GLOBAL EQUITY CAPITAL MARKETS LEAGUE TABLES First 3Q 2018 Preliminary as of 20 September 2018 FIRST 3Q 2018 PRELIMINARY AS OF 20 SEPTEMBER 2018
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 500 financial advisors 1. Gl obal market review and 500 legal advisors. 2. US market review LEAG
3. kCanada mar et review IPO
5. aEMEA m rket 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. Ta ble criteria
DATA SUBMISSIONS AND QUERIES Contact Phone Email North America Irina Arefyeva +1 646 324 4663 [email protected]
EMEA Davide Ruggiero +44 20 3525 0253 [email protected]
Asia-Pacific Zhen Hao Toh +65 6499 2931 [email protected]
© 2018 Bloomberg Finance L.P. All rights reserved. Bloomberg Preliminary Global Equity | 1st 3Q 2018
Global Equity, Equity Linked & Rights: Industry Breakdown
Global Equity Review Financials 28% 11% 1st 3Q 2018 credited Global Equity, Equity Linked & Rights volume decreased 8.91% to USD 510.3 Bln while deal count Technology 15% 5% 28% decreased 8.86% to 3,259 offerings year-on-year. Global Equity IPO volume increased 6.87% year-on-year to USD 147.4 6% Health Care 14% Bln while the deal count decreased 15.72% to 1,019. Global Equity Linked volume increased 10.91% year-on-year to USD Consumer Discretionary 12% 81.6 Bln over 327 deals. 9% Morgan Stanley ranked as the top Global Equity, Equity Linked & Rights underwriter for 1st 3Q 2018 with 9.62% market Industrials 9% 15% share. The bank underwrote 299 deals over the period. Goldman Sachs and JP Morgan ranked second and third with 9.60% 12% Materials 6% and 8.50% market share, respectively. 14% Communications 5% Others 11% Global Equity, Equity Linked & Rights: Highlights of 1st 3Q 2018
Top Underwriter Issuer Industry Volume (USD Mln) Date Tencent Holdings Ltd Technology 9,807 03/23/2018 Morgan Stanley China Tower Corp Ltd Industrials 7,491 08/01/2018 Number of deals 299 Bayer AG Health Care 6,992 06/19/2018 Volume (USD Mln) 49,078 Xiaomi Corp Technology 5,431 06/29/2018 Global Equity, Equity Linked & Rights: Industry Breakdown Avg Deal size (USD Mln) 164.1 Siemens Healthineers AG Health Care 5,181 03/15/2018 Market Summary Hilton Worldwide Holdings Inc Consumer Discretionary 4,818 04/10/2018 Industry Volume (USD Mln) % Of Total % YOY Change Yahoo Japan Corp Communications 4,324 09/11/2018 Financials 152,897 28.1% -29.8% Number of deals 3,259 Foxconn Industrial Internet Co Ltd Technology 4,232 05/23/2018 Technology 79,444 14.6% 81.9% Volume (USD Mln) 510,290 Meituan Dianping Consumer Discretionary 4,222 09/13/2018 Health Care 74,632 13.7% 31.3% Avg Deal size (USD Mln) 156.6 Transurban Group Industrials 3,464 09/13/2018 Consumer Discretionary 66,356 12.2% -1.4% Industrials 50,840 9.3% -2.9% Materials 32,085 5.9% -12.7% Communications 27,506 5.0% -15.0% Global Equity, Equity Linked & Rights: Quarterly Volume Energy 25,042 4.6% -50.2% Utilities 20,144 3.7% -6.5%
Deal Count Rights Equity-Linked IPO Consumer Staples 15,659 2.9% -40.5%
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 248,340 45.7% -15.7% u u S S n n U U t t IPO 154,273 28.4% 5.7% Equity-Linked 91,089 16.8% 6.5% 500 100 Rights Offerings 49,579 9.1% -34.9%
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 33 33 33 33 33 33 Q Q Q Q Q Q
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Bloomberg League Table Reports Page 1 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Global Equity, Equity Linked & Rights Global Equity & Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 9.618 49,078 299 2 8.217 1.401 Goldman Sachs 1 10.037 47,339 257 3 7.389 2.648 Goldman Sachs 2 9.600 48,989 263 3 7.101 2.499 Morgan Stanley 2 9.832 46,370 293 2 8.632 1.200 JP Morgan 3 8.503 43,390 298 1 8.805 -0.302 JP Morgan 3 8.631 40,707 287 1 9.164 -0.533 Citi 4 7.211 36,797 251 4 6.886 0.325 Citi 4 7.563 35,670 246 4 7.175 0.388 Bank of America Merrill Lynch 5 6.130 31,281 190 5 6.278 -0.148 Bank of America Merrill Lynch 5 6.471 30,522 186 5 6.588 -0.117 Credit Suisse 6 4.343 22,162 167 6 4.429 -0.086 Credit Suisse 6 4.531 21,372 163 6 4.357 0.174 UBS 7 3.992 20,371 121 7 4.374 -0.382 UBS 7 3.705 17,476 110 7 4.246 -0.541 Deutsche Bank 8 3.350 17,095 135 9 3.716 -0.366 Deutsche Bank 8 3.379 15,935 126 9 3.689 -0.310 Barclays 9 3.177 16,213 127 8 4.000 -0.823 Barclays 9 3.041 14,344 119 8 4.102 -1.061 RBC Capital Markets 10 1.682 8,582 109 10 2.391 -0.709 RBC Capital Markets 10 1.810 8,538 109 10 2.459 -0.649 China International Capital Corp 11 1.610 8,216 29 22 0.662 0.948 China International Capital Corp 11 1.742 8,216 29 23 0.671 1.071 Jefferies 12 1.477 7,539 121 14 1.315 0.162 Jefferies 12 1.593 7,515 120 14 1.273 0.320 Wells Fargo 13 1.458 7,439 74 11 1.815 -0.357 Wells Fargo 13 1.577 7,439 74 11 1.960 -0.383 BNP Paribas 14 1.273 6,499 49 12 1.811 -0.538 Nomura 14 1.185 5,591 85 13 1.315 -0.130 Nomura 15 1.141 5,823 85 15 1.164 -0.023 BNP Paribas 15 1.161 5,475 42 12 1.480 -0.319 China Securities 16 1.123 5,731 30 35 0.409 0.714 China Securities 16 1.014 4,781 28 32 0.462 0.552 HSBC 17 1.093 5,579 42 13 1.366 -0.273 Sumitomo Mitsui Financial 17 0.979 4,617 62 19 0.803 0.176 Sumitomo Mitsui Financial 18 0.973 4,966 63 20 0.711 0.262 CITIC Securities 18 0.918 4,328 32 17 0.918 0.000 CITIC Securities 19 0.915 4,667 34 18 0.827 0.088 HSBC 19 0.846 3,992 37 16 0.985 -0.139 Mizuho Financial 20 0.840 4,286 66 19 0.752 0.088 Mizuho Financial 20 0.835 3,937 65 18 0.850 -0.015 TOTAL 100% 510,289 3,259 100% TOTAL 100% 471,647 3,085 100%
Global Equity Offerings Global Equity IPO 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 9.836 38,367 243 1 8.539 1.297 Goldman Sachs 1 6.681 9,846 74 6 3.777 2.904 Goldman Sachs 2 9.434 36,799 207 4 7.368 2.066 Bank of America Merrill Lynch 2 6.486 9,559 68 8 3.131 3.355 JP Morgan 3 8.187 31,937 229 2 8.085 0.102 Morgan Stanley 3 5.885 8,674 79 4 4.997 0.888 Citi 4 8.055 31,420 218 3 7.711 0.344 Citi 4 5.755 8,482 70 1 6.740 -0.985 Bank of America Merrill Lynch 5 6.045 23,579 147 5 6.599 -0.554 JP Morgan 5 5.199 7,662 71 2 6.133 -0.934 Credit Suisse 6 4.662 18,186 140 6 4.732 -0.070 Credit Suisse 6 4.621 6,811 53 3 5.483 -0.862 UBS 7 3.801 14,828 100 7 4.587 -0.786 China International Capital Corp 7 4.533 6,681 20 15 1.256 3.277 Deutsche Bank 8 3.337 13,016 108 9 3.416 -0.079 Deutsche Bank 8 4.216 6,213 45 5 4.261 -0.045 Barclays 9 3.040 11,860 100 8 4.107 -1.067 UBS 9 3.185 4,694 32 7 3.519 -0.334 China International Capital Corp 10 1.888 7,366 25 35 0.477 1.411 CITIC Securities 10 1.868 2,753 24 12 1.724 0.144 RBC Capital Markets 11 1.806 7,044 94 10 2.458 -0.652 BNP Paribas 11 1.796 2,647 17 24 0.919 0.877 Jefferies 12 1.658 6,466 109 12 1.257 0.401 China Merchants Securities 12 1.435 2,116 16 16 1.196 0.239 Wells Fargo 13 1.386 5,405 59 11 1.717 -0.331 Barclays 13 1.426 2,101 24 9 2.136 -0.710 Nomura 14 1.055 4,116 72 17 0.915 0.140 RBC Capital Markets 14 1.413 2,083 25 11 1.785 -0.372 Sumitomo Mitsui Financial 15 1.027 4,005 57 15 0.932 0.095 Huatai Securities 15 1.403 2,068 13 36 0.563 0.840 BNP Paribas 16 0.969 3,780 27 13 1.161 -0.192 China Merchants Bank 16 1.277 1,882 14 72 0.269 1.008 CITIC Securities 17 0.857 3,345 29 21 0.682 0.175 China Securities 17 1.262 1,860 15 17 1.162 0.100 Cowen & Co 18 0.856 3,340 63 31 0.519 0.337 HSBC 18 1.138 1,677 11 19 1.079 0.059 Mizuho Financial 19 0.826 3,222 57 19 0.780 0.046 Agricultural Bank of China 19 1.112 1,638 18 69 0.278 0.834 HSBC 20 0.779 3,038 26 16 0.915 -0.136 Jefferies 20 1.111 1,637 27 21 1.049 0.062 TOTAL 100% 390,074 2,758 100% TOTAL 100% 147,376 1,019 100%
Bloomberg League Table Reports Page 2 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Global Equity Linked 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Goldman Sachs 1 12.920 10,539 50 3 7.504 5.416 JP Morgan 2 10.751 8,770 58 1 15.273 -4.522 Morgan Stanley 3 9.811 8,003 50 2 9.159 0.652 Bank of America Merrill Lynch 4 8.511 6,943 39 4 6.526 1.985 Citi 5 5.210 4,250 28 6 4.144 1.066 Credit Suisse 6 3.906 3,187 23 14 2.234 1.672 Deutsche Bank 7 3.578 2,919 18 5 5.232 -1.654 China Securities 8 3.539 2,887 12 31 0.529 3.010 UBS 9 3.247 2,649 10 12 2.315 0.932 Barclays 10 3.046 2,485 19 7 4.072 -1.026 Wells Fargo 11 2.494 2,034 15 9 3.340 -0.846 BNP Paribas 12 2.079 1,696 15 10 3.287 -1.208 RBC Capital Markets 13 1.831 1,494 15 11 2.466 -0.635 Nomura 14 1.808 1,475 13 8 3.581 -1.773 Societe Generale 15 1.445 1,179 9 16 1.801 -0.356 Daiwa Securities 16 1.391 1,134 6 23 0.924 0.467 Jefferies 17 1.285 1,048 11 19 1.362 -0.077 CITIC Securities 18 1.206 983 3 13 2.250 -1.044 HSBC 19 1.169 954 11 18 1.380 -0.211 China International Capital Corp 20 1.042 850 4 17 1.770 -0.728 TOTAL 100% 81,573 327 100%
Bloomberg League Table Reports Page 3 Bloomberg Preliminary Global Equity | 1st 3Q 2018
US Equity & Equity Linked: Industry Breakdown
US Equity Review Financials 24% 12% 1st 3Q 2018 credited US Equity & Equity Linked volume increased 1.96% to USD 179.2 Bln while deal count decreased 24% Health Care 21% 6% 0.97% to 711 offerings year-on-year. US Equity IPO volume increased 14.19% year-on-year to USD 36.3 Bln while the deal Technology 18% count increased 11.20% to 139. US Equity Linked volume increased 21.64% year-on-year to USD 37.6 Bln over 103 deals. 7% Consumer Discretionary 12% Morgan Stanley ranked as the top US Equity & Equity Linked underwriter for 1st 3Q 2018 with 13.91% market share. The bank underwrote 161 deals over the period. Goldman Sachs and JP Morgan ranked second and third with 12.15% and 12% Utilities 7% 11.33% market share, respectively. 21% Industrials 6% 18% Others 12%
US Equity & Equity Linked: Highlights of 1st 3Q 2018
Top Underwriter Issuer Industry Volume (USD Mln) Date Hilton Worldwide Holdings Inc Consumer Discretionary 4,818 04/10/2018 Morgan Stanley AXA Equitable Holdings Inc Financials 3,157 05/09/2018 Number of deals 161 Centene Corp Health Care 2,860 05/01/2018 Volume (USD Mln) 24,924 Sempra Energy Utilities 2,500 01/04/2018 US Equity & Equity Linked: Industry Breakdown Avg Deal size (USD Mln) 154.8 First Data Corp Financials 1,748 08/13/2018 Market Summary Sempra Energy Utilities 1,725 01/05/2018 Industry Volume (USD Mln) % Of Total % YOY Change PPL Corp Utilities 1,708 05/08/2018 Financials 45,753 24.5% -15.9% Number of deals 711 Palo Alto Networks Inc Technology 1,693 07/10/2018 Health Care 38,518 20.6% 24.7% Volume (USD Mln) 179,206 Duke Energy Corp Utilities 1,596 03/06/2018 Technology 32,892 17.6% 64.4% Avg Deal size (USD Mln) 252.0 General Motors Co Consumer Discretionary 1,592 02/27/2018 Consumer Discretionary 21,867 11.7% 14.3% Utilities 13,722 7.3% 2030.1% Industrials 11,378 6.1% 33.1% Energy 8,639 4.6% -61.8% US Equity & Equity Linked: Quarterly Volume Communications 8,161 4.4% -44.6% Materials 3,155 1.7% -25.9%
