 13 15 1.715 1.652 JP Morgan 8 3.245 1,514 13 15 1.687 1.558 HSBC 8 3.293 1,481 12 12 2.477 0.816 HSBC 9 3.208 1,497 13 12 2.437 0.771 UBS 9 3.222 1,449 11 5 6.402 -3.180 Industrial Securities 10 3.117 1,455 12 77 0.088 3.029 BofA Securities 10 3.201 1,440 10 11 2.527 0.674 UBS 11 3.105 1,449 11 5 6.297 -3.192 Credit Suisse 11 2.917 1,312 9 14 1.772 1.145 BofA Securities 12 3.085 1,440 10 11 2.486 0.599 Guotai Junan Securities 12 2.889 1,300 12 10 2.630 0.259 Credit Suisse 13 2.811 1,312 9 14 1.743 1.068 Sinolink Securities 13 1.916 862 6 57 0.180 1.736 Sinolink Securities 14 1.846 862 6 58 0.177 1.669 China Merchants Securities 14 1.548 696 6 13 1.993 -0.445 China Merchants Securities 15 1.492 696 6 13 2.089 -0.597 Huatai Securities 15 1.494 672 5 16 1.642 -0.148 Huatai Securities 16 1.440 672 5 16 1.615 -0.175 Axis Bank Ltd 16 1.416 637 4 34 0.560 0.856 Axis Bank Ltd 17 1.364 637 4 34 0.551 0.813 Everbright Securities 17 1.071 482 9 44 0.353 0.718 Everbright Securities 18 1.032 482 9 37 0.491 0.541 Haitong Securities 18 1.048 471 15 33 0.566 0.482 Haitong Securities 19 1.010 471 15 33 0.556 0.454 GF Securities 19 0.984 443 7 25 0.800 0.184 GF Securities 20 0.948 443 7 21 1.111 -0.163 BNP Paribas 20 0.934 420 2 21 0.927 0.007 TOTAL 100% 46,673 406 100% TOTAL 100% 44,978 390 100%
APAC ex-Japan Equity Offerings APAC ex-Japan Equity IPO Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 10.893 3,919 22 7 4.105 6.788 China International Capital Corp 1 18.485 3,301 16 11 2.700 15.785 Morgan Stanley 2 10.533 3,790 14 1 11.516 -0.983 CITIC Securities 2 13.227 2,362 4 1 9.427 3.800 China Securities 3 10.423 3,750 6 5 5.610 4.813 China Securities 3 11.721 2,093 5 16 2.034 9.687 CITIC Securities 4 9.676 3,481 12 3 7.379 2.297 Sinolink Securities 4 4.435 792 4 30 1.124 3.311 Goldman Sachs 5 4.780 1,720 10 2 7.689 -2.909 Credit Suisse 5 3.916 699 3 52 0.404 3.512 Citi 6 3.608 1,298 9 8 3.667 -0.059 Morgan Stanley 6 2.923 522 3 4 3.695 -0.772 HSBC 7 3.487 1,255 10 12 2.969 0.518 UBS 7 2.636 471 3 6 3.116 -0.480 UBS 8 3.149 1,133 9 4 6.616 -3.467 GF Securities 8 2.478 443 7 24 1.371 1.107 JP Morgan 9 3.117 1,122 10 17 1.218 1.899 Everbright Securities 9 2.284 408 8 21 1.798 0.486 Guotai Junan Securities 10 3.035 1,092 10 6 4.293 -1.258 Bangkok Bank PCL 10 2.128 380 1 - - 2.128 BofA Securities 11 2.970 1,068 9 11 3.018 -0.048 Kasikornbank PCL 10 2.128 380 1 51 0.420 1.708 Credit Suisse 12 2.493 897 6 15 1.505 0.988 Phatra Securities PCL 10 2.128 380 1 - - 2.128 Sinolink Securities 13 2.201 792 4 51 0.294 1.907 Guotai Junan Securities 13 1.839 328 8 25 1.322 0.517 Axis Bank Ltd 14 1.770 637 4 21 0.914 0.856 China Merchants Bank 14 1.348 241 6 39 0.705 0.643 Everbright Securities 15 1.339 482 9 37 0.576 0.763 Axis Bank Ltd 15 1.303 233 1 31 1.030 0.273 GF Securities 16 1.230 443 7 35 0.609 0.621 BofA Securities 15 1.303 233 1 57 0.240 1.063 China Merchants Securities 17 1.073 386 4 14 1.827 -0.754 HSBC 15 1.303 233 1 - - 1.303 Kotak Mahindra Bank Ltd 18 1.065 383 3 13 2.121 -1.056 Kotak Mahindra Bank Ltd 15 1.303 233 1 - - 1.303 Bangkok Bank PCL 19 1.056 380 1 - - 1.056 Nomura 15 1.303 233 1 54 0.363 0.940 Kasikornbank PCL 19 1.056 380 1 75 0.110 0.946 China Merchants Securities 20 1.191 213 3 2 6.860 -5.669 TOTAL 100% 35,980 326 100% TOTAL 100% 17,859 148 100%
