League Tables H1 2018 H1 2018 Manager Rankings Global Equity, Equity Linked & Rights

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League Tables H1 2018 H1 2018 Manager Rankings Global Equity, Equity Linked & Rights GLOBAL EQUITY CAPITAL MARKETS LEAGUE TABLES H1 2018 H1 2018 MANAGER RANKINGS GLOBAL EQUITY, EQUITY LINKED & RIGHTS Bloomberg’s global equity offerings database consists of nearly 87,000 deals (with approximately CONTENTS 43,000 IPOs and over 43,000 additional offerings), and coverage of more than 500 financial advisors and 500 legal advisors. 1. Global market review 2. US market review LEAG<GO> for a full range of league tables 3. Canada market review IPO<GO> for Bloomberg’s equity offerings product 4. Latin America market review 5. EMEA market review Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and 6. Asia market review data found on the Bloomberg Professional Service. 7. Table criteria DATA SUBMISSIONS AND QUERIES Contact Phone Email North America Irina Arefyeva +1 646 324 4663 [email protected] EMEA Karan Aswani +44 20 3525 4331 [email protected] Asia-Pacific Zhen Hao Toh +65 6499 2931 [email protected] © 2018 Bloomberg Finance L.P. All rights reserved. Bloomberg Global Equity | H1 2018 Global Equity, Equity Linked & Rights: Industry Breakdown Global Equity Review Financials 28% 13% H1 2018 credited Global Equity, Equity Linked & Rights volume decreased 0.37% to USD 376.1 Bln while deal count Technology 15% 5% 28% decreased 4.65% to 2,338 offerings year-on-year. Global Equity IPO volume increased 8.98% year-on-year to USD 99.2 Bln Health Care 14% while the deal count decreased 11.01% to 719. Global Equity Linked volume increased 30.96% year-on-year to USD 63.8 Bln 6% Consumer Discretionary 11% over 223 deals. 8% Goldman Sachs ranked as the top Global Equity, Equity Linked & Rights underwriter for H1 2018 with 9.93% market share. Industrials 8% The bank underwrote 198 deals over the period. Morgan Stanley and JP Morgan ranked second and third with 9.58% and 11% 15% Materials 6% 8.25% market share, respectively. 14% Energy 5% Others 13% Global Equity, Equity Linked & Rights: Highlights of H1 2018 Top Underwriter Issuer Industry Volume (USD Mln) Date Tencent Holdings Ltd Technology 9,807 03/23/2018 Goldman Sachs Bayer AG Health Care 6,992 06/19/2018 Number of deals 198 Siemens Healthineers AG Health Care 5,181 03/15/2018 Volume (USD Mln) 37,326 Hilton Worldwide Holdings Inc Consumer Discretionary 4,818 04/10/2018 Global Equity, Equity Linked & Rights: Industry Breakdown Avg Deal size (USD Mln) 188.5 Foxconn Industrial Internet Co Ltd Technology 4,232 05/23/2018 Market Summary Royal Bank of Scotland Group PLC Financials 3,355 06/05/2018 Industry Volume (USD Mln) % Of Total % YOY Change China National Petroleum Corp Energy 3,174 02/01/2018 Financials 114,203 28.3% -20.2% Number of deals 2,338 AXA Equitable Holdings Inc Financials 3,157 05/09/2018 Technology 61,898 15.3% 83.0% Volume (USD Mln) 376,059 Centene Corp Health Care 2,860 05/01/2018 Health Care 54,737 13.6% 49.1% Avg Deal size (USD Mln) 160.8 Renesas Electronics Corp Technology 2,721 04/18/2018 Consumer Discretionary 45,022 11.2% -4.9% Industrials 31,588 7.8% -17.4% Materials 