Deal Count Equity-Linked Add'l IPO Consumer Staples 2,771 1.5% -56.7% 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 106,989 57.3% -6.4% U U 40 t t 40 Equity-Linked 41,058 22.0% 18.0% IPO 38,812 20.8% 19.6% 100 20
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 33 33 33 33 33 33 Q Q Q Q Q Q
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Bloomberg League Table Reports Page 4 Bloomberg Preliminary Global Equity | 1st 3Q 2018
US Equity & Equity Linked US Equity Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 13.908 24,924 161 3 10.711 3.197 Morgan Stanley 1 12.750 18,052 123 3 10.341 2.409 Goldman Sachs 2 12.154 21,780 147 2 10.866 1.288 Goldman Sachs 2 11.098 15,712 110 2 11.036 0.062 JP Morgan 3 11.329 20,303 180 1 11.966 -0.637 JP Morgan 3 10.613 15,025 142 1 11.471 -0.858 Bank of America Merrill Lynch 4 9.256 16,587 132 4 10.660 -1.404 Citi 4 9.143 12,945 103 5 9.133 0.010 Citi 5 8.460 15,161 117 5 8.522 -0.062 Bank of America Merrill Lynch 5 7.372 10,438 99 4 9.872 -2.500 Barclays 6 6.222 11,150 81 6 7.751 -1.529 Barclays 6 6.547 9,270 68 6 7.892 -1.345 Credit Suisse 7 4.913 8,804 82 7 6.357 -1.444 Credit Suisse 7 5.617 7,953 73 7 6.935 -1.318 Wells Fargo 8 4.074 7,301 69 8 5.189 -1.115 Deutsche Bank 8 4.157 5,885 50 9 4.113 0.044 Deutsche Bank 9 3.670 6,577 57 9 3.674 -0.004 RBC Capital Markets 9 3.781 5,352 60 10 3.219 0.562 RBC Capital Markets 10 3.638 6,520 69 10 3.227 0.411 Wells Fargo 10 3.720 5,267 54 8 4.647 -0.927 Jefferies 11 3.146 5,638 91 11 1.878 1.268 Jefferies 11 3.321 4,702 82 12 1.607 1.714 UBS 12 2.230 3,996 38 12 1.840 0.390 UBS 12 2.605 3,688 34 11 2.080 0.525 Cowen & Co 13 1.651 2,958 58 15 1.155 0.496 Cowen & Co 13 1.995 2,824 57 14 1.298 0.697 Leerink Partners LLC 14 1.295 2,321 40 16 0.937 0.358 Stifel 14 1.403 1,986 47 13 1.477 -0.074 Stifel 15 1.211 2,170 50 13 1.320 -0.109 Leerink Partners LLC 15 1.308 1,852 36 16 0.942 0.366 SunTrust Robinson Humphrey 16 1.096 1,964 23 17 0.830 0.266 SunTrust Robinson Humphrey 16 1.226 1,736 19 20 0.783 0.443 Cantor Fitzgerald 17 0.996 1,786 34 18 0.791 0.205 Cantor Fitzgerald 17 1.176 1,666 33 15 0.959 0.217 Evercore Partners Inc 18 0.805 1,444 23 32 0.321 0.484 Evercore Partners Inc 18 1.020 1,444 23 29 0.389 0.631 Piper Jaffray & Co 19 0.721 1,292 33 22 0.619 0.102 Piper Jaffray & Co 19 0.862 1,220 32 21 0.751 0.111 BMO Capital Markets 20 0.715 1,281 25 14 1.219 -0.504 BMO Capital Markets 20 0.811 1,148 23 17 0.927 -0.116 TOTAL 100% 179,206 711 100% TOTAL 100% 141,580 608 100%
US Equity IPO US Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) Bank of America Merrill Lynch 1 10.563 3,837 43 8 5.381 5.182 Morgan Stanley 1 18.265 6,872 38 3 12.448 5.817 Citi 2 8.734 3,173 26 5 8.621 0.113 Bank of America Merrill Lynch 2 16.344 6,149 33 1 14.362 1.982 Goldman Sachs 3 8.467 3,076 38 3 9.411 -0.944 Goldman Sachs 3 16.127 6,068 37 4 10.068 6.059 JP Morgan 4 7.873 2,860 38 2 10.701 -2.828 JP Morgan 4 14.026 5,277 38 2 14.292 -0.266 Morgan Stanley 5 7.717 2,803 35 6 7.825 -0.108 Citi 5 5.891 2,216 14 7 5.655 0.236 Credit Suisse 6 7.180 2,608 23 1 11.719 -4.539 Wells Fargo 6 5.406 2,034 15 5 7.731 -2.325 Deutsche Bank 7 6.027 2,189 18 4 9.254 -3.227 Barclays 7 4.997 1,880 13 6 7.088 -2.091 RBC Capital Markets 8 4.487 1,630 18 9 3.845 0.642 RBC Capital Markets 8 3.104 1,168 9 9 3.264 -0.160 Barclays 9 4.386 1,593 19 7 6.003 -1.617 Jefferies 9 2.487 936 9 10 3.152 -0.665 Jefferies 10 2.919 1,061 20 19 0.915 2.004 Credit Suisse 10 2.262 851 9 8 3.646 -1.384 Cowen & Co 11 2.243 815 18 12 1.728 0.515 Deutsche Bank 11 1.839 692 7 14 1.615 0.224 Cantor Fitzgerald 12 2.168 788 7 15 1.622 0.546 Leerink Partners LLC 12 1.248 470 4 18 0.917 0.331 UBS 13 2.094 760 12 16 1.393 0.701 Mizuho Financial 13 0.939 353 4 20 0.683 0.256 Wells Fargo 14 2.025 736 15 10 3.339 -1.314 US Bancorp 14 0.853 321 3 15 1.479 -0.626 Evercore Partners Inc 15 1.430 519 11 25 0.598 0.832 UBS 15 0.817 307 4 19 0.710 0.107 Leerink Partners LLC 16 1.347 489 12 33 0.268 1.079 SunTrust Robinson Humphrey 16 0.606 228 4 17 1.050 -0.444 Chardan Capital Markets LLC 17 1.284 466 3 39 0.144 1.140 BNP Paribas 17 0.532 200 3 13 1.928 -1.396 BMO Capital Markets 18 1.136 413 11 24 0.651 0.485 Credit Agricole CIB 17 0.532 200 3 29 0.200 0.332 Raymond James & Associates 19 1.090 396 10 29 0.446 0.644 Stifel 19 0.489 184 3 22 0.586 -0.097 BNP Paribas 20 0.957 348 2 22 0.698 0.259 JMP Group LLC 20 0.373 140 3 21 0.662 -0.289 TOTAL 100% 36,325 139 100% TOTAL 100% 37,626 103 100%
Bloomberg League Table Reports Page 5 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Canada Equity, Equity Linked & Preferred: Quarterly Volume
Deal Count Amount Canada Equity Review 20 180 1st 3Q 2018 credited Canada Equity, Equity Linked & Preferred volume decreased 35.73% to CAD 22.1 Bln while deal count 150 15
decreased 9.70% to 326 offerings year-on-year. Canada Equity IPO volume decreased 51.80% year-on-year to CAD 2.0 Bln D D e e n n a a l l l l
B B 100 while the deal count increased 56.00% to 78. Canada Equity Offerings volume decreased 38.30% year-on-year to CAD 17.6 C C
D D 10 o o u u A A n n
Bln over 293 deals. C C t t TD Securities ranked as the top Canada Equity, Equity Linked & Preferred underwriter for 1st 3Q 2018 with 15.54% market 50 5 50 share. The bank underwrote 38 deals over the period. BMO Capital Markets and RBC Capital Markets ranked second and
third with 10.37% and 9.23% market share, respectively. 0 0 133 144 155 166 177 188 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 QQ QQ QQ QQ QQ QQ
Quarters
Canada Equity, Equity Linked & Preferred Canada Equity, Equity Linked & Preferred: Industry Breakdown 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Financials 30% 11% TD Securities 1 15.540 3,432 38 2 15.634 -0.094 Consumer Discretionary 21% 5% BMO Capital Markets 2 10.367 2,290 35 3 13.982 -3.615 30% Materials 15% RBC Capital Markets 3 9.226 2,038 33 1 21.622 -12.396 5% CIBC 4 8.962 1,979 34 4 9.459 -0.497 Health Care 14% National Bank Financial Inc 5 6.085 1,344 31 7 4.909 1.176 14% Energy 5% Canaccord Genuity 6 5.814 1,284 64 8 2.700 3.114 Scotiabank 7 5.204 1,149 22 6 6.867 -1.663 Utilities 5% 21% 15% Credit Suisse 8 4.976 1,099 7 11 1.530 3.446 Others 11% Morgan Stanley 9 4.632 1,023 7 9 1.705 2.927 GMP Securities 10 2.873 635 25 10 1.553 1.320 TOTAL 100% 22,086 326 100%
Canada Equity & Equity Linked Canada Equity, Equity Linked & Preferred: Manager Rankings History
1st 3Q 2018 1st 3Q 2017 2018 2017 2016 25 Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%)
) 20
TD Securities 1 15.416 3,093 32 2 15.112 0.304 % (
e r
BMO Capital Markets 2 11.092 2,226 33 3 14.356 -3.264 a h S
CIBC 3 9.002 1,806 28 4 8.493 0.509 t e 10 k r
RBC Capital Markets 4 8.127 1,631 27 1 22.119 -13.992 a M Canaccord Genuity 5 6.391 1,282 63 8 2.969 3.422
National Bank Financial Inc 6 5.903 1,184 26 7 4.326 1.577 0 s s s c y e t t C n it Credit Suisse 7 5.477 1,099 7 11 1.682 3.795 ti e e IB I u ri rk rk l n u a a C ia e c c e M M n G Scotiabank 8 4.273 857 15 6 5.617 -1.344 S l l a rd ta ta n o D i i i c T p p F c a a k a Morgan Stanley 9 4.143 831 6 9 1.875 2.268 C C n n a a O C B M B l C B R a GMP Securities 10 3.155 633 24 10 1.708 1.447 n o ti a TOTAL 100% 20,065 315 100% N
Bloomberg League Table Reports Page 6 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Canada Equity Offerings Canada Equity IPO 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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(%) TD Securities 1 15.967 2,808 24 2 16.145 -0.178 BMO Capital Markets 1 22.447 440 5 3 8.252 14.195 BMO Capital Markets 2 9.781 1,720 26 3 12.820 -3.039 CIBC 2 11.826 232 4 7 3.405 8.421 CIBC 3 9.122 1,604 22 5 6.824 2.298 RBC Capital Markets 2 11.826 232 4 1 27.938 -16.112 RBC Capital Markets 4 7.062 1,242 21 1 21.416 -14.354 Canaccord Genuity 4 10.223 201 19 19 0.575 9.648 Credit Suisse 5 6.250 1,099 7 11 1.851 4.399 TD Securities 5 8.126 159 2 2 22.809 -14.683 Canaccord Genuity 6 5.767 1,014 61 8 2.802 2.965 Pacific International Securities Inc 6 4.158 82 12 31 0.041 4.117 National Bank Financial Inc 7 5.506 968 18 7 4.433 1.073 Leucadia National Corp 7 4.107 81 1 - - 4.107 Morgan Stanley 8 4.728 831 6 9 2.064 2.664 Pareto Securities 8 3.030 59 1 - - 3.030 Scotiabank 9 4.136 727 12 6 6.183 -2.047 Citi 9 2.265 44 1 5 5.988 -3.723 GMP Securities 10 3.381 595 23 10 1.880 1.501 Desjardins Capital Markets 9 2.265 44 1 - - 2.265 Goldman Sachs 11 2.928 515 6 23 0.447 2.481 Goldman Sachs 9 2.265 44 1 15 0.962 1.303 Barclays 12 2.617 460 2 17 0.863 1.754 Morgan Stanley 9 2.265 44 1 6 4.525 -2.260 Clarus Securities 13 2.542 447 12 14 1.063 1.479 National Bank Financial Inc 9 2.265 44 1 21 0.327 1.938 Eight Capital 14 1.898 334 16 24 0.412 1.486 Robert W Baird & Co 9 2.265 44 1 17 0.886 1.379 Cormark Securities Inc 15 1.643 289 15 13 1.142 0.501 UBS 9 2.265 44 1 21 0.327 1.938 JP Morgan 16 1.410 248 3 4 8.515 -7.105 Wells Fargo 9 2.265 44 1 11 1.673 0.592 UBS 17 1.160 204 2 25 0.369 0.791 Scotiabank 17 2.198 43 1 4 6.712 -4.514 Pacific International Securities Inc 18 1.118 197 23 40 0.112 1.006 Haywood Securities 18 1.465 29 21 26 0.246 1.219 Macquarie 19 1.108 195 2 22 0.528 0.580 Mackie Research Capital Corp 19 0.688 13 6 29 0.066 0.622 Haywood Securities 20 1.081 190 37 15 1.011 0.070 Eight Capital 20 0.494 10 1 - - 0.494 TOTAL 100% 17,585 293 100% TOTAL 100% 1,962 78 100%
Canadian Retail Structured Products 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (CAD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) RBC Capital Markets 1 32.110 244 17 2 32.452 -0.342 CIBC 2 27.018 205 18 1 36.086 -9.068 Scotiabank 3 25.236 191 14 3 21.046 4.190 National Bank Financial Inc 4 13.636 103 12 4 7.889 5.747 BMO Capital Markets 5 0.222 2 1 6 0.930 -0.708 Canaccord Genuity 5 0.222 2 1 - - 0.222 Desjardins Capital Markets 5 0.222 2 1 - - 0.222 Echelon Wealth Management Inc 5 0.222 2 1 - - 0.222 GMP Securities 5 0.222 2 1 - - 0.222 Industrial Alliance Insurance & Financial 5 0.222 2 1 - - 0.222 Mackie Research Capital Corp 5 0.222 2 1 - - 0.222 Raymond James & Associates 5 0.222 2 1 - - 0.222 TD Securities 5 0.222 2 1 5 1.340 -1.118 ------TOTAL 100% 758 21 100%
Bloomberg League Table Reports Page 7 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Latin America Equity Offerings: Quarterly Volume