Bloomberg League Table Reports Page 18 Bloomberg Preliminary Global Equity | Q1 2020
APAC ex-Japan Equity Linked APAC ex-Japan Equity, EQL & Rights ex-CH A Shrs Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 7.394 704 3 5 7.621 -0.227 Morgan Stanley 1 16.883 4,182 15 1 16.059 0.824 Citi 2 7.392 704 3 6 7.596 -0.204 Goldman Sachs 2 8.288 2,053 12 2 10.451 -2.163 Huatai Securities 3 6.357 606 3 8 4.145 2.212 Citi 3 7.538 1,867 10 3 6.324 1.214 Tibet Eastmoney Securities Co Ltd 4 5.557 529 1 - - 5.557 JP Morgan 4 6.114 1,514 13 8 3.649 2.465 Morgan Stanley 5 5.105 486 2 19 1.275 3.830 HSBC 5 6.045 1,497 13 6 5.269 0.776 Credit Suisse 6 4.356 415 3 13 2.195 2.161 UBS 6 5.850 1,449 11 4 5.973 -0.123 CITIC Securities 7 4.342 414 3 1 11.133 -6.791 BofA Securities 7 5.812 1,440 10 5 5.376 0.436 JP Morgan 8 4.124 393 3 10 2.502 1.622 Credit Suisse 8 5.296 1,312 9 7 3.771 1.525 Shenwan Hongyuan Group 9 3.964 378 2 11 2.268 1.696 China International Capital Corp 9 2.991 741 14 12 1.872 1.119 BofA Securities 10 3.897 371 1 16 1.750 2.147 Axis Bank Ltd 10 2.570 637 4 19 1.192 1.378 Goldman Sachs 11 3.495 333 2 3 9.366 -5.871 Haitong Securities 11 1.903 471 15 32 0.611 1.292 UBS 12 3.320 316 2 7 6.062 -2.742 BNP Paribas 12 1.696 420 2 10 1.971 -0.275 China Merchants Securities 13 3.256 310 2 12 2.256 1.000 Kotak Mahindra Bank Ltd 13 1.548 383 3 9 2.765 -1.217 Dongya Qianhai Securities Co Ltd 14 2.958 282 1 - - 2.958 Bangkok Bank PCL 14 1.534 380 1 - - 1.534 Bank of China 15 2.466 235 1 2 9.685 -7.219 Kasikornbank PCL 14 1.534 380 1 68 0.143 1.391 HSBC 16 2.375 226 2 17 1.699 0.676 Phatra Securities PCL 14 1.534 380 1 - - 1.534 Ping An Insurance Group 17 2.253 215 2 - - 2.253 Macquarie 17 1.476 366 2 39 0.374 1.102 Guotai Junan Securities 18 2.178 207 2 - - 2.178 China Merchants Bank 18 1.043 258 8 50 0.241 0.802 China Securities 19 2.143 204 3 4 8.704 -6.561 HDFC Bank 19 1.023 253 1 - - 1.023 Guosen Securities 20 1.820 173 1 - - 1.820 Nomura 20 0.939 233 1 73 0.124 0.815 TOTAL 100% 9,527 64 100% TOTAL 100% 24,772 306 100%
Australia/New Zealand Mid-Market Equity & Rights Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Bell Potter Securities Ltd 1 22.107 123 6 1 12.562 9.545 Deutsche Bank 2 11.714 65 1 - - 11.714 Jarden Partners Ltd 2 11.714 65 1 - - 11.714 JP Morgan 4 8.171 45 2 5 8.616 -0.445 Canaccord Genuity 5 6.778 38 11 2 11.457 -4.679 Shaw & Partners Ltd 6 4.698 26 4 4 8.947 -4.249 RBC Capital Markets 7 4.092 23 1 6 5.232 -1.140 Argonaut Ltd 8 3.835 21 3 17 1.366 2.469 Euroz Securities 9 3.665 20 3 6 5.232 -1.567 PAC Partners Pty Ltd 10 3.523 20 6 20 1.199 2.324 Evans Dixon Ltd 11 2.902 16 2 - - 2.902 Peloton Capital Pty Ltd 12 2.081 12 5 - - 2.081 Hartleys Ltd 13 1.789 10 5 22 0.784 1.005 Morgans 14 1.502 8 2 9 3.686 -2.184 Ashanti Capital Ltd 15 1.500 8 2 - - 1.500 Baker Young Ltd 16 1.015 6 2 - - 1.015 Clarksons Platou Securities 17 0.736 4 1 - - 0.736 Everblu Capital Pty Ltd 18 0.666 4 1 21 0.817 -0.151 Allenby Capital Ltd 19 0.614 3 1 - - 0.614 BW Equities Pty Ltd 20 0.562 3 2 - - 0.562 TOTAL 100% 556 76 100%
