AsiaPac equity issuance up 20 pct as China speeds up IPO approvals

By Elzio Barreto

HONG KONG, March 31 (Reuters) - Share sales on Asia ex-Japan

stock exchanges climbed 20 percent in the first quarter, buoyed

by a surge in initial public offerings (IPOs) as China's

regulator stepped up the approval of new listings in the world's

second largest economy, Thomson Reuters data showed on Friday.

Proceeds in equity capital markets (ECM) in the region rose

to $36.9 billion in the first quarter versus $30.8 billion in

the first quarter of 2016, according to preliminary data through

March 30.

IPO issuance jumped 68.4 percent to $12.4 billion, led by a

steep increase in deals in mainland China stock exchanges that

put Shanghai as the main destination for new listings in the

region and second in the world, behind the New York Stock

Exchange (NYSE). Follow-on offerings, or the sale of new and

existing shares in listed companies, edged 4.8 percent higher to

$24.5 billion.

The China Securities Regulatory Commission (CSRC) has

increased the pace of IPO approvals in recent months to reduce

the queue of nearly 700 companies waiting to go public, granting

the most number of deals since the second quarter of 2015, data


Goldman Sachs led equity underwriting in the Asia Pacific

region, handling $3.4 billion worth of deals, though Chinese

securities companies that dominate domestic equity issuance took

six of the top 10 spots in rankings.

Chinese firms' grip of local markets put them at the top

seven spots in a ranking of fees earned on equity deals, with

Haitong Securities taking the lead.

Following is a list of the region's top ECM underwriters in

the first quarter of 2017 and the estimated fees earned on the


Bank Deal Volume Change from Rank Rank

(in $mln) Q1 2016 2017 2016

Goldman Sachs 3,435 399 pct 1 14

Guotai Junan Secs 2,492 16.3 pct 2 1

CITIC 2,015 2.6 pct 3 2

Haitong Securities 1,718 55.3 pct 4 6

UBS 1,692 167.8 pct 5 16

CICC 1,673 75.1 pct 6 10

China Securities 1,601 458.6 pct 7 32

Citigroup 1,394 59.3 pct 8 12

Bank of America 937 222.5 pct 9 31

GF Securities 927 -15.8 pct 10 7

INDUSTRY TOTAL 36,933 20.0 pct

Source: Thomson Reuters

Bank Q1 2017 fees Change from

(in $mln) Q1 2016

Haitong Securities 77.1 69.3 pct

GF Securities 73.8 133.8 pct

CITIC 72.3 54.1 pct

Guotai Junan Securities 71.7 72.5 pct

China Securities 59.3 445.6 pct

Huatai Securities 56.4 164.9 pct

CICC 51.3 182.4 pct

Citigroup 47.6 201.3 pct

Goldman 44.6 280.7 pct

UBS 37.8 347.3 pct

INDUSTRY TOTAL 1,323 84.9 pct

Source: Thomson Reuters

(Reporting by Elzio Barreto; Editing by Amrutha Gayathri)