Deal Count Amount Latin America Equity Review 20 30 1st 3Q 2018 credited Latin America Equity Offerings volume decreased 18.50% to USD 13.6 Bln while deal count decreased 15
32.08% to 36 offerings year-on-year. 20 D D e e n n a a l l l l B B
Goldman Sachs ranked as the top Latin America Equity Offerings underwriter for 1st 3Q 2018 with 12.68% market share. C C
D D 10 o o u u S S n n
The bank underwrote 8 deals over the period. Morgan Stanley and Banco BTG Pactual ranked second and third with 12.01% U U t t and 10.72% market share, respectively. 10 5
0 0 133 144 155 166 177 188 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 QQ QQ QQ QQ QQ QQ
Quarters
Latin America Equity Offerings Latin America Equity Offerings: Industry Breakdown 1st 3Q 2018 1st 3Q 2017 6% Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Financials 57% Goldman Sachs 1 12.682 1,719 8 10 4.492 8.190 5% Industrials 15% Morgan Stanley 2 12.010 1,627 9 9 5.189 6.821 6% Utilities 10% Banco BTG Pactual 3 10.722 1,453 12 6 7.458 3.264 Bank of America Merrill Lynch 4 10.599 1,436 8 1 11.794 -1.195 10% Health Care 6% JP Morgan 5 8.693 1,178 8 3 10.491 -1.798 57% Consumer Staples 5% Bradesco BBI SA 6 5.526 749 5 7 6.840 -1.314 15% Credit Suisse 7 5.459 740 4 2 10.597 -5.138 Others 6% Banco Itau BBA 8 4.693 636 5 4 10.312 -5.619 Citi 9 4.009 543 5 8 5.654 -1.645 Banco Santander 10 3.976 539 4 5 9.480 -5.504 TOTAL 100% 13,550 36 100%
Brazil Equity Offerings Latin America Equity Offerings: Manager Rankings History
1st 3Q 2018 1st 3Q 2017 2018 2017 2016 20 Firm Rank Mkt Share(%) Volume (BRL Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) )
Morgan Stanley 1 18.630 4,600 6 11 1.859 16.771 % (
e r
Goldman Sachs 2 17.367 4,288 3 9 2.564 14.803 a h
S 10
Banco BTG Pactual 3 10.644 2,628 6 7 6.707 3.937 t e k r
Bradesco BBI SA 4 10.172 2,511 5 5 11.375 -1.203 a M Bank of America Merrill Lynch 5 10.102 2,494 3 1 13.659 -3.557
Banco Itau BBA 6 8.608 2,125 5 3 12.538 -3.930 0 l s y a h n A h le u c a S JP Morgan 7 7.472 1,845 3 6 10.560 -3.088 c n t n rg I a a c y o B S t a L n S P ll M B a n ri P o Credit Suisse 8 5.673 1,400 2 4 11.409 -5.736 a G r J c m g T e s ld r B M e o o o a d Deutsche Bank 9 5.251 1,297 2 12 1.509 3.742 G M c c ra n ri a e B B m A Citi 10 3.041 751 3 12 1.509 1.532 f o k n TOTAL 100% 24,688 17 100% a B
Bloomberg League Table Reports Page 8 Bloomberg Preliminary Global Equity | 1st 3Q 2018
EMEA Equity, Equity Linked & Rights - Risk: Largest Deals by Country EMEA Equity Review of 1st 3Q 2018 Issuer Volume (USD Mln) Date Country 1st 3Q 2018 credited EMEA Equity, Equity Linked & Rights - Risk volume decreased 40.24% to USD 114.0 Bln while deal Ubisoft Entertainment SA 1,083 03/20/2018 France count decreased 22.47% to 583 offerings year-on-year. EMEA Equity IPO volume decreased 28.04% year-on-year to USD Bayer AG 6,992 06/19/2018 Germany Energean Oil & Gas PLC 460 03/16/2018 Greece 27.0 Bln while the deal count decreased 17.33% to 124. EMEA Equity Linked - Risk volume decreased 42.25% year-on-year Credito Valtellinese SpA 862 03/08/2018 Italy to USD 11.5 Bln over 35 deals. Adyen NV 1,927 09/13/2018 Netherlands JP Morgan ranked as the top EMEA Equity, Equity Linked & Rights - Risk underwriter for 1st 3Q 2018 with 9.92% market Bank Al-Jazira 798 04/04/2018 Saudi Arabia share. The bank underwrote 50 deals over the period. Goldman Sachs and Citi ranked second and third with 8.22% and PSG Group Ltd 585 01/22/2018 South Africa 7.90% market share, respectively. Aena SME SA 823 05/16/2018 Spain Sika AG 1,649 05/15/2018 Switzerland NMC Health Jersey Ltd 450 04/23/2018 United Arab Emirates Royal Bank of Scotland Group PLC 3,354 06/05/2018 United Kingdom EMEA Equity, Equity Linked & Rights - Risk: Highlights of 1st 3Q 2018
Issuer Industry Volume (USD Mln) Date Bayer AG Health Care 6,992 06/19/2018 Siemens Healthineers AG Health Care 5,181 03/15/2018 Royal Bank of Scotland Group PLC Financials 3,354 06/05/2018 EMEA Equity, Equity Linked & Rights - Risk: Industry Breakdown Covestro AG Materials 2,608 05/03/2018 Cineworld Group PLC Consumer Discretionary 2,411 02/19/2018 Industry Volume (USD Mln) % Of Total % YOY Change Covestro AG Materials 2,180 01/11/2018 Financials 40,816 33.6% -57.7% Adyen NV Financials 1,927 09/13/2018 Health Care 20,459 16.9% 29.6% Sika AG Materials 1,649 05/15/2018 Materials 14,190 11.7% -20.9% DWS Group GmbH & Co KGaA Financials 1,640 03/22/2018 Consumer Discretionary 12,989 10.7% -36.0% DS Smith PLC Materials 1,349 07/25/2018 Industrials 11,449 9.4% -31.3% Technology 5,616 4.6% -7.4% Consumer Staples 5,087 4.2% -46.2% Energy 5,080 4.2% -39.8% EMEA Equity, Equity Linked & Rights - Risk Communications 4,134 3.4% -50.2% Utilities 1,497 1.2% -87.8%
Deal Count Rights Equity-Linked IPO
Add'l
140 400 EMEA Equity, Equity Linked & Rights - Risk: Offering Breakdown 120
Offering Type Volume (USD Mln) % Of Total % YOY Change 300 100 Additional Offerings 57,616 47.5% -36.8% IPO 29,307 24.1% -32.2% D D
80 e e n n 80 a a
l l Rights Offerings 21,720 17.9% -61.5% l l B B C C
D D 200 o o Equity-Linked 12,777 10.5% -38.4% u u S S n n U U 60 t t
40 100
20
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 33 33 33 33 33 33 Q Q Q Q Q Q
Quarters
Bloomberg League Table Reports Page 9 Bloomberg Preliminary Global Equity | 1st 3Q 2018
EMEA Equity, Equity Linked & Rights - Risk EMEA Equity, Equity Linked & Rights - Syndication 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) JP Morgan 1 9.924 11,318 50 1 9.560 0.364 JP Morgan 1 10.167 11,549 51 1 9.878 0.289 Goldman Sachs 2 8.216 9,371 46 5 5.696 2.520 Goldman Sachs 2 8.132 9,238 44 5 5.873 2.259 Citi 3 7.898 9,007 51 4 7.501 0.397 Citi 3 7.341 8,340 44 4 7.354 -0.013 Morgan Stanley 4 5.699 6,500 45 2 8.364 -2.665 Morgan Stanley 4 5.619 6,383 42 2 7.772 -2.153 UBS 5 5.399 6,158 23 3 7.688 -2.289 UBS 5 5.391 6,124 22 3 7.640 -2.249 Deutsche Bank 6 4.959 5,656 40 6 5.359 -0.400 Deutsche Bank 6 5.133 5,831 39 6 5.369 -0.236 Credit Suisse 7 4.680 5,337 30 10 4.022 0.658 Bank of America Merrill Lynch 7 4.576 5,198 25 7 5.114 -0.538 Bank of America Merrill Lynch 8 4.497 5,128 26 7 5.112 -0.615 Credit Suisse 8 4.568 5,189 27 9 3.735 0.833 Barclays 9 3.968 4,525 41 9 4.038 -0.070 Barclays 9 3.640 4,135 36 10 3.611 0.029 Societe Generale 10 3.200 3,649 31 11 3.237 -0.037 Societe Generale 10 3.149 3,577 30 11 3.229 -0.080 BNP Paribas 11 2.791 3,184 29 8 4.050 -1.259 BNP Paribas 11 2.739 3,112 28 8 4.040 -1.301 HSBC 12 2.237 2,551 19 12 2.670 -0.433 HSBC 12 2.205 2,505 19 12 2.663 -0.458 Joh Berenberg Gossler & Co KG 13 2.104 2,400 26 15 1.443 0.661 Joh Berenberg Gossler & Co KG 13 2.185 2,482 27 15 1.439 0.746 Investec 14 1.959 2,234 17 39 0.397 1.562 Investec 14 1.989 2,260 18 39 0.396 1.593 Carnegie 15 1.509 1,721 35 21 1.107 0.402 Carnegie 15 1.515 1,721 35 21 1.105 0.410 Jefferies 16 1.491 1,700 24 13 1.724 -0.233 Credit Agricole CIB 16 1.318 1,497 9 14 1.582 -0.264 Credit Agricole CIB 17 1.376 1,569 10 14 1.585 -0.209 Jefferies 17 1.295 1,471 18 13 1.659 -0.364 Nordea 18 1.169 1,333 18 26 1.004 0.165 Nordea 18 1.205 1,369 19 27 1.001 0.204 UniCredit 19 1.131 1,290 9 24 1.041 0.090 Numis 19 1.119 1,271 22 20 1.166 -0.047 Numis 20 1.020 1,163 20 19 1.168 -0.148 UniCredit 20 1.072 1,218 8 25 1.038 0.034 TOTAL 100% 114,047 583 100% TOTAL 100% 113,595 567 100%
EMEA Equity & Equity Linked - Risk EMEA Equity & Equity Linked - Syndication 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) JP Morgan 1 10.140 9,608 45 1 10.857 -0.717 JP Morgan 1 10.425 9,839 46 1 11.280 -0.855 Goldman Sachs 2 8.535 8,087 42 5 5.734 2.801 Goldman Sachs 2 8.428 7,954 40 5 5.971 2.457 Citi 3 8.356 7,917 47 4 8.570 -0.214 Citi 3 7.682 7,250 40 4 8.364 -0.682 UBS 4 6.477 6,137 22 3 9.056 -2.579 UBS 4 6.467 6,103 21 2 8.983 -2.516 Morgan Stanley 5 6.364 6,030 42 2 9.366 -3.002 Morgan Stanley 5 6.265 5,913 39 3 8.557 -2.292 Deutsche Bank 6 5.546 5,254 37 6 5.568 -0.022 Deutsche Bank 6 5.753 5,429 36 6 5.578 0.175 Credit Suisse 7 5.118 4,849 27 10 3.514 1.604 Credit Suisse 7 4.980 4,700 24 10 3.126 1.854 Bank of America Merrill Lynch 8 4.651 4,407 23 7 5.190 -0.539 Bank of America Merrill Lynch 8 4.743 4,477 22 7 5.192 -0.449 Societe Generale 9 3.367 3,190 27 11 2.704 0.663 Societe Generale 9 3.304 3,118 26 11 2.695 0.609 Barclays 10 2.803 2,656 33 8 4.036 -1.233 Joh Berenberg Gossler & Co KG 10 2.605 2,458 26 12 1.893 0.712 BNP Paribas 11 2.602 2,465 24 9 3.702 -1.100 BNP Paribas 11 2.536 2,393 23 8 3.689 -1.153 Joh Berenberg Gossler & Co KG 12 2.508 2,376 25 12 1.900 0.608 Barclays 12 2.401 2,266 28 9 3.456 -1.055 Carnegie 13 1.805 1,711 31 16 1.499 0.306 Carnegie 13 1.812 1,711 31 17 1.493 0.319 Jefferies 14 1.769 1,676 23 14 1.602 0.167 Jefferies 14 1.533 1,447 17 15 1.514 0.019 Investec 15 1.419 1,344 15 31 0.537 0.882 Investec 15 1.451 1,369 16 31 0.535 0.916 Nordea 16 1.400 1,327 17 18 1.298 0.102 Nordea 16 1.444 1,363 18 19 1.293 0.151 HSBC 17 1.018 964 14 13 1.858 -0.840 Nomura 17 1.131 1,067 9 14 1.815 -0.684 Standard Bank of South Africa 18 1.007 954 6 79 0.079 0.928 Numis 18 1.116 1,053 17 18 1.461 -0.345 Credit Agricole CIB 19 0.999 946 8 23 0.705 0.294 Pareto Securities 19 1.015 958 20 41 0.306 0.709 Numis 20 0.998 945 15 17 1.466 -0.468 Standard Bank of South Africa 20 1.011 954 6 80 0.078 0.933 TOTAL 100% 94,745 518 100% TOTAL 100% 94,377 505 100%
Bloomberg League Table Reports Page 10 Bloomberg Preliminary Global Equity | 1st 3Q 2018
EMEA Equity Linked - Risk EMEA Equity Linked - Syndication 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) UBS 1 16.101 1,851 3 10 2.730 13.371 UBS 1 13.683 1,851 3 12 2.150 11.533 Deutsche Bank 2 10.930 1,256 7 2 10.544 0.386 Deutsche Bank 2 10.785 1,459 7 2 10.483 0.302 Societe Generale 3 10.253 1,179 9 5 6.745 3.508 JP Morgan 3 10.395 1,406 10 1 27.202 -16.807 JP Morgan 4 10.245 1,178 8 1 32.286 -22.041 Societe Generale 4 8.182 1,107 8 6 5.313 2.869 Citi 5 9.483 1,090 8 6 4.699 4.784 Nomura 5 7.888 1,067 9 3 9.531 -1.643 BNP Paribas 6 7.046 810 9 3 9.360 -2.314 Citi 6 7.124 964 6 8 3.283 3.841 HSBC 7 5.346 615 7 12 2.077 3.269 BNP Paribas 7 5.456 738 8 4 7.372 -1.916 Barclays 8 5.258 604 6 8 3.613 1.645 Daiwa Securities 8 4.394 594 4 18 0.780 3.614 Goldman Sachs 9 3.508 403 4 9 3.305 0.203 HSBC 9 4.012 543 6 15 1.636 2.376 Bank of America Merrill Lynch 10 3.012 346 4 16 0.665 2.347 Goldman Sachs 10 3.952 535 6 7 4.794 -0.842 Credit Agricole CIB 11 2.703 311 4 7 3.960 -1.257 Morgan Stanley 11 3.048 412 5 5 7.205 -4.157 Morgan Stanley 12 2.351 270 3 4 7.266 -4.915 Bank of America Merrill Lynch 12 2.559 346 4 17 0.814 1.745 Natixis 13 2.205 254 3 11 2.095 0.110 Barclays 13 2.514 340 4 9 3.136 -0.622 UniCredit 14 1.636 188 2 14 1.950 -0.314 Mizuho Financial 14 2.355 318 3 11 2.849 -0.494 Credit Suisse 15 1.511 174 2 13 2.014 -0.503 Sumitomo Mitsui Financial 15 2.188 296 2 - - 2.188 Joh Berenberg Gossler & Co KG 16 1.209 139 2 15 0.891 0.318 Credit Agricole CIB 16 1.766 239 3 10 3.119 -1.353 Jefferies 17 0.980 113 2 - - 0.980 Natixis 17 1.343 182 2 14 1.650 -0.307 Vontobel Holding AG 18 0.885 102 1 - - 0.885 Credit Suisse 18 1.284 174 2 13 1.877 -0.593 Clarksons Platou Securities 19 0.761 88 1 - - 0.761 Joh Berenberg Gossler & Co KG 19 1.028 139 2 19 0.702 0.326 DNB ASA 19 0.761 88 1 - - 0.761 UniCredit 20 0.859 116 1 16 1.536 -0.677 TOTAL 100% 11,495 35 100% TOTAL 100% 13,526 50 100%