Bloomberg League Table Reports Page 19 Bloomberg Preliminary Global Equity | Q1 2020
Australia/New Zealand Equity, EQL & Rights Australia/New Zealand Equity & Rights Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) UBS 1 23.065 498 4 1 37.888 -14.823 UBS 1 23.065 498 4 1 43.875 -20.810 Goldman Sachs 2 22.979 496 2 - - 22.979 Goldman Sachs 2 22.979 496 2 - - 22.979 Macquarie 3 16.250 351 1 6 3.691 12.559 Macquarie 3 16.250 351 1 4 4.274 11.976 Bell Potter Securities Ltd 4 5.697 123 6 7 3.062 2.635 Bell Potter Securities Ltd 4 5.697 123 6 5 3.545 2.152 BofA Securities 5 4.049 87 1 4 4.549 -0.500 BofA Securities 5 4.049 87 1 - - 4.049 Canaccord Genuity 6 4.015 87 12 11 1.761 2.254 Canaccord Genuity 6 4.015 87 12 10 2.040 1.975 JP Morgan 7 3.624 78 3 3 7.490 -3.866 JP Morgan 7 3.624 78 3 6 3.406 0.218 Deutsche Bank 8 3.019 65 1 13 1.617 1.402 Deutsche Bank 8 3.019 65 1 12 1.872 1.147 Jarden Partners Ltd 8 3.019 65 1 - - 3.019 Jarden Partners Ltd 8 3.019 65 1 - - 3.019 Joh Berenberg Gossler & Co KG 10 2.268 49 1 - - 2.268 Joh Berenberg Gossler & Co KG 10 2.268 49 1 - - 2.268 Euroz Securities 11 1.324 29 4 15 0.804 0.520 Euroz Securities 11 1.324 29 4 14 0.931 0.393 Moelis & Co 12 1.248 27 1 18 0.542 0.706 Moelis & Co 12 1.248 27 1 17 0.628 0.620 Shaw & Partners Ltd 13 1.211 26 4 14 1.375 -0.164 Shaw & Partners Ltd 13 1.211 26 4 13 1.593 -0.382 RBC Capital Markets 14 1.055 23 1 10 1.930 -0.875 RBC Capital Markets 14 1.055 23 1 9 2.235 -1.180 Argonaut Ltd 15 0.988 21 3 28 0.210 0.778 Argonaut Ltd 15 0.988 21 3 27 0.243 0.745 PAC Partners Pty Ltd 16 0.908 20 6 30 0.184 0.724 PAC Partners Pty Ltd 16 0.908 20 6 29 0.214 0.694 Evans Dixon Ltd 17 0.748 16 2 - - 0.748 Evans Dixon Ltd 17 0.748 16 2 - - 0.748 Peloton Capital Pty Ltd 18 0.672 14 6 - - 0.672 Peloton Capital Pty Ltd 18 0.672 14 6 - - 0.672 Hartleys Ltd 19 0.461 10 5 32 0.121 0.340 Hartleys Ltd 19 0.461 10 5 31 0.140 0.321 Morgans 20 0.387 8 2 12 1.692 -1.305 Morgans 20 0.387 8 2 11 1.960 -1.573 TOTAL 100% 2,158 86 100% TOTAL 100% 2,158 86 100%
China Equity, Equity Linked & Rights China Equity IPO Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (CNY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (CNY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China Securities 1 18.320 27,958 10 2 12.362 5.958 China International Capital Corp 1 27.181 20,951 8 9 3.443 23.738 China International Capital Corp 2 17.704 27,017 11 4 8.371 9.333 CITIC Securities 2 21.369 16,471 4 1 19.953 1.416 CITIC Securities 3 17.347 26,473 14 1 15.364 1.983 China Securities 3 18.905 14,571 5 8 3.899 15.006 Guotai Junan Securities 4 6.829 10,422 7 9 3.589 3.240 Sinolink Securities 4 7.107 5,478 4 15 2.657 4.450 Industrial Securities 5 6.540 9,980 8 - - 6.540 