23,487 5.8% -8.1% Energy 20,470 5.1% -40.5% Global Equity, Equity Linked & Rights: Quarterly Volume Communications 19,799 4.9% -8.8% Utilities 17,045 4.2% 9.7% Deal Count Rights Equity-Linked IPO Consumer Staples 14,114 3.5% -9.9% Add'l 400 1,800 1,500 300 Global Equity, Equity Linked & Rights: Offering Breakdown D D e e Offering Type Volume (USD Mln) % Of Total % YOY Change n n a a l l 1,000 l l B B C C D D 200 o o Additional Offerings 186,792 46.4% -5.2% u u S S n n U U t t IPO 104,045 25.9% 5.9% Equity-Linked 72,487 18.0% 27.2% 500 100 Rights Offerings 39,133 9.7% -31.3% 0 0 33 44 55 66 77 88 11 11 11 11 11 11 00 00 00 00 00 00 22 22 22 22 22 22 22 22 22 22 22 22 Q Q Q Q Q Q Quarters Bloomberg League Table Reports Page 1 Bloomberg Global Equity | H1 2018 Global Equity, Equity Linked & Rights Global Equity & Equity Linked H1 2018 H1 2017 H1 2018 H1 2017 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 9.925 37,326 198 3 7.351 2.574 Goldman Sachs 1 10.451 36,234 194 3 7.613 2.838 Morgan Stanley 2 9.583 36,037 221 2 7.894 1.689 Morgan Stanley 2 9.976 34,586 218 2 8.311 1.665 JP Morgan 3 8.250 31,023 214 1 8.421 -0.171 JP Morgan 3 8.411 29,160 207 1 8.703 -0.292 Citi 4 7.368 27,710 180 4 7.049 0.319 Citi 4 7.793 27,017 176 4 7.397 0.396 Bank of America Merrill Lynch 5 6.109 22,973 134 5 6.419 -0.310 Bank of America Merrill Lynch 5 6.495 22,517 131 5 6.577 -0.082 Credit Suisse 6 4.539 17,069 121 8 3.947 0.592 Credit Suisse 6 4.712 16,338 118 9 3.747 0.965 UBS 7 3.896 14,652 83 6 4.501 -0.605 UBS 7 3.830 13,277 79 6 4.292 -0.462 Barclays 8 3.719 13,986 98 7 4.062 -0.343 Deutsche Bank 8 3.675 12,743 96 8 3.782 -0.107 Deutsche Bank 9 3.642 13,698 101 9 3.799 -0.157 Barclays 9 3.495 12,117 90 7 4.151 -0.656 RBC Capital Markets 10 1.659 6,238 75 10 2.389 -0.730 RBC Capital Markets 10 1.786 6,193 75 10 2.497 -0.711 China International Capital Corp 11 1.646 6,188 15 27 0.570 1.076 China International Capital Corp 11 1.785 6,188 15 23 0.646 1.139 Wells Fargo 12 1.306 4,911 53 11 1.926 -0.620 Wells Fargo 12 1.416 4,911 53 11 2.182 -0.766 Jefferies 13 1.286 4,837 82 13 1.426 -0.140 Jefferies 13 1.395 4,837 82 13 1.464 -0.069 BNP Paribas 14 1.087 4,088 32 12 1.917 -0.830 BNP Paribas 14 1.042 3,614 28 12 1.590 -0.548 HSBC 15 1.079 4,057 29 15 1.182 -0.103 Nomura 15 1.029 3,569 61 15 1.118 -0.089 China Securities 16 1.047 3,937 17 45 0.365 0.682 Sumitomo Mitsui Financial 16 0.995 3,451 43 18 0.945 0.050 Sumitomo Mitsui Financial 17 1.011 3,801 44 19 0.834 0.177 China Securities 17 0.953 3,303 16 38 0.413 0.540 Societe Generale 18 0.990 3,723 27 14 1.352 -0.362 Societe Generale 18 0.943 3,270 24 17 1.016 -0.073 Nomura 19 0.947 3,560 60 17 0.986 -0.039 CITIC Securities 19 0.908 3,148 20 20 0.853 0.055 Mizuho Financial 20 0.895 3,364 40 18 0.906 -0.011 Mizuho Financial 20 0.870 3,015 39 16 1.027 -0.157 TOTAL 100% 376,059 2,338 100% TOTAL 100% 346,700 2,210 100% Global Equity Offerings Global Equity IPO H1 2018 H1 2017 H1 2018 H1 2017 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 10.118 28,621 176 1 8.065 2.053 Goldman Sachs 1 7.669 7,611 54 6 4.632 3.037 Goldman Sachs 2 9.590 27,128 153 4 7.544 2.046 Bank of America Merrill Lynch 2 7.034 6,980 53 7 