EMEA Equity IPO EMEA Equity Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) Citi 1 9.230 2,489 18 2 8.197 1.033 JP Morgan 1 10.126 8,430 37 4 7.486 2.640 JP Morgan 2 7.733 2,086 12 3 7.604 0.129 Goldman Sachs 2 9.230 7,684 38 5 6.118 3.112 Deutsche Bank 3 6.326 1,706 11 6 5.252 1.074 Citi 3 8.201 6,827 39 3 9.181 -0.980 Morgan Stanley 4 6.094 1,643 13 5 5.610 0.484 Morgan Stanley 4 6.919 5,760 39 2 9.672 -2.753 Goldman Sachs 5 6.054 1,633 10 7 3.950 2.104 Credit Suisse 5 5.616 4,675 25 9 3.751 1.865 Bank of America Merrill Lynch 6 5.231 1,411 7 8 3.364 1.867 UBS 6 5.148 4,286 19 1 10.054 -4.906 BNP Paribas 7 4.873 1,314 9 16 1.832 3.041 Bank of America Merrill Lynch 7 4.878 4,061 19 6 5.904 -1.026 UBS 8 4.819 1,300 5 1 9.008 -4.189 Deutsche Bank 8 4.802 3,998 30 7 4.786 0.016 Credit Suisse 9 3.922 1,058 10 4 6.341 -2.419 Joh Berenberg Gossler & Co KG 9 2.687 2,237 23 12 2.060 0.627 Joh Berenberg Gossler & Co KG 10 3.486 940 7 17 1.823 1.663 Barclays 10 2.464 2,052 27 8 4.104 -1.640 Carnegie 11 2.447 660 8 15 1.914 0.533 Societe Generale 11 2.416 2,011 18 11 2.069 0.347 Jefferies 12 1.912 516 5 10 2.823 -0.911 Carnegie 12 2.055 1,711 31 16 1.735 0.320 Nordea 13 1.826 492 4 23 1.095 0.731 BNP Paribas 13 1.988 1,655 15 10 2.812 -0.824 ABN Amro Bank NV 14 1.596 430 4 47 0.369 1.227 Jefferies 14 1.878 1,563 21 13 1.854 0.024 Pareto Securities 15 1.547 417 2 42 0.487 1.060 Investec 15 1.615 1,344 15 30 0.622 0.993 ING Groep 16 1.338 361 4 40 0.490 0.848 Nordea 16 1.594 1,327 17 18 1.429 0.165 UniCredit 17 1.310 353 3 20 1.356 -0.046 Standard Bank of South Africa 17 1.146 954 6 78 0.091 1.055 Barclays 18 1.307 353 3 11 2.408 -1.101 Numis 18 1.135 945 15 17 1.698 -0.563 SEB 19 1.207 326 5 25 1.029 0.178 Danske Bank 19 1.087 905 14 31 0.543 0.544 Societe Generale 20 1.172 316 7 30 0.685 0.487 Pareto Securities 20 1.052 876 18 38 0.346 0.706 TOTAL 100% 26,969 124 100% TOTAL 100% 83,249 483 100%
Bloomberg League Table Reports Page 11 Bloomberg Preliminary Global Equity | 1st 3Q 2018
EMEA Rights Offerings Western Europe Equity, Equity Linked & Rights 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (EUR Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Barclays 1 9.683 1,869 8 12 4.043 5.640 JP Morgan 1 9.653 7,955 40 1 9.662 -0.009 JP Morgan 2 8.861 1,710 5 1 5.920 2.941 Goldman Sachs 2 8.807 7,259 40 5 6.125 2.682 HSBC 3 8.221 1,587 5 6 4.947 3.274 Citi 3 8.016 6,606 43 4 6.857 1.159 Goldman Sachs 4 6.650 1,284 4 2 5.591 1.059 Morgan Stanley 4 6.523 5,376 44 2 7.920 -1.397 Citi 5 5.647 1,090 4 10 4.501 1.146 UBS 5 5.498 4,531 21 3 7.776 -2.278 Investec 6 4.611 890 2 58 0.002 4.609 Deutsche Bank 6 5.233 4,312 36 7 5.033 0.200 Banco Santander 7 4.227 816 4 18 2.925 1.302 Credit Suisse 7 5.001 4,122 27 9 4.496 0.505 Bank of America Merrill Lynch 8 3.738 722 3 7 4.890 -1.152 Bank of America Merrill Lynch 8 4.661 3,841 19 6 5.478 -0.817 BNP Paribas 9 3.723 719 5 5 5.027 -1.304 Barclays 9 4.183 3,447 36 10 3.872 0.311 Credit Agricole CIB 10 3.226 623 2 11 4.057 -0.831 Societe Generale 10 3.572 2,944 30 11 3.706 -0.134 Commerzbank 11 2.540 490 3 20 2.405 0.135 BNP Paribas 11 3.071 2,531 28 8 4.666 -1.595 ING Groep 12 2.534 489 4 19 2.559 -0.025 HSBC 12 2.414 1,989 17 12 2.528 -0.114 Credit Suisse 13 2.530 488 3 4 5.447 -2.917 Joh Berenberg Gossler & Co KG 13 2.404 1,982 26 15 1.612 0.792 Morgan Stanley 14 2.433 470 3 3 5.551 -3.118 Carnegie 14 1.705 1,406 34 19 1.271 0.434 Societe Generale 15 2.379 459 4 9 4.730 -2.351 Jefferies 15 1.609 1,326 21 13 1.970 -0.361 Deutsche Bank 16 2.081 402 3 8 4.774 -2.693 Credit Agricole CIB 16 1.579 1,301 10 14 1.856 -0.277 Alinma Bank 17 2.068 399 1 - - 2.068 Investec 17 1.577 1,300 13 39 0.303 1.274 Intesa Sanpaolo 18 2.000 386 2 15 3.794 -1.794 Nordea 18 1.348 1,111 18 25 1.164 0.184 Banco Bilbao Vizcaya Argentaria 19 1.811 350 1 15 3.794 -1.983 UniCredit 19 1.197 986 7 26 1.131 0.066 Mitsubishi UFJ Financial Group Inc 19 1.811 350 1 - - 1.811 Numis 20 1.169 963 20 18 1.327 -0.158 TOTAL 100% 19,301 65 100% TOTAL 100% 82,415 480 100%
Eastern Europe Equity, Equity Linked & Rights AIM Equity Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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(%) Bank of America Merrill Lynch 1 8.397 245 4 5 7.238 1.159 Stifel 1 11.096 554 12 11 3.042 8.054 JP Morgan 2 6.553 191 3 6 6.946 -0.393 Liberum Capital Ltd 2 9.689 484 9 8 4.588 5.101 Goldman Sachs 3 6.510 190 3 4 7.620 -1.110 Numis 3 8.953 447 18 3 7.158 1.795 Akbank TAS 4 5.827 170 3 - - 5.827 Cenkos Securities 4 7.018 351 18 1 17.902 -10.884 VTB Capital 5 5.750 168 2 3 7.683 -1.933 Joh Berenberg Gossler & Co KG 5 6.556 327 8 7 5.208 1.348 Citi 6 5.698 166 3 1 15.238 -9.540 Equita SIM SpA 6 6.024 301 2 16 1.540 4.484 Deutsche Bank 7 5.631 164 3 7 6.777 -1.146 Investec 7 4.131 206 7 24 1.094 3.037 Turkiye Garanti Bankasi AS 8 5.458 159 2 - - 5.458 Credit Suisse 8 3.521 176 1 - - 3.521 HSBC 9 4.358 127 2 21 1.201 3.157 Intesa Sanpaolo 8 3.521 176 1 5 5.625 -2.104 Unlu Menkul Degerler AS 10 3.809 111 2 24 1.032 2.777 Mirabaud Securities 10 3.211 160 3 19 1.369 1.842 UniCredit 11 3.334 97 2 22 1.151 2.183 Zeus Capital 11 2.445 122 5 2 8.362 -5.917 Trigon Dom Maklerski SA 12 3.278 96 3 30 0.555 2.723 FinnCap 12 2.063 103 21 4 5.644 -3.581 TC Ziraat Bankasi 13 3.187 93 1 - - 3.187 Macquarie 13 1.865 93 4 22 1.171 0.694 Turkiye IS Bankasi 13 3.187 93 1 25 0.993 2.194 UniCredit 14 1.754 88 2 - - 1.754 Vakif Yatirim Menkul Degerler AS 13 3.187 93 1 - - 3.187 Banca Popolare di Milano 15 1.752 88 1 - - 1.752 Yapi ve Kredi Bankasi AS 13 3.187 93 1 - - 3.187 Peel Hunt LLP 16 1.529 76 3 6 5.575 -4.046 Sberbank CIB CJSC 17 3.079 90 2 12 2.617 0.462 Shore Capital Group Ltd 17 1.526 76 10 31 0.513 1.013 Erste Group Bank 18 2.422 71 3 17 1.673 0.749 Panmure Gordon 18 1.444 72 7 9 4.578 -3.134 Credit Suisse 19 2.145 63 1 16 1.931 0.214 Nplus1 Singer Ltd 19 1.408 70 3 15 1.860 -0.452 Morgan Stanley 20 2.080 61 1 13 2.407 -0.327 Canaccord Genuity 20 1.332 67 6 10 3.270 -1.938 TOTAL 100% 2,913 28 100% TOTAL 100% 4,994 275 100%
Bloomberg League Table Reports Page 12 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Africa Equity, Equity Linked & Rights Sub-Sahara Equity, Equity Linked & Rights 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) Standard Bank of South Africa 1 19.616 954 6 17 0.984 18.632 Standard Bank of South Africa 1 20.700 818 5 16 1.011 19.689 Investec 2 13.441 654 4 12 1.953 11.488 Investec 2 16.545 654 4 12 2.008 14.537 JP Morgan 3 10.719 521 4 2 10.554 0.165 JP Morgan 3 9.748 385 3 2 10.848 -1.100 PSG Group Ltd 4 6.888 335 3 22 0.293 6.595 PSG Group Ltd 4 8.478 335 3 20 0.301 8.177 Java Capital 5 5.605 273 5 5 9.026 -3.421 Java Capital 5 6.899 273 5 4 9.278 -2.379 Citi 6 5.061 246 2 3 10.090 -5.029 IC Securities Ghana Ltd 6 6.213 246 1 - - 6.213 IC Securities Ghana Ltd 7 5.047 246 1 - - 5.047 Deutsche Bank 7 6.132 242 1 8 6.152 -0.020 Deutsche Bank 8 4.981 242 1 8 5.985 -1.004 Bank of America Merrill Lynch 8 5.490 217 2 - - 5.490 Bank of America Merrill Lynch 9 4.460 217 2 - - 4.460 Barclays 9 4.236 167 3 7 8.186 -3.950 Barclays 10 3.441 167 3 7 7.964 -4.523 Citi 10 2.784 110 1 5 9.193 -6.409 BNP Paribas 11 2.799 136 1 - - 2.799 Societe Generale 10 2.784 110 1 - - 2.784 Credit Suisse 11 2.799 136 1 - - 2.799 Goldman Sachs 12 2.565 101 1 - - 2.565 FirstRand Ltd 11 2.799 136 1 6 8.011 -5.212 BMO Capital Markets 13 1.898 75 3 14 1.341 0.557 Societe Generale 14 2.261 110 1 - - 2.261 RBC Capital Markets 14 1.452 57 2 17 0.871 0.581 Goldman Sachs 15 2.084 101 1 - - 2.084 Exotix 15 0.836 33 1 - - 0.836 BMO Capital Markets 16 1.542 75 3 14 1.305 0.237 FinnCap 15 0.836 33 1 - - 0.836 RBC Capital Markets 17 1.180 57 2 18 0.847 0.333 Northland Capital Partners Ltd 15 0.836 33 1 - - 0.836 Jefferies 18 1.084 53 1 - - 1.084 Barclays Africa Group Ltd 18 0.523 21 1 18 0.445 0.078 Exotix 19 0.679 33 1 - - 0.679 Nedbank Ltd 18 0.523 21 1 - - 0.523 FinnCap 19 0.679 33 1 - - 0.679 UBS 18 0.523 21 1 3 9.350 -8.827 TOTAL 100% 4,864 27 100% TOTAL 100% 3,951 24 100%
MENA Equity, Equity Linked & Rights 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) JP Morgan 1 19.470 985 3 - - 19.470 EFG-Hermes 2 15.268 773 2 5 10.763 4.505 Alinma Bank 3 7.888 399 1 - - 7.888 Goldman Sachs 4 6.026 305 2 - - 6.026 Emirates NBD PJSC 5 5.676 287 2 10 2.383 3.293 DNB ASA 6 5.052 256 5 1 18.077 -13.025 Citi 7 4.932 250 3 6 8.253 -3.321 Clarksons Platou Securities 8 4.615 234 3 3 12.962 -8.347 NBK Capital 9 4.191 212 1 - - 4.191 National Commercial Bank 10 3.425 173 1 - - 3.425 BNP Paribas 11 2.690 136 1 - - 2.690 Credit Suisse 11 2.690 136 1 - - 2.690 FirstRand Ltd 11 2.690 136 1 - - 2.690 Standard Bank of South Africa 11 2.690 136 1 - - 2.690 Pareto Securities 15 1.904 96 2 - - 1.904 Bank Albilad 16 1.865 94 1 - - 1.865 Ubhar Capital SAOC 17 1.326 67 1 18 0.472 0.854 Grant Thornton International Ltd 18 1.179 60 1 - - 1.179 Bank Muscat 19 1.119 57 2 - - 1.119 ABG Sundal Collier Asa 20 1.087 55 3 11 1.795 -0.708 TOTAL 100% 5,060 25 100%
Bloomberg League Table Reports Page 13 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Asia ex-Japan Equity, Equity Linked & Rights
Deal Count Rights IPO Asia Pacific Equity Review Add'l 80 800 1st 3Q 2018 credited APAC ex-Japan Equity, Equity Linked & Rights volume increased 31.24% to USD 163.1 Bln while deal D D e e n n l l count decreased 9.91% to 1,537 offerings year-on-year. APAC ex-Japan Equity IPO volume increased 22.57% year-on- 50 500 a a l l B B
C C D D o o u u S S
year to USD 70.7 Bln while the deal count decreased 25.81% to 598. APAC ex-Japan Equity Linked volume increased n n U U t t 78.60% year-on-year to USD 26.1 Bln over 146 deals.