GF Securities 5 3.705 2,855 5 12 3.243 0.462 Sinolink Securities 6 3.910 5,966 6 30 0.333 3.577 Everbright Securities 6 3.560 2,744 5 - - 3.560 Huatai Securities 7 3.083 4,704 4 11 2.927 0.156 Guotai Junan Securities 7 2.111 1,627 2 - - 2.111 China Merchants Securities 8 2.877 4,391 4 10 3.478 -0.601 Western Securities 8 1.587 1,223 1 - - 1.587 Everbright Securities 9 2.132 3,254 6 26 0.382 1.750 Huaxi Securities 9 1.447 1,115 1 - - 1.447 GF Securities 10 1.871 2,855 5 15 2.067 -0.196 China Merchants Securities 10 1.327 1,022 1 2 12.937 -11.610 Shenwan Hongyuan Group 11 1.725 2,632 2 13 2.367 -0.642 Minsheng Securities 11 1.314 1,013 2 18 1.793 -0.479 Ping An Insurance Group 12 1.483 2,263 3 - - 1.483 Soochow Securities 12 1.314 1,013 1 - - 1.314 Minsheng Securities 13 1.473 2,249 4 7 5.189 -3.716 China Cinda Asset Management 13 1.204 928 1 - - 1.204 Dongya Qianhai Securities Co Ltd 14 1.311 2,000 1 - - 1.311 Industrial Securities 14 1.153 889 2 - - 1.153 Guosen Securities 15 1.198 1,829 2 22 0.698 0.500 Dongxing Securities 15 1.030 794 2 17 1.946 -0.916 Bank of China 16 1.068 1,630 1 3 10.662 -9.594 Ping An Insurance Group 16 0.986 760 1 - - 0.986 Huaxi Securities 17 1.025 1,565 2 - - 1.025 Morgan Stanley 17 0.850 655 1 - - 0.850 Zheshang Securities 18 0.967 1,475 3 27 0.371 0.596 Guosen Securities 18 0.816 629 1 14 2.701 -1.885 Western Securities 19 0.801 1,223 1 - - 0.801 Zheshang Securities 19 0.740 570 1 - - 0.740 Huachuang Securities 20 0.801 1,222 2 36 0.076 0.725 Chinalin Securities 20 0.617 475 1 - - 0.617 TOTAL 100% 152,607 100 100% TOTAL 100% 77,077 46 100%
Bloomberg League Table Reports Page 20 Bloomberg Preliminary Global Equity | Q1 2020
Hong Kong Equity & Rights Offerings Hong Kong Equity Offerings Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Morgan Stanley 1 39.277 2,736 9 1 17.268 22.009 Morgan Stanley 1 40.182 2,736 9 1 17.407 22.775 HSBC 2 8.770 611 6 3 14.241 -5.471 HSBC 2 8.730 594 5 3 14.355 -5.625 Goldman Sachs 3 6.511 454 4 2 16.258 -9.747 Goldman Sachs 3 6.661 454 4 2 16.388 -9.727 Citi 4 5.046 351 1 12 2.316 2.730 Citi 4 5.162 351 1 12 2.334 2.828 BofA Securities 5 4.317 301 2 36 0.319 3.998 BofA Securities 5 4.417 301 2 35 0.321 4.096 China International Capital Corp 6 4.125 287 7 15 1.633 2.492 China International Capital Corp 6 4.220 287 7 15 1.646 2.574 China Merchants Bank 7 3.709 258 8 19 0.937 2.772 China Merchants Bank 7 3.553 242 7 19 0.944 2.609 UBS 8 3.050 212 3 13 2.081 0.969 UBS 8 3.120 212 3 13 2.098 1.022 Haitong Securities 9 2.927 204 12 11 2.375 0.552 Haitong Securities 9 2.994 204 12 11 2.394 0.600 Jefferies 10 1.786 124 1 - - 1.786 Jefferies 10 1.827 124 1 - - 1.827 Guotai Junan Securities 11 1.579 110 7 4 5.774 -4.195 CITIC Securities 11 1.426 97 1 16 1.290 0.136 CITIC Securities 12 1.394 97 1 16 1.280 0.114 Guotai Junan Securities 12 1.399 95 6 4 5.820 -4.421 Bank of Communications 13 1.158 81 9 8 2.615 -1.457 Bank of Communications 13 1.184 81 9 7 2.636 -1.452 China Merchants Securities 14 0.924 64 2 14 1.782 -0.858 China Merchants