Thomson Reuters Asia IBScorecard, July 28 2011

Thomson Reuters Asia IB Scorecard, July 28 2011

Asia GDR Issuance soars 13x

Taiwanese steelmaker China Steel Corp., has listed a global depository receipt of US$744 million, the largest of its kind so far this year. Asia GDR issuance has soared 13x to the highest level since 2007, increasing from only US$122 million at this point last year to the current high of US$1.7 billion, driven by four placements in Taiwan valued at US$893 million. Placements in the Materials sector leads GDR growth, with US$700 million in deal values.

Australian Inbound M&A up 48%

Australian M&A activity is at its highest level of activity since 2009, with deal values reaching US$91.1 billion from 892 deals to date. The momentum is driven by inbound acquisitions of US$33 billion, an increase of 48% from the same period last year. The biggest announced deal this year is SAB Miller's acquisition of Foster's Group, an Australian based beverage group for US$12.5 billion. Consumer Staples is the most targeted industry for inbound acquisitions, accounting for US$13.1 billion from 15 deals.

Follow-Ons exceed IPOs in Asia

Asia ex Japan IPOs have slowed to a total of US$54.3 billion as secondary equity offerings have surpassed new offerings with proceeds of US$64.2 billion from 729 follow-on issues. As compared to last year at this point in time, IPOs are down 25% while Follow-Ons have grown by 6% consecutively. Goldman Sachs leads the year-to-date rankings for Asia ECM, followed by UBS and Morgan Stanley.

To see the Asia Pacific Investment Banking Scorecard click here.

ENDS

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