Morgan Stanley ranked as the top APAC ex-Japan Equity, Equity Linked & Rights underwriter for 1st 3Q 2018 with 8.01% 0 0 133 144 155 166 177 188 001 001 001 001 001 001 market share. The bank underwrote 53 deals over the period. Goldman Sachs and Citi ranked second and third with 7.88% 22 22 22 22 22 22 33 33 33 33 33 33 Q Q Q Q Q Q and 7.14% market share, respectively. Q Q Q Q Q Q Quarters Australia/New Zealand Equity, EQL & Rights APAC Equity, Equity Linked & Rights: Highlights of 1st 3Q 2018 Deal Count Rights IPO
Issuer Industry Volume (USD Mln) Date Add'l Tencent Holdings Ltd Technology 9,807 03/23/2018 20 400 China Tower Corp Ltd Industrials 7,491 08/01/2018 D D e e n n l l a a
Xiaomi Corp Technology 5,431 06/29/2018 l l B B
C C D D 10 200 o o u u S S
Yahoo Japan Corp Communications 4,324 09/11/2018 n n U U t t Foxconn Industrial Internet Co Ltd Technology 4,232 05/23/2018 Meituan Dianping Consumer Discretionary 4,222 09/13/2018 0 0 Transurban Group Industrials 3,464 09/13/2018 133 144 155 166 177 188 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 China National Petroleum Corp Energy 3,174 02/01/2018 QQ QQ QQ QQ QQ QQ Renesas Electronics Corp Technology 2,721 04/18/2018 Quarters iQIYI Inc Communications 2,424 03/29/2018 China Equity, Equity Linked & Rights
Deal Count Rights IPO
APAC Equity, Equity Linked & Rights: Industry Breakdown Add'l 400 400 D D e e
4% 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 Financials 54,597 26.5% -9.7% S S n n
5% U U t t 6% 27% Technology 40,015 19.4% 129.1% Consumer Discretionary 26,453 12.8% 18.2% 6% 0 0 Industrials 25,388 12.3% 5.1% 133 144 155 166 177 188 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 7% Communications 14,952 7.3% 81.5% QQ QQ QQ QQ QQ QQ Materials 12,695 6.2% 4.2% Quarters Health Care 12,204 5.9% 48.5% 12% 19% Energy 10,894 5.3% 5.6% Japan Equity & Equity Linked 13% Consumer Staples 6,541 3.2% -9.0% Utilities 2,274 1.1% -42.6% Deal Count Rights IPO
Add'l
1,800 110 D D e e n n a a l l l l B B
1,000 C C D D o o
50 u u S S 50 n n U U t t
0 0 133 144 155 166 177 188 001 001 001 001 001 001 22 22 22 22 22 22 33 33 33 33 33 33 QQ QQ QQ QQ QQ QQ
Quarters
Bloomberg League Table Reports Page 14 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Asia ex-Japan Equity, Equity Linked & Rights Asia ex-Japan Equity, EQL & Rights ex-CH A Shares 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 8.556 12,541 48 2 5.384 3.172 Goldman Sachs 1 9.409 10,844 39 2 6.693 2.716 Morgan Stanley 2 7.356 10,782 47 3 4.933 2.423 Morgan Stanley 2 9.355 10,782 47 3 6.311 3.044 Citi 3 7.338 10,754 62 1 5.760 1.578 Citi 3 9.148 10,544 60 1 7.910 1.238 China International Capital Corp 4 5.565 8,157 28 6 2.975 2.590 Bank of America Merrill Lynch 4 6.172 7,114 21 5 4.078 2.094 Bank of America Merrill Lynch 5 4.854 7,114 21 9 2.710 2.144 Credit Suisse 5 5.358 6,175 46 6 3.724 1.634 Credit Suisse 6 4.384 6,425 47 10 2.623 1.761 UBS 6 4.651 5,360 35 9 3.180 1.471 China Securities 7 3.910 5,731 30 14 2.050 1.860 JP Morgan 7 4.624 5,329 35 8 3.309 1.315 JP Morgan 8 3.807 5,579 36 13 2.293 1.514 BNP Paribas 8 2.401 2,767 15 34 0.854 1.547 UBS 9 3.703 5,428 36 7 2.851 0.852 Deutsche Bank 9 2.204 2,541 21 4 4.177 -1.973 CITIC Securities 10 3.213 4,709 35 4 4.271 -1.058 HSBC 10 2.162 2,492 18 10 2.074 0.088 China Merchants Securities 11 2.070 3,034 21 15 1.837 0.233 CITIC Securities 11 2.131 2,456 24 20 1.363 0.768 Haitong Securities 12 1.923 2,818 33 11 2.572 -0.649 China International Capital Corp 12 2.053 2,366 18 25 1.105 0.948 Deutsche Bank 13 1.915 2,806 24 5 3.140 -1.225 Haitong Securities 13 2.003 2,308 26 14 1.609 0.394 BNP Paribas 14 1.888 2,767 15 48 0.567 1.321 China Merchants Bank 14 1.998 2,303 16 32 0.869 1.129 HSBC 15 1.700 2,492 18 19 1.379 0.321 China Merchants Securities 15 1.514 1,745 13 28 1.005 0.509 China Merchants Bank 16 1.571 2,303 16 46 0.577 0.994 Agricultural Bank of China 16 1.475 1,700 19 41 0.666 0.809 Huatai Securities 17 1.558 2,284 14 41 0.679 0.879 China Construction Bank 17 1.405 1,619 16 19 1.378 0.027 Guotai Junan Securities 18 1.403 2,056 18 16 1.836 -0.433 Industrial & Comm Bank of China 18 1.341 1,546 10 65 0.235 1.106 Agricultural Bank of China 19 1.160 1,700 19 56 0.443 0.717 Kotak Mahindra Bank Ltd 19 1.141 1,315 13 23 1.223 -0.082 Bank of China 20 1.154 1,691 10 21 1.197 -0.043 Daishin Securities 20 1.116 1,286 12 84 0.142 0.974 TOTAL 100% 146,566 1,126 100% TOTAL 100% 115,252 986 100%
Asia ex-Japan Equity & Equity Linked Asia ex-Japan Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 8.990 12,299 47 2 5.606 3.384 Goldman Sachs 1 12.573 3,206 4 4 8.633 3.940 Morgan Stanley 2 7.881 10,782 47 3 5.328 2.553 China Securities 2 11.323 2,887 12 11 2.759 8.564 Citi 3 7.834 10,718 61 1 5.908 1.926 Credit Suisse 3 7.803 1,989 10 27 0.681 7.122 China International Capital Corp 4 5.962 8,157 28 6 3.213 2.749 JP Morgan 4 6.716 1,712 8 - - 6.716 Bank of America Merrill Lynch 5 5.173 7,077 20 7 2.927 2.246 CITIC Securities 5 3.858 983 3 1 11.737 -7.879 Credit Suisse 6 4.476 6,123 46 10 2.544 1.932 Citi 6 3.579 912 5 19 1.306 2.273 JP Morgan 7 3.901 5,337 35 12 2.372 1.529 China International Capital Corp 7 3.335 850 4 2 9.233 -5.898 UBS 8 3.761 5,145 35 8 2.870 0.891 Minsheng Securities 8 3.035 774 5 - - 3.035 China Securities 9 3.495 4,781 28 14 2.214 1.281 Huatai Securities 9 2.980 760 2 - - 2.980 CITIC Securities 10 3.194 4,370 33 4 4.533 -1.339 Haitong Securities 10 2.911 742 5 - - 2.911 China Merchants Securities 11 2.218 3,034 21 15 1.984 0.234 Bank of China 11 2.860 729 2 10 3.572 -0.712 Haitong Securities 12 1.847 2,527 32 13 2.366 -0.519 Deutsche Bank 12 2.731 696 3 3 9.233 -6.502 HSBC 13 1.821 2,492 18 22 1.260 0.561 BNP Paribas 13 2.689 686 3 - - 2.689 BNP Paribas 14 1.800 2,462 13 59 0.369 1.431 Zhongtai Securities 14 2.395 611 2 - - 2.395 Deutsche Bank 15 1.777 2,431 22 5 3.312 -1.535 Morgan Stanley 15 2.199 561 4 6 5.481 -3.282 China Merchants Bank 16 1.683 2,303 16 41 0.624 1.059 Guotai Junan Securities 16 2.145 547 2 - - 2.145 Huatai Securities 17 1.670 2,284 14 36 0.734 0.936 Changjiang Securities 17 2.135 544 2 - - 2.135 Guotai Junan Securities 18 1.290 1,765 17 18 1.403 -0.113 China Merchants Securities 18 1.996 509 2 18 1.856 0.140 Agricultural Bank of China 19 1.242 1,700 19 51 0.478 0.764 UBS 19 1.923 490 3 5 6.742 -4.819 Bank of China 20 1.236 1,691 10 19 1.292 -0.056 Fubon Securities Co 20 1.821 464 10 13 2.708 -0.887 TOTAL 100% 136,801 1,078 100% TOTAL 100% 25,494 144 100%
Bloomberg League Table Reports Page 15 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Asia ex-Japan Equity Linked ex-China Exchanges Asia ex-Japan Equity Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 18.987 2,569 2 8 4.054 14.933 China International Capital Corp 1 6.640 10,647 29 4 4.101 2.539 Credit Suisse 2 14.703 1,989 10 13 2.130 12.573 Citi 2 6.640 10,647 61 3 4.447 2.193 JP Morgan 3 12.655 1,712 8 - - 12.655 Morgan Stanley 3 6.541 10,489 44 9 3.068 3.473 Citi 4 6.743 912 5 7 4.086 2.657 Goldman Sachs 4 6.024 9,660 46 7 3.879 2.145 Deutsche Bank 5 5.145 696 3 1 27.718 -22.573 China Securities 5 5.810 9,317 29 5 4.055 1.755 BNP Paribas 6 5.067 686 3 - - 5.067 CITIC Securities 6 5.504 8,825 46 1 6.885 -1.381 Haitong Securities 7 4.421 598 3 - - 4.421 Bank of America Merrill Lynch 7 4.157 6,666 19 18 1.781 2.376 Morgan Stanley 8 4.144 561 4 - - 4.144 Guotai Junan Securities 8 4.154 6,660 29 2 5.053 -0.899 CITIC Securities 9 3.917 530 2 - - 3.917 Huatai Securities 9 3.959 6,348 23 8 3.294 0.665 UBS 10 3.624 490 3 9 3.944 -0.320 UBS 10 3.148 5,048 34 12 2.287 0.861 Fubon Securities Co 11 3.431 464 10 2 8.474 -5.043 Credit Suisse 11 2.835 4,546 38 19 1.749 1.086 Bank of America Merrill Lynch 12 3.306 447 2 - - 3.306 JP Morgan 12 2.412 3,867 28 22 1.507 0.905 HSBC 13 2.506 339 4 - - 2.506 Bank of China 13 2.152 3,451 9 21 1.587 0.565 Taishin Financial Holding Co Ltd 14 2.377 322 6 15 2.050 0.327 China Merchants Securities 14 1.753 2,811 23 13 2.144 -0.391 Yuanta Securities Co Ltd 15 1.391 188 3 4 6.908 -5.517 Guosen Securities 15 1.666 2,671 11 11 2.450 -0.784 Nomura 16 1.375 186 2 17 1.220 0.155 Deutsche Bank 16 1.590 2,550 24 14 2.130 -0.540 CIMB 17 1.185 160 1 17 1.220 -0.035 Haitong Securities 17 1.531 2,455 34 6 4.023 -2.492 KGI Securities 18 1.151 156 7 3 8.375 -7.224 China Merchants Bank 18 1.436 2,303 16 59 0.379 1.057 Grand Fortune Securities Co 19 0.798 108 3 21 0.588 0.210 HSBC 19 1.342 2,152 14 26 0.906 0.436 RBC Capital Markets 20 0.739 100 1 - - 0.739 BNP Paribas 20 1.298 2,081 12 61 0.373 0.925 TOTAL 100% 13,530 98 100% TOTAL 100% 160,345 1,105 100%
Asia ex-Japan Equity IPO 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (USD Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) China International Capital Corp 1 10.110 6,889 21 5 3.437 6.673 Goldman Sachs 2 6.298 4,291 23 39 0.798 5.500 CITIC Securities 3 4.238 2,888 26 2 4.476 -0.238 Morgan Stanley 4 4.058 2,765 19 15 1.652 2.406 Bank of America Merrill Lynch 5 3.704 2,524 11 24 1.276 2.428 Credit Suisse 6 3.693 2,517 18 16 1.621 2.072 Citi 7 3.656 2,491 24 1 4.556 -0.900 China Merchants Securities 8 3.510 2,392 18 7 3.132 0.378 UBS 9 2.856 1,946 14 14 1.676 1.180 China Merchants Bank 10 2.762 1,882 14 37 0.871 1.891 China Securities 11 2.730 1,860 15 6 3.431 -0.701 JP Morgan 12 2.701 1,841 15 12 2.246 0.455 Agricultural Bank of China 13 2.405 1,638 18 36 0.895 1.510 Haitong Securities 14 2.314 1,576 24 4 4.006 -1.692 Industrial & Comm Bank of China 15 2.244 1,529 9 75 0.265 1.979 Huatai Securities 16 2.237 1,524 12 22 1.373 0.864 China Construction Bank 17 2.210 1,506 13 21 1.456 0.754 Deutsche Bank 18 2.063 1,405 15 23 1.292 0.771 Guotai Junan Securities 19 1.762 1,200 12 9 2.579 -0.817 HSBC 20 1.754 1,195 7 34 0.950 0.804 TOTAL 100% 68,139 549 100%