Securities 14 0.946 64 2 14 1.796 -0.850 Shanghai Pudong Development Bank 15 0.892 62 5 48 0.208 0.684 Shanghai Pudong Development Bank 15 0.912 62 5 47 0.210 0.702 China Construction Bank 16 0.794 55 3 6 2.892 -2.098 China Construction Bank 16 0.813 55 3 8 2.611 -1.798 Get Nice Holdings Ltd 17 0.653 45 1 - - 0.653 China Galaxy Financial Holdings 17 0.568 39 3 23 0.662 -0.094 Zhongtai Securities 18 0.568 40 4 45 0.210 0.358 Industrial Securities 18 0.493 34 4 21 0.750 -0.257 China Galaxy Financial Holdings 19 0.555 39 3 23 0.657 -0.102 Credit Suisse 19 0.480 33 1 5 4.050 -3.570 Silk Road International Capital Ltd 20 0.487 34 3 35 0.347 0.140 GF Securities 20 0.479 33 2 - - 0.479 TOTAL 100% 6,965 76 100% TOTAL 100% 6,808 67 100%
India Equity & Rights Offering Indonesia Equity & Rights Offering Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (INR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (IDR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Axis Bank Ltd 1 14.258 46,009 4 5 7.984 6.274 UOB Kay Hian Pvt Ltd 1 37.282 467,805 5 3 3.651 33.631 BofA Securities 1 14.258 46,009 4 3 15.849 -1.591 Shinhan Financial Group Co Ltd 2 8.726 109,495 1 - - 8.726 HSBC 1 14.258 46,009 4 - - 14.258 Mirae Asset Daewoo Co Ltd 3 8.713 109,333 1 - - 8.713 JP Morgan 4 11.174 36,059 4 - - 11.174 Royal Investium Sekuritas PT 3 8.713 109,333 1 - - 8.713 Kotak Mahindra Bank Ltd 5 8.680 28,009 3 2 18.600 -9.920 Jasa Utama Capital PT 5 7.770 97,500 2 2 9.836 -2.066 BNP Paribas 6 5.578 18,000 1 - - 5.578 BCA Sekuritas PT 6 7.555 94,800 1 - - 7.555 Citi 6 5.578 18,000 1 4 12.551 -6.973 Indo Premier Securities 7 7.292 91,500 1 - - 7.292 Goldman Sachs 6 5.578 18,000 1 - - 5.578 KGI Securities 8 5.128 64,350 1 - - 5.128 HDFC Bank 6 5.578 18,000 1 - - 5.578 NH Investment & Securities Co Ltd 9 4.851 60,870 2 - - 4.851 Nomura 10 5.348 17,258 1 - - 5.348 Investindo Nusantara Sekuritas PT 10 2.761 34,650 1 - - 2.761 JM Financial Ltd 11 3.416 11,023 3 8 2.749 0.667 Zico Holdings Inc 11 1.207 15,150 1 - - 1.207 IDFC Bank Ltd 12 3.332 10,751 2 - - 3.332 ------Elara Capital PLC 13 0.930 3,000 2 - - 0.930 ------State Bank of India 13 0.930 3,000 2 - - 0.930 ------Edelweiss Financial Services Ltd 15 0.516 1,667 1 7 3.863 -3.347 ------IDBI Bank Ltd 16 0.413 1,333 1 - - 0.413 ------Hem Securities Ltd 17 0.067 215 3 22 0.016 0.051 ------First Overseas Capital Ltd 18 0.040 129 2 - - 0.040 ------Beeline Broking Ltd 19 0.032 102 1 18 0.046 -0.014 ------Finshore Management Services Ltd 20 0.026 83 2 13 0.159 -0.133 ------TOTAL 100% 322,693 17 100% TOTAL 100% 1,254,786 14 100%
Bloomberg League Table Reports Page 21 Bloomberg Preliminary Global Equity | Q1 2020