2.922 4.112 Citi 3 8.588 24,295 155 2 7.870 0.718 Morgan Stanley 3 6.180 6,133 59 4 5.162 1.018 JP Morgan 4 8.042 22,751 165 3 7.622 0.420 Citi 4 5.982 5,937 50 1 7.309 -1.327 Bank of America Merrill Lynch 5 6.177 17,474 101 5 6.808 -0.631 JP Morgan 5 5.821 5,777 54 2 5.721 0.100 Credit Suisse 6 4.866 13,766 102 8 3.981 0.885 Credit Suisse 6 5.225 5,186 41 5 4.889 0.336 UBS 7 3.772 10,672 70 6 4.465 -0.693 China International Capital Corp 7 4.940 4,903 9 16 1.182 3.758 Deutsche Bank 8 3.559 10,069 81 9 3.703 -0.144 Deutsche Bank 8 4.230 4,198 31 3 5.274 -1.044 Barclays 9 3.506 9,917 74 7 4.214 -0.708 UBS 9 2.504 2,485 21 9 2.705 -0.201 China International Capital Corp 10 1.910 5,403 12 40 0.413 1.497 Barclays 10 1.832 1,818 21 8 2.828 -0.996 RBC Capital Markets 11 1.718 4,861 63 10 2.641 -0.923 RBC Capital Markets 11 1.746 1,732 19 10 1.976 -0.230 Jefferies 12 1.440 4,075 74 12 1.401 0.039 CITIC Securities 12 1.727 1,714 15 17 1.155 0.572 Wells Fargo 13 1.427 4,035 42 11 1.789 -0.362 BNP Paribas 13 1.605 1,593 11 23 0.966 0.639 Sumitomo Mitsui Financial 14 1.023 2,893 39 15 1.090 -0.067 Huatai Securities 14 1.422 1,411 10 57 0.339 1.083 Nomura 15 0.923 2,611 53 17 0.938 -0.015 China Securities 15 1.122 1,113 7 19 1.043 0.079 Mizuho Financial 16 0.875 2,474 34 18 0.901 -0.026 Jefferies 16 0.972 964 19 13 1.330 -0.358 Cowen & Co 17 0.874 2,472 49 33 0.499 0.375 Guotai Junan Securities 17 0.944 936 9 20 1.018 -0.074 Daiwa Securities 18 0.819 2,316 25 26 0.553 0.266 Joh Berenberg Gossler & Co KG 18 0.938 931 7 44 0.495 0.443 Joh Berenberg Gossler & Co KG 19 0.789 2,233 22 22 0.674 0.115 Nomura 19 0.868 862 15 14 1.313 -0.445 CITIC Securities 20 0.776 2,194 18 29 0.540 0.236 HSBC 20 0.865 859 7 43 0.502 0.363 TOTAL 100% 282,883 1,987 100% TOTAL 100% 99,243 719 100% Bloomberg League Table Reports Page 2 Bloomberg Global Equity | H1 2018 Global Equity Linked H1 2018 H1 2017 Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 14.269 9,106 41 3 8.016 6.253 JP Morgan 2 10.043 6,409 42 1 15.009 -4.966 Morgan Stanley 3 9.348 5,966 42 2 9.749 -0.401 Bank of America Merrill Lynch 4 7.903 5,044 30 4 5.230 2.673 Citi 5 4.266 2,722 21 5 4.631 -0.365 Deutsche Bank 6 4.190 2,674 15 7 4.243 -0.053 UBS 7 4.083 2,605 9 10 3.276 0.807 Credit Suisse 8 4.031 2,572 16 12 2.379 1.652 Barclays 9 3.447 2,200 16 9 3.785 -0.338 China Securities 10 3.377 2,155 8 42 0.245 3.132 BNP Paribas 11 2.470 1,576 12 8 4.088 -1.618 RBC Capital Markets 12 2.089 1,333 12 20 1.656 0.433 Societe Generale 13 1.792 1,144 8 13 2.364 -0.572 Nomura 14 1.501 958 8 14 2.165 -0.664 CITIC Securities 15 1.494 953 2 11 2.681 -1.187 Wells Fargo 16 1.372 875 11 6 4.476 -3.104 China International Capital Corp 17 1.231 786 3 16 2.002 -0.771 Jefferies 18 1.194 762 8 17 1.833 -0.639 Bank of China 19 1.142 729 2 35 0.466 0.676 HSBC 20 1.125 718 7 18 1.769 -0.644 TOTAL 100% 63,817 223 100% Bloomberg League Table Reports Page 3 Bloomberg Global Equity | H1 2018 US Equity & Equity Linked: Industry Breakdown US Equity Review 5% 3% Financials 22% H1 2018 credited US Equity & Equity Linked volume increased 3.94% to USD 130.1 Bln while deal count decreased 1.17% to 5% 22% 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