Bloomberg League Table Reports Page 16 Bloomberg Preliminary Global Equity | 1st 3Q 2018
APAC Equity, Equity Linked & Rights APAC Equity & Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 8.159 15,504 80 1 6.120 2.039 Goldman Sachs 1 8.724 14,995 55 2 5.850 2.874 Goldman Sachs 2 8.084 15,362 57 2 5.517 2.567 Morgan Stanley 2 7.712 13,257 76 1 6.434 1.278 Citi 3 6.582 12,507 81 3 4.770 1.812 Citi 3 7.255 12,470 80 4 4.725 2.530 UBS 4 5.213 9,906 56 5 3.983 1.230 JP Morgan 4 5.228 8,986 49 8 3.223 2.005 JP Morgan 5 5.051 9,598 54 6 3.515 1.536 Bank of America Merrill Lynch 5 4.880 8,388 24 7 3.230 1.650 Bank of America Merrill Lynch 6 4.433 8,425 25 8 2.941 1.492 China International Capital Corp 6 4.745 8,157 28 11 2.483 2.262 China International Capital Corp 7 4.292 8,157 28 11 2.522 1.770 UBS 7 4.091 7,032 46 6 3.270 0.821 Credit Suisse 8 3.551 6,748 50 13 2.184 1.367 Credit Suisse 8 3.750 6,446 49 14 2.086 1.664 China Securities 9 3.016 5,731 30 18 1.558 1.458 Nomura 9 3.170 5,449 79 3 4.746 -1.576 Nomura 10 2.994 5,689 80 4 4.322 -1.328 China Securities 10 2.782 4,781 28 18 1.711 1.071 CITIC Securities 11 2.478 4,709 35 7 3.246 -0.768 Sumitomo Mitsui Financial 11 2.670 4,589 61 9 2.953 -0.283 Sumitomo Mitsui Financial 12 2.415 4,589 61 10 2.689 -0.274 CITIC Securities 12 2.542 4,370 33 5 3.503 -0.961 Deutsche Bank 13 2.282 4,337 35 9 2.698 -0.416 Daiwa Securities 13 2.153 3,700 37 13 2.363 -0.210 Daiwa Securities 14 1.947 3,700 37 14 2.152 -0.205 Deutsche Bank 14 2.082 3,579 29 10 2.901 -0.819 Mizuho Financial 15 1.683 3,198 53 12 2.194 -0.511 Mizuho Financial 15 1.861 3,198 53 12 2.409 -0.548 China Merchants Securities 16 1.597 3,034 21 20 1.396 0.201 China Merchants Securities 16 1.765 3,034 21 19 1.533 0.232 Haitong Securities 17 1.483 2,818 33 16 1.955 -0.472 Haitong Securities 17 1.470 2,527 32 17 1.829 -0.359 BNP Paribas 18 1.456 2,767 15 52 0.431 1.025 HSBC 18 1.450 2,492 18 27 0.974 0.476 Macquarie 19 1.391 2,643 19 19 1.421 -0.030 BNP Paribas 19 1.433 2,462 13 63 0.285 1.148 HSBC 20 1.311 2,492 18 24 1.048 0.263 China Merchants Bank 20 1.340 2,303 16 45 0.482 0.858 TOTAL 100% 190,029 1,724 100% TOTAL 100% 171,888 1,615 100%
APAC Equity Offerings APAC Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 8.734 12,428 68 1 6.439 2.295 Goldman Sachs 1 12.261 3,628 8 2 8.703 3.558 Citi 2 8.122 11,558 75 2 5.370 2.752 China Securities 2 9.756 2,887 12 15 2.012 7.744 Goldman Sachs 3 7.988 11,367 47 3 5.362 2.626 Credit Suisse 3 7.200 2,131 11 31 0.496 6.704 Bank of America Merrill Lynch 4 5.580 7,941 22 4 3.782 1.798 JP Morgan 4 6.230 1,844 10 14 2.406 3.824 China International Capital Corp 5 5.135 7,306 24 17 1.756 3.379 Nomura 5 4.742 1,403 12 1 12.862 -8.120 JP Morgan 6 5.019 7,142 39 6 3.363 1.656 Daiwa Securities 6 3.833 1,134 6 10 3.515 0.318 UBS 7 4.597 6,542 43 8 2.989 1.608 CITIC Securities 7 3.324 983 3 3 8.560 -5.236 Credit Suisse 8 3.033 4,316 38 11 2.358 0.675 Deutsche Bank 8 3.280 971 4 5 6.734 -3.454 Nomura 9 2.843 4,046 67 7 3.359 -0.516 Citi 9 3.083 912 5 23 0.953 2.130 Sumitomo Mitsui Financial 10 2.815 4,005 57 5 3.433 -0.618 China International Capital Corp 10 2.874 850 4 4 6.734 -3.860 CITIC Securities 11 2.380 3,387 30 9 2.639 -0.259 Morgan Stanley 11 2.802 829 8 6 6.404 -3.602 Mizuho Financial 12 1.993 2,837 49 13 2.204 -0.211 Minsheng Securities 12 2.615 774 5 - - 2.615 Deutsche Bank 13 1.833 2,608 25 12 2.246 -0.413 Huatai Securities 13 2.568 760 2 - - 2.568 Daiwa Securities 14 1.803 2,566 31 14 2.166 -0.363 Haitong Securities 14 2.508 742 5 - - 2.508 China Merchants Securities 15 1.775 2,525 19 19 1.564 0.211 Bank of China 15 2.464 729 2 13 2.606 -0.142 China Merchants Bank 16 1.618 2,303 16 40 0.564 1.054 BNP Paribas 16 2.317 686 3 - - 2.317 HSBC 17 1.513 2,152 14 25 1.140 0.373 Zhongtai Securities 17 2.063 611 2 - - 2.063 China Securities 18 1.331 1,894 16 18 1.659 -0.328 Sumitomo Mitsui Financial 18 1.972 583 4 37 0.144 1.828 Haitong Securities 19 1.254 1,784 27 15 2.141 -0.887 Guotai Junan Securities 19 1.848 547 2 - - 1.848 BNP Paribas 20 1.249 1,777 10 59 0.334 0.915 China Merchants Securities 20 1.720 509 2 22 1.354 0.366 TOTAL 100% 142,297 1,449 100% TOTAL 100% 29,591 166 100%
Bloomberg League Table Reports Page 17 Bloomberg Preliminary Global Equity | 1st 3Q 2018
APAC ex-Japan Equity, Equity Linked & Rights APAC ex-Japan Equity & Equity Linked 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 8.007 13,064 53 3 4.855 3.152 Goldman Sachs 1 8.612 12,489 50 1 5.795 2.817 Goldman Sachs 2 7.879 12,855 52 2 5.401 2.478 Citi 2 8.002 11,604 74 2 5.766 2.236 Citi 3 7.135 11,641 75 1 5.707 1.428 Morgan Stanley 3 7.460 10,817 49 3 5.089 2.371 UBS 4 5.897 9,621 53 4 4.109 1.788 China International Capital Corp 4 5.625 8,157 28 7 3.043 2.582 China International Capital Corp 5 5.000 8,157 28 6 3.030 1.970 Bank of America Merrill Lynch 5 5.332 7,731 21 8 2.855 2.477 Bank of America Merrill Lynch 6 4.761 7,768 22 10 2.548 2.213 UBS 6 4.653 6,747 43 6 3.251 1.402 Credit Suisse 7 4.044 6,597 49 9 2.592 1.452 Credit Suisse 7 4.342 6,296 48 9 2.521 1.821 JP Morgan 8 3.967 6,472 47 8 2.747 1.220 JP Morgan 8 4.041 5,859 42 12 2.296 1.745 China Securities 9 3.513 5,731 30 14 1.871 1.642 China Securities 9 3.297 4,781 28 14 2.097 1.200 CITIC Securities 10 2.886 4,709 35 5 3.899 -1.013 CITIC Securities 10 3.014 4,370 33 4 4.293 -1.279 Deutsche Bank 11 2.586 4,220 33 7 3.013 -0.427 Deutsche Bank 11 2.387 3,461 27 5 3.300 -0.913 China Merchants Securities 12 1.860 3,034 21 16 1.677 0.183 China Merchants Securities 12 2.092 3,034 21 15 1.879 0.213 Haitong Securities 13 1.727 2,818 33 12 2.349 -0.622 Haitong Securities 13 1.742 2,527 32 13 2.241 -0.499 BNP Paribas 14 1.696 2,767 15 49 0.518 1.178 HSBC 14 1.718 2,492 18 23 1.193 0.525 Macquarie 15 1.614 2,634 18 15 1.707 -0.093 BNP Paribas 15 1.698 2,462 13 60 0.349 1.349 HSBC 16 1.527 2,492 18 20 1.259 0.268 China Merchants Bank 16 1.588 2,303 16 42 0.591 0.997 China Merchants Bank 17 1.411 2,303 16 47 0.527 0.884 Huatai Securities 17 1.575 2,284 14 37 0.695 0.880 Huatai Securities 18 1.400 2,284 14 42 0.620 0.780 Guotai Junan Securities 18 1.217 1,765 17 19 1.329 -0.112 Guotai Junan Securities 19 1.260 2,056 18 17 1.676 -0.416 Agricultural Bank of China 19 1.172 1,700 19 52 0.453 0.719 Agricultural Bank of China 20 1.042 1,700 19 58 0.404 0.638 Bank of China 20 1.166 1,691 10 20 1.224 -0.058 TOTAL 100% 163,149 1,537 100% TOTAL 100% 145,007 1,428 100%
APAC ex-Japan Equity Offerings APAC ex-Japan Equity IPO 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) Citi 1 8.958 10,692 69 1 6.435 2.523 China International Capital Corp 1 9.742 6,889 21 5 3.379 6.363 Morgan Stanley 2 8.593 10,256 45 3 5.030 3.563 Goldman Sachs 2 6.068 4,291 23 40 0.784 5.284 Goldman Sachs 3 7.660 9,142 45 2 5.369 2.291 Bank of America Merrill Lynch 3 4.494 3,178 12 23 1.357 3.137 China International Capital Corp 4 6.122 7,306 24 13 2.114 4.008 CITIC Securities 4 4.084 2,888 26 2 4.402 -0.318 Bank of America Merrill Lynch 5 6.103 7,284 19 4 3.283 2.820 Morgan Stanley 5 3.910 2,765 19 15 1.624 2.286 UBS 6 5.243 6,257 40 8 2.727 2.516 UBS 6 3.677 2,600 15 14 1.749 1.928 Credit Suisse 7 3.490 4,165 37 7 2.798 0.692 Credit Suisse 7 3.559 2,517 18 16 1.594 1.965 JP Morgan 8 3.474 4,147 34 9 2.641 0.833 Citi 8 3.523 2,491 24 1 4.480 -0.957 CITIC Securities 9 2.837 3,387 30 5 3.176 -0.339 China Merchants Securities 9 3.382 2,392 18 7 3.079 0.303 China Merchants Securities 10 2.116 2,525 19 15 1.882 0.234 Deutsche Bank 10 2.913 2,060 16 22 1.359 1.554 Deutsche Bank 11 2.087 2,491 23 12 2.409 -0.322 China Merchants Bank 11 2.662 1,882 14 37 0.857 1.805 China Merchants Bank 12 1.929 2,303 16 37 0.679 1.250 China Securities 12 2.630 1,860 15 6 3.374 -0.744 HSBC 13 1.803 2,152 14 21 1.372 0.431 JP Morgan 13 2.603 1,841 15 12 2.208 0.395 China Securities 14 1.587 1,894 16 14 1.997 -0.410 Agricultural Bank of China 14 2.317 1,638 18 36 0.880 1.437 Haitong Securities 15 1.495 1,784 27 10 2.577 -1.082 Haitong Securities 15 2.229 1,576 24 4 3.939 -1.710 BNP Paribas 16 1.489 1,777 10 56 0.402 1.087 Industrial & Comm Bank of China 16 2.162 1,529 9 76 0.261 1.901 Agricultural Bank of China 17 1.424 1,700 19 47 0.521 0.903 Huatai Securities 17 2.155 1,524 12 24 1.350 0.805 China Construction Bank 18 1.359 1,622 17 33 0.853 0.506 China Construction Bank 18 2.135 1,510 14 21 1.431 0.704 Industrial & Comm Bank of China 19 1.295 1,546 10 83 0.184 1.111 Guotai Junan Securities 19 1.698 1,200 12 9 2.535 -0.837 Huatai Securities 20 1.277 1,524 12 34 0.799 0.478 HSBC 20 1.690 1,195 7 34 0.934 0.756 TOTAL 100% 119,350 1,282 100% TOTAL 100% 70,712 598 100%
Bloomberg League Table Reports Page 18 Bloomberg Preliminary Global Equity | 1st 3Q 2018