Malaysia Equity & Rights Offering Singapore Equity & Rights Offering Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (MYR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) CIMB 1 52.591 224 2 1 42.916 9.675 UBS 1 16.987 105 2 2 24.006 -7.019 Mercury Securities Sdn Bhd 2 9.504 40 4 7 0.994 8.510 Credit Suisse 2 13.326 82 2 3 9.594 3.732 RHB 3 8.741 37 4 4 10.045 -1.304 UOB Kay Hian Pvt Ltd 3 11.560 71 4 9 0.456 11.104 M&A Securities Sdn Bhd 4 6.427 27 4 - - 6.427 China International Capital Corp 4 10.157 63 2 - - 10.157 Alliance Bank Malaysia Bhd 5 6.210 26 2 - - 6.210 Oversea-Chinese Banking Corp 4 10.157 63 2 - - 10.157 TA Securities Holdings Bhd 6 4.028 17 3 6 2.537 1.491 HSBC 6 10.078 62 1 3 9.594 0.484 UOB Kay Hian Pvt Ltd 7 3.517 15 2 9 0.383 3.134 United Overseas Bank 6 10.078 62 1 3 9.594 0.484 KAF Investment Bank Bhd 8 3.132 13 1 12 0.016 3.116 CIMB 8 6.909 43 1 7 2.063 4.846 Affin Hwang Capital 9 2.303 10 1 11 0.032 2.271 BofA Securities 9 3.248 20 1 - - 3.248 MIDF Amanah Investment Bank Bhd 10 1.963 8 1 10 0.170 1.793 DBS Group 9 3.248 20 1 1 41.167 -37.919 AmInvestment Bank Bhd 11 1.245 5 2 3 12.446 -11.201 Maybank 9 3.248 20 1 - - 3.248 SJ Securities Sdn Bhd 12 0.339 1 1 - - 0.339 PrimePartners Corporate Finance Pte Ltd 12 0.593 4 1 6 2.354 -1.761 ------SAC Capital Pte Ltd 13 0.233 1 1 8 0.718 -0.485 ------Zico Holdings Inc 14 0.178 1 1 - - 0.178 ------TOTAL 100% 426 27 100% TOTAL 100% 616 8 100%
Taiwan Equity & Equity Linked Thailand Equity & Rights Offering Q1 2020 Q1 2019 Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (TWD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (THB Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) KGI Securities 1 39.737 4,524 6 2 16.531 23.206 Bangkok Bank PCL 1 16.667 11,837 1 - - 16.667 Horizon Securities Co Ltd 2 10.540 1,200 1 - - 10.540 Credit Suisse 1 16.667 11,837 1 - - 16.667 Waterland Securities Co Ltd 2 10.540 1,200 3 10 2.139 8.401 Kasikornbank PCL 1 16.667 11,837 1 2 16.218 0.449 Fubon Securities 4 9.790 1,115 3 4 5.716 4.074 Morgan Stanley 1 16.667 11,837 1 - - 16.667 Capital Securities Corp 5 4.508 513 2 7 2.277 2.231 Phatra Securities PCL 1 16.667 11,837 1 - - 16.667 Taishin Financial Holding Co Ltd 6 3.188 363 5 9 2.204 0.984 UBS 1 16.667 11,837 1 - - 16.667 Grand Fortune Securities Co 7 3.016 343 2 5 4.547 -1.531 ------Cathay Securities Corp 8 2.635 300 1 - - 2.635 ------CTBC Financial Holding 8 2.635 300 1 3 6.831 -4.196 ------First Securities Inc 8 2.635 300 1 - - 2.635 ------Yuanta Securities 8 2.635 300 1 1 53.893 -51.258 ------SinoPac Financial Holdings 12 2.582 294 3 8 2.247 0.335 ------E.Sun Financial Holding Co Ltd 13 2.196 250 1 - - 2.196 ------Jih Sun Securities Co Ltd 14 1.074 122 1 11 0.652 0.422 ------Mega Financial Holding 15 0.660 75 1 13 0.289 0.371 ------Hua Nan Securities 16 0.526 60 1 - - 0.526 ------Taiwan Cooperative Securities Co Ltd 17 0.514 58 1 6 2.290 -1.776 ------President Securities 18 0.338 38 1 - - 0.338 ------Masterlink Securities 19 0.250 28 1 12 0.311 -0.061 ------TOTAL 100% 11,385 36 100% TOTAL 100% 71,022 1 100%
Bloomberg League Table Reports Page 22 Bloomberg Preliminary Global Equity | Q1 2020
South Korea Equity Offerings Q1 2020 Q1 2019