APAC ex-Japan Equity Linked APAC ex-Japan Equity, EQL & Rights ex-CH A Shrs 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 12.847 3,347 5 4 8.633 4.214 Morgan Stanley 1 9.909 13,064 53 3 6.027 3.882 China Securities 2 11.081 2,887 12 11 2.759 8.322 Citi 2 8.670 11,430 73 1 7.564 1.106 Credit Suisse 3 8.179 2,131 11 27 0.681 7.498 Goldman Sachs 3 8.464 11,158 43 2 6.553 1.911 JP Morgan 4 6.573 1,712 8 - - 6.573 UBS 4 7.247 9,554 52 4 4.951 2.296 CITIC Securities 5 3.775 983 3 1 11.737 -7.962 Bank of America Merrill Lynch 5 5.892 7,768 22 7 3.672 2.220 Deutsche Bank 6 3.726 971 4 3 9.233 -5.507 Credit Suisse 6 4.815 6,347 48 8 3.541 1.274 Citi 7 3.502 912 5 19 1.306 2.196 JP Morgan 7 4.719 6,222 46 6 3.836 0.883 China International Capital Corp 8 3.264 850 4 2 9.233 -5.969 Deutsche Bank 8 2.999 3,954 30 5 3.863 -0.864 Minsheng Securities 9 2.970 774 5 - - 2.970 BNP Paribas 9 2.099 2,767 15 35 0.747 1.352 Huatai Securities 10 2.917 760 2 - - 2.917 Macquarie 10 1.998 2,634 18 10 2.461 -0.463 Haitong Securities 11 2.849 742 5 - - 2.849 HSBC 11 1.890 2,492 18 11 1.814 0.076 Bank of China 12 2.799 729 2 10 3.572 -0.773 CITIC Securities 12 1.863 2,456 24 22 1.192 0.671 BNP Paribas 13 2.632 686 3 - - 2.632 China International Capital Corp 13 1.795 2,366 18 15 1.418 0.377 Zhongtai Securities 14 2.344 611 2 - - 2.344 Haitong Securities 14 1.751 2,308 26 16 1.407 0.344 Morgan Stanley 15 2.152 561 4 6 5.481 -3.329 China Merchants Bank 15 1.747 2,303 16 33 0.760 0.987 Guotai Junan Securities 16 2.099 547 2 - - 2.099 China Merchants Securities 16 1.324 1,745 13 29 0.879 0.445 Changjiang Securities 17 2.089 544 2 - - 2.089 Agricultural Bank of China 17 1.289 1,700 19 43 0.583 0.706 China Merchants Securities 18 1.954 509 2 18 1.856 0.098 China Construction Bank 18 1.231 1,622 17 21 1.205 0.026 UBS 19 1.882 490 3 5 6.742 -4.860 Industrial & Comm Bank of China 19 1.173 1,546 10 73 0.206 0.967 Fubon Securities Co 20 1.782 464 10 13 2.708 -0.926 Kotak Mahindra Bank Ltd 20 0.997 1,315 13 25 1.069 -0.072 TOTAL 100% 26,051 146 100% TOTAL 100% 131,835 1,397 100%
Bloomberg League Table Reports Page 19 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Australia/New Zealand Equity, EQL & Rights Australia/New Zealand Equity & Rights Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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(%) UBS 1 23.514 4,338 18 2 16.376 7.138 UBS 1 24.245 4,338 18 2 16.376 7.869 Macquarie 2 13.333 2,460 14 1 17.674 -4.341 Macquarie 2 13.748 2,460 14 1 17.674 -3.926 Morgan Stanley 3 13.154 2,427 7 7 3.975 9.179 Morgan Stanley 3 13.563 2,427 7 7 3.975 9.588 Deutsche Bank 4 7.663 1,414 9 17 1.584 6.079 Deutsche Bank 4 6.367 1,139 8 17 1.584 4.783 JP Morgan 5 4.840 893 11 3 7.105 -2.265 JP Morgan 5 4.990 893 11 3 7.105 -2.115 Citi 6 4.804 886 13 5 4.877 -0.073 Citi 6 4.954 886 13 5 4.877 0.077 Morgans 7 3.900 720 31 8 3.760 0.140 Morgans 7 4.022 720 31 8 3.760 0.262 Bank of America Merrill Lynch 8 3.546 654 1 22 0.801 2.745 Bank of America Merrill Lynch 8 3.656 654 1 22 0.801 2.855 Bell Potter Securities Ltd 9 2.544 469 40 9 3.685 -1.141 Bell Potter Securities Ltd 9 2.623 469 40 9 3.685 -1.062 Hartleys Ltd 10 1.970 363 24 16 1.730 0.240 Hartleys Ltd 10 2.031 363 24 16 1.730 0.301 Wilsons Corporate Finance Ltd 11 1.892 349 12 21 1.249 0.643 Wilsons Corporate Finance Ltd 11 1.951 349 12 21 1.249 0.702 Taylor Collison Ltd 12 1.774 327 17 13 2.204 -0.430 Taylor Collison Ltd 12 1.830 327 17 13 2.204 -0.374 Goldman Sachs 13 1.704 314 4 4 5.283 -3.579 Ord Minnett Ltd 13 1.744 312 6 18 1.475 0.269 Ord Minnett Ltd 14 1.692 312 6 18 1.475 0.217 Euroz Securities 14 1.576 282 14 15 2.112 -0.536 Euroz Securities 15 1.528 282 14 15 2.112 -0.584 National Australia Bank 15 1.520 272 3 - - 1.520 National Australia Bank 16 1.474 272 3 - - 1.474 Goldman Sachs 16 0.967 173 3 4 5.283 -4.316 Credit Suisse 17 0.934 172 2 14 2.145 -1.211 Canaccord Genuity 17 0.941 168 13 6 4.859 -3.918 Canaccord Genuity 18 0.913 168 13 6 4.859 -3.946 Patersons Securities Ltd 18 0.575 103 30 24 0.707 -0.132 Patersons Securities Ltd 19 0.558 103 30 24 0.707 -0.149 Argonaut Ltd 19 0.541 97 15 20 1.316 -0.775 Argonaut Ltd 20 0.525 97 15 20 1.316 -0.791 Petra Capital Pty Ltd 20 0.452 81 5 23 0.762 -0.310 TOTAL 100% 18,448 420 100% TOTAL 100% 17,891 418 100%
China Equity, Equity Linked & Rights China Equity IPO 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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 16.311 73,740 31 4 6.549 9.762 China International Capital Corp 1 29.343 31,691 6 7 5.242 24.101 China International Capital Corp 2 13.071 59,093 15 3 6.838 6.233 CITIC Securities 2 10.850 11,718 10 2 8.186 2.664 CITIC Securities 3 10.570 47,786 25 1 11.318 -0.748 Huatai Securities 3 7.188 7,763 7 12 2.834 4.354 Huatai Securities 4 9.816 44,377 20 6 5.084 4.732 China Securities 4 6.482 7,001 6 3 6.959 -0.477 Guotai Junan Securities 5 9.172 41,468 19 2 7.504 1.668 Guosen Securities 5 4.971 5,369 2 5 5.792 -0.821 Bank of China 6 4.706 21,274 3 15 2.270 2.436 China Merchants Securities 6 4.765 5,146 6 10 4.131 0.634 Guosen Securities 7 3.978 17,986 12 7 3.839 0.139 Guotai Junan Securities 7 3.490 3,769 4 8 4.860 -1.370 Goldman Sachs 8 2.841 12,843 11 13 2.607 0.234 Industrial Securities 8 3.360 3,629 3 14 2.310 1.050 China Merchants Securities 9 2.249 10,169 12 11 2.893 -0.644 GF Securities 9 3.218 3,476 6 1 8.298 -5.080 GF Securities 10 2.148 9,712 18 8 3.775 -1.627 Zheshang Securities 10 2.475 2,673 2 23 1.186 1.289 Huafu Securities 11 1.589 7,184 1 32 0.797 0.792 Goldman Sachs 11 2.310 2,495 2 - - 2.310 Dongxing Securities 12 1.556 7,036 12 20 1.600 -0.044 Haitong Securities 12 2.215 2,393 5 4 6.646 -4.431 Shenwan Hongyuan Group 13 1.527 6,904 3 12 2.714 -1.187 Guoyuan Securities 13 1.406 1,519 1 19 1.631 -0.225 Minsheng Securities 14 1.460 6,599 9 35 0.753 0.707 Central China Securities 14 1.275 1,377 1 - - 1.275 Citi 15 1.436 6,494 6 17 1.711 -0.275 Citi 15 1.264 1,365 2 15 2.245 -0.981 Haitong Securities 16 1.269 5,737 13 5 5.112 -3.843 Great Wall Securities 16 1.148 1,240 3 24 1.142 0.006 Industrial Securities 17 1.248 5,643 6 10 2.902 -1.654 Ping An Insurance Group 17 1.140 1,231 2 20 1.428 -0.288 Changjiang Securities 18 1.207 5,456 5 39 0.484 0.723 China Dragon Securities 18 0.995 1,074 1 43 0.227 0.768 Deutsche Bank 19 0.989 4,472 6 18 1.676 -0.687 Lian Chu Securities 18 0.995 1,074 1 - - 0.995 Zhongtai Securities 20 0.914 4,131 3 27 0.875 0.039 China Galaxy Financial Holdings 20 0.973 1,051 2 52 0.170 0.803 TOTAL 100% 452,101 262 100% TOTAL 100% 108,003 80 100%
Bloomberg League Table Reports Page 20 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Hong Kong Equity & Rights Offerings Hong Kong Equity Offerings 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 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 13.259 6,946 19 2 9.422 3.837 Morgan Stanley 1 13.567 6,946 19 2 10.228 3.339 Bank of America Merrill Lynch 2 8.264 4,329 4 3 5.831 2.433 Bank of America Merrill Lynch 2 8.456 4,329 4 3 6.330 2.126 Citi 3 7.909 4,143 10 6 4.324 3.585 Citi 3 8.092 4,143 10 4 4.694 3.398 Goldman Sachs 4 7.291 3,819 16 1 13.105 -5.814 Goldman Sachs 4 7.460 3,819 16 1 14.228 -6.768 UBS 5 6.354 3,328 20 16 1.893 4.461 UBS 5 6.501 3,328 20 16 2.055 4.446 China Merchants Bank 6 4.396 2,303 16 10 2.796 1.600 China Merchants Bank 6 4.498 2,303 16 9 3.035 1.463 China International Capital Corp 7 3.454 1,809 13 8 2.950 0.504 China International Capital Corp 7 3.534 1,809 13 8 3.202 0.332 HSBC 8 3.360 1,760 10 13 2.307 1.053 HSBC 8 3.438 1,760 10 12 2.504 0.934 China Merchants Securities 9 3.292 1,724 12 7 3.236 0.056 China Merchants Securities 9 3.368 1,724 12 6 3.513 -0.145 Agricultural Bank of China 10 3.244 1,700 19 14 2.144 1.100 Agricultural Bank of China 10 3.320 1,700 19 13 2.328 0.992 Haitong Securities 11 3.128 1,638 21 4 4.967 -1.839 China Construction Bank 11 3.169 1,622 17 5 3.859 -0.690 China Construction Bank 12 3.097 1,622 17 5 4.480 -1.383 JP Morgan 12 3.085 1,580 10 18 1.490 1.595 JP Morgan 13 3.015 1,580 10 19 1.372 1.643 Industrial & Comm Bank of China 13 3.019 1,546 10 26 0.821 2.198 Industrial & Comm Bank of China 14 2.951 1,546 10 28 0.757 2.194 Haitong Securities 14 2.631 1,347 20 7 3.385 -0.754 CITIC Securities 15 2.477 1,298 13 12 2.386 0.091 CITIC Securities 15 2.534 1,298 13 11 2.591 -0.057 BNP Paribas 16 1.957 1,025 6 24 0.881 1.076 BNP Paribas 16 1.877 961 5 24 0.957 0.920 Bank of China 17 1.753 918 7 15 1.976 -0.223 Bank of China 17 1.793 918 7 15 2.146 -0.353 Guotai Junan Securities 18 1.751 917 12 17 1.522 0.229 China Securities 18 1.549 793 10 31 0.655 0.894 China Securities 19 1.514 793 10 31 0.603 0.911 AMTD Global Markets Ltd 19 1.424 729 7 28 0.755 0.669 AMTD Global Markets Ltd 20 1.391 729 7 29 0.695 0.696 Guotai Junan Securities 20 1.222 626 11 22 1.096 0.126 TOTAL 100% 52,386 293 100% TOTAL 100% 51,198 275 100%
India Equity & Rights Offering Indonesia Equity & Rights Offering 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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(%) Citi 1 16.863 138,006 14 1 14.325 2.538 CITIC Securities 1 15.944 4,085,498 3 5 7.181 8.763 Kotak Mahindra Bank Ltd 2 10.567 86,481 13 9 5.399 5.168 BNP Paribas 2 13.336 3,417,160 1 8 6.133 7.203 Axis Bank Ltd 3 8.967 73,385 12 8 5.499 3.468 Nomura 2 13.336 3,417,160 1 - - 13.336 State Bank of India 4 8.646 70,760 11 10 4.634 4.012 Ciptadana Sekuritas 4 7.820 2,003,911 2 16 1.256 6.564 ICICI 5 8.307 67,983 12 2 8.269 0.038 Mandiri Sekuritas PT 5 7.206 1,846,579 5 1 13.794 -6.588 Morgan Stanley 6 8.010 65,557 6 3 6.537 1.473 Indo Premier Securities 6 5.496 1,408,266 3 15 1.276 4.220 JM Financial Ltd 7 5.059 41,403 12 7 5.764 -0.705 UOB Kay Hian Pvt Ltd 7 4.414 1,130,999 4 22 0.490 3.924 HDFC Bank 8 3.835 31,385 4 24 0.845 2.990 Morgan Stanley 8 4.086 1,047,000 1 6 6.577 -2.491 Edelweiss Financial Services Ltd 9 3.730 30,523 10 11 3.568 0.162 Danareksa Sekuritas PT 9 2.966 760,132 3 12 3.125 -0.159 Bank of America Merrill Lynch 10 3.563 29,159 4 5 6.293 -2.730 Bahana Securities 10 2.923 749,000 2 10 5.402 -2.479 IIFL Holdings Ltd 11 3.249 26,588 10 4 6.332 -3.083 CIMB 11 2.666 683,248 3 20 0.799 1.867 JP Morgan 12 2.715 22,220 5 13 2.844 -0.129 Danatama Makmur PT 12 2.342 600,000 1 - - 2.342 Credit Suisse 13 2.216 18,135 6 16 2.069 0.147 NH Korindo Sekuritas Indonesia PT 13 2.243 574,632 3 - - 2.243 CITIC Securities 14 1.954 15,989 5 21 1.219 0.735 Citi 14 1.912 490,018 1 - - 1.912 Motilal Oswal Investment Advisors 15 1.674 13,699 5 12 3.062 -1.388 Credit Suisse 14 1.912 490,018 1 2 12.710 -10.798 Goldman Sachs 16 1.640 13,423 3 18 1.489 0.151 DBS Group 14 1.912 490,018 1 4 7.237 -5.325 Yes Bank 17 0.908 7,433 3 14 2.824 -1.916 Kresna Sekuritas PT 17 1.203 308,334 1 - - 1.203 IDFC Bank Ltd 18 0.896 7,331 4 17 1.514 -0.618 MNC Securities Tbk PT 18 1.015 260,000 1 18 1.084 -0.069 IDBI Bank Ltd 19 0.802 6,561 3 23 1.075 -0.273 Sinarmas Securities PT 19 0.982 251,508 2 19 1.070 -0.088 Aryaman Financial Services Ltd 20 0.775 6,346 18 34 0.182 0.593 Lotus Andalan Sekuritas PT 20 0.954 244,500 1 14 1.307 -0.353 TOTAL 100% 818,395 163 100% TOTAL 100% 25,624,049 37 100%
Bloomberg League Table Reports Page 21 Bloomberg Preliminary Global Equity | 1st 3Q 2018
Malaysia Equity & Rights Offering Singapore Equity & Rights Offering 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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(%) Maybank 1 17.578 758 3 3 9.902 7.676 Citi 1 30.729 1,060 10 6 7.091 23.638 RHB 2 17.046 735 7 4 6.794 10.252 DBS Group 2 22.704 783 14 1 23.043 -0.339 BNP Paribas 3 11.563 499 1 - - 11.563 Goldman Sachs 3 16.087 555 2 - - 16.087 Kenanga Investment Bank Bhd 4 7.803 337 12 12 2.475 5.328 HSBC 4 5.589 193 3 4 7.719 -2.130 AmInvestment Bank Bhd 5 7.236 312 6 15 0.491 6.745 Bank of America Merrill Lynch 5 4.540 157 3 3 8.046 -3.506 CIMB 6 7.213 311 2 1 27.089 -19.876 CITIC Securities 6 2.858 99 1 23 0.184 2.674 JP Morgan 7 7.068 305 1 5 6.536 0.532 UOB Kay Hian Pvt Ltd 7 2.392 83 5 10 3.368 -0.976 Affin Hwang Capital 8 6.667 288 3 11 2.957 3.710 Maybank 8 1.930 67 3 12 1.231 0.699 UOB Kay Hian Pvt Ltd 9 4.915 212 9 7 4.620 0.295 Credit Suisse 9 1.854 64 2 15 1.058 0.796 M&A Securities Sdn Bhd 10 3.811 164 17 13 1.102 2.709 BNP Paribas 10 1.590 55 1 9 5.279 -3.689 TA Securities Holdings Bhd 11 2.818 122 23 14 0.678 2.140 UBS 11 1.583 55 1 2 10.677 -9.094 Alliance Bank Malaysia Bhd 12 2.225 96 3 21 0.040 2.185 JP Morgan 12 1.568 54 1 - - 1.568 Public Bank Berhad 13 1.563 67 6 18 0.121 1.442 Bank of China 13 1.264 44 1 13 1.136 0.128 Mercury Securities Sdn Bhd 14 1.275 55 8 16 0.465 0.810 China International Capital Corp 13 1.264 44 1 - - 1.264 MIDF Amanah Investment Bank Bhd 15 0.400 17 1 20 0.071 0.329 Haitong Securities 13 1.264 44 1 13 1.136 0.128 Inter-Pacific Securities 16 0.279 12 4 - - 0.279 SAC Capital Private Ltd 16 1.213 42 1 20 0.833 0.380 KAF Investment Bank Bhd 17 0.224 10 3 19 0.083 0.141 Canaccord Genuity 17 0.629 22 2 - - 0.629 DWA Advisory Sdn Bhd 18 0.129 6 1 - - 0.129 RHT Capital Pte Ltd 18 0.365 13 2 25 0.094 0.271 Hong Leong Financial Group Bhd 19 0.116 5 1 17 0.360 -0.244 PrimePartners Corporate Finance Pte Ltd 19 0.364 13 2 21 0.488 -0.124 MainStreet Advisers Sdn Bhd 20 0.071 3 1 - - 0.071 KGI Securities 20 0.137 5 1 - - 0.137 TOTAL 100% 4,314 100 100% TOTAL 100% 3,449 29 100%
Taiwan Equity & Equity Linked Thailand Equity & Rights Offering 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
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(%) Yuanta Securities Co Ltd 1 18.402 14,761 11 3 16.546 1.856 Bangkok Bank PCL 1 25.146 30,750 10 2 18.951 6.195 Fubon Securities Co 2 17.429 13,981 16 1 24.905 -7.476 Siam Commercial Bank PCL 2 19.070 23,321 5 1 34.958 -15.888 BNP Paribas 3 14.541 11,664 1 - - 14.541 Credit Suisse 3 17.723 21,672 4 14 1.405 16.318 Taishin Financial Holding Co Ltd 4 13.564 10,880 16 5 7.375 6.189 Krung Thai Bank 4 10.950 13,391 2 9 2.110 8.840 KGI Securities 5 9.890 7,933 17 2 20.024 -10.134 Morgan Stanley 5 10.867 13,289 3 - - 10.867 Grand Fortune Securities Co 6 4.986 3,999 8 6 4.065 0.921 Phatra Securities PCL 6 8.550 10,456 3 6 4.373 4.177 SinoPac Financial Holdings Co Ltd 7 3.507 2,813 10 4 10.203 -6.696 Bank of America Merrill Lynch 7 4.353 5,324 1 - - 4.353 Morgan Stanley 8 2.255 1,809 1 - - 2.255 KT ZMICO Securities Co Ltd 8 0.837 1,023 1 21 0.195 0.642 Mega Financial Holding Co Ltd 9 2.014 1,615 2 - - 2.014 Nomura 9 0.760 930 1 17 0.560 0.200 Concord Securities 10 1.912 1,534 3 19 0.489 1.423 Tisco Bank PCL 10 0.754 922 1 5 4.926 -4.172 First Securities Inc 11 1.751 1,405 5 15 0.826 0.925 AEC Securities PCL 11 0.414 507 2 - - 0.414 Capital Securities Corp 12 1.490 1,195 6 11 1.219 0.271 Finansia Syrus Securities PCL 12 0.356 436 1 16 0.560 -0.204 Cathay Securities Co Ltd 13 1.440 1,155 4 8 2.473 -1.033 KGI Securities 13 0.110 135 1 13 1.482 -1.372 Taiwan Cooperative Securities Co Ltd 14 1.121 899 4 14 0.879 0.242 Asset Pro Management Co Ltd 14 0.109 133 1 - - 0.109 Waterland Securities Co Ltd 15 1.054 845 5 13 0.894 0.160 ------Masterlink Securities 16 1.010 810 4 17 0.708 0.302 ------Mega Securities Co Ltd 17 0.954 765 5 12 0.993 -0.039 ------Friendly Securities Co Ltd 18 0.748 600 1 - - 0.748 ------President Securities 19 0.545 437 3 9 1.786 -1.241 ------Jih Sun Securities Co Ltd 20 0.544 436 3 21 0.177 0.367 ------TOTAL 100% 80,216 132 100% TOTAL 100% 122,287 28 100%
Bloomberg League Table Reports Page 22 Bloomberg Preliminary Global Equity | 1st 3Q 2018
South Korea Equity Offerings Japan Equity Offerings (Fiscal Year) 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (KRW Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Citi 1 23.260 2,247,779 10 2 9.311 13.949 JP Morgan 1 17.434 309,720 3 5 12.666 4.768 Goldman Sachs 2 21.104 2,039,412 5 6 6.765 14.339 Sumitomo Mitsui Financial 2 15.445 274,381 34 6 11.885 3.560 Daishin Securities 3 14.377 1,389,390 12 16 0.886 13.491 Nomura 3 13.929 247,444 33 2 16.978 -3.049 NH Investment & Securities Co Ltd 4 8.548 826,013 8 1 23.242 -14.694 Goldman Sachs 4 13.585 241,345 1 8 2.109 11.476 JP Morgan 5 6.810 658,125 1 5 7.135 -0.325 Daiwa Securities 5 11.178 198,578 22 1 17.445 -6.267 UBS 6 4.152 401,280 1 10 4.045 0.107 Morgan Stanley 6 10.430 185,286 17 3 14.612 -4.182 Mirae Asset Daewoo Co Ltd 7 3.909 377,790 7 4 8.747 -4.838 Mizuho Financial 7 9.739 173,012 30 4 12.763 -3.024 Korea Investment & Securities Co 8 3.679 355,505 7 3 8.902 -5.223 Bank of America Merrill Lynch 8 3.849 68,375 2 7 8.773 -4.924 Credit Suisse 9 3.381 326,696 2 13 2.965 0.416 Citi 9 1.650 29,316 3 - - 1.650 Shinhan Financial Group Co Ltd 10 2.491 240,681 4 18 0.726 1.765 SBI Holdings Inc/Japan 10 1.138 20,219 7 9 1.066 0.072 KB Securities Co Ltd 11 2.332 225,349 5 7 5.386 -3.054 Credit Suisse 11 0.934 16,591 1 11 0.368 0.566 Kiwoom Securities Co Ltd 12 1.380 133,327 4 20 0.575 0.805 UBS 12 0.236 4,190 1 12 0.261 -0.025 Shinyoung Securities Co Ltd 13 0.546 52,750 2 24 0.129 0.417 Deutsche Bank 13 0.200 3,560 1 10 0.703 -0.503 Samsung Securities Co Ltd 14 0.523 50,575 2 9 4.202 -3.679 Tokai Tokyo Securities Co Ltd 14 0.114 2,019 2 13 0.207 -0.093 DB Financial Investment Co Ltd 15 0.520 50,210 2 - - 0.520 Okasan Securities Group Inc 15 0.083 1,473 2 15 0.062 0.021 Eugene Investment & Securities Co Ltd 16 0.519 50,200 3 - - 0.519 Macquarie 16 0.057 1,006 1 - - 0.057 Hana Financial Group Inc 17 0.487 47,025 4 21 0.521 -0.034 ------SK Securities 18 0.484 46,800 1 27 0.064 0.420 ------Industrial Bank of Korea 19 0.426 41,200 3 26 0.096 0.330 ------Yuanta Financial Holding Co Ltd 20 0.338 32,650 2 - - 0.338 ------TOTAL 100% 9,663,698 78 100% TOTAL 100% 1,776,515 105 100%
Japan Equity IPO (Fiscal Year) Japan Equity & Equity Linked (Fiscal Year) 1st 3Q 2018 1st 3Q 2017 1st 3Q 2018 1st 3Q 2017
Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Firm Rank Mkt Share(%) Volume (JPY Mln) Deal Count Prev Rank Prev Mkt Share(%) Mkt Share Chg(%) Nomura 1 29.047 113,861 9 2 30.384 -1.337 Nomura 1 17.228 357,076 41 1 25.795 -8.567 Sumitomo Mitsui Financial 2 18.461 72,363 11 1 37.504 -19.043 JP Morgan 2 15.649 324,352 5 5 10.615 5.034 Daiwa Securities 3 16.421 64,369 7 4 4.302 12.119 Sumitomo Mitsui Financial 3 14.348 297,381 36 6 9.961 4.387 Morgan Stanley 4 15.768 61,809 5 3 21.821 -6.053 Daiwa Securities 4 12.958 268,578 25 2 19.247 -6.289 Mizuho Financial 5 11.830 46,371 13 5 2.919 8.911 Goldman Sachs 5 12.350 255,977 3 8 1.768 10.582 Bank of America Merrill Lynch 6 3.056 11,978 1 - - 3.056 Morgan Stanley 6 10.369 214,918 21 3 12.246 -1.877 JP Morgan 6 3.056 11,978 1 - - 3.056 Mizuho Financial 7 10.018 207,644 33 4 10.696 -0.678 SBI Holdings Inc/Japan 8 1.834 7,188 6 6 1.357 0.477 Bank of America Merrill Lynch 8 3.299 68,375 2 7 7.353 -4.054 Tokai Tokyo Securities Co Ltd 9 0.353 1,385 1 8 0.609 -0.256 Citi 9 1.414 29,316 3 - - 1.414 Okasan Securities Group Inc 10 0.175 685 1 9 0.350 -0.175 SBI Holdings Inc/Japan 10 0.975 20,219 7 9 0.894 0.081 ------Credit Suisse 11 0.800 16,591 1 11 0.308 0.492 ------UBS 12 0.202 4,190 1 12 0.219 -0.017 ------Deutsche Bank 13 0.172 3,560 1 10 0.589 -0.417 ------Tokai Tokyo Securities Co Ltd 14 0.097 2,019 2 13 0.173 -0.076 ------Okasan Securities Group Inc 15 0.071 1,473 2 15 0.052 0.019 ------Macquarie 16 0.049 1,006 1 - - 0.049 ------TOTAL 100% 391,988 43 100% TOTAL 100% 2,072,675 119 100%
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.