Firm Rank Mkt Share(%) Volume (KRW Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Eugene Investment & Securities Co Ltd 1 18.027 60,500 1 13 0.317 17.710 Shinhan Financial Group Co Ltd 1 18.027 60,500 1 - - 18.027 KB Financial Group Inc 3 17.390 58,359 3 10 2.339 15.051 Yuanta Securities 4 12.148 40,770 1 12 0.477 11.671 Mirae Asset Daewoo Co Ltd 5 8.796 29,520 1 4 11.194 -2.398 Samsung Securities Co Ltd 6 5.471 18,360 1 9 4.677 0.794 NH Investment & Securities Co Ltd 7 3.915 13,140 1 2 16.191 -12.276 SK Securities 8 3.278 11,000 1 - - 3.278 Korea Investment & Securities Co 9 3.233 10,850 1 11 0.581 2.652 Kyobo Securities 10 3.039 10,200 1 - - 3.039 Hana Financial Group Inc 11 2.682 9,000 1 6 7.278 -4.596 Shinyoung Securities Co Ltd 12 2.503 8,400 1 - - 2.503 CAPE Investment & Securities Co 13 1.490 5,000 1 - - 1.490 ------TOTAL 100% 335,599 14 100%
Bloomberg League Table Reports Page 23 Bloomberg Equity & Equity Linked - League Tables Criteria
General Guidelines
Credit is based on the total amount of the offering sold to the public, including exercised over-allotment. Full credit is awarded to sole book-running manager or split equally among joint book-running managers.
Equities
Equity market transactions: initial public offerings, additional offerings of common stocks, units, and depositary receipts (ADRs, GDRs, etc) and rights offerings.
Exclusions: Non-underwritten/best efforts, privately placed transactions, funds, self-led, preferred offerings, pre-negotiated offerings, certain lower hierarch titles, i.e. Jr Bookrunner. Note: Criteria may vary for some local and/or regional table.
Equities-Linked
Equity-linked transactions: convertible bonds, convertible preferred stock and exchangeable bonds. Only issues that mature and are callable/puttable in 12 months or longer are included. Make-whole calls, provisional calls, and provisional puts are exempt from this rule. Convertible bonds with attached warrants are included. These are defined as synthetic convertibles with the combination of a fixed income instrument and warrants which can be converted into shares. The embedded warrant can be detachable or non-detachable but the bond and the warrant must be sold as a unit, i.e. there cannot be separate book building for the warrant and the bond.
Exclusions: Redemption-linked instruments, reverse convertibles or similar instruments, synthetics convertibles, issues convertible into participation in an underlying fund or investment trust, pre-IPO convertible instruments, pre-negotiated offerings, certain lower hierarch titles, i.e. Jr Bookrunner.
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Bloomberg L.P. reserves the right of final decision concerning league eligibility and requires adequate documentation for the same. Bloomberg L.P. and its suppliers believe the information herein was obtained from reliable sources, but they do not guarantee its accuracy. Neither the information nor the opinion expressed constitutes a solicitation of the purchase or sale of securities or commodities. Due to the dynamic nature of the Professional Service product, League Table rankings may vary between the quarterly/year-end publications and data found on the Bloomberg Professional Service.