MORGAN STANLEY RIDES THE GROWING ASIAN ECM WAVE

摘要

THE PAST 12 MONTHS have been busy for equity capital markets (ECM) everywhere, but nowhere more than in Asia-Pacific, where 2020 share issue volumes threatened to double year-on-year. If you exclude China A-shares (mainland issues in local currency), the Morgan Stanley team has led the regional ECM rankings every year since 2014. Last year, in spite of health scares and volatility, non-A-share Asia-Pacific equity issuance, including convertibles and rights issues, rose by 82% to hit $290bn, according to Bloomberg. Morgan Stanley topped the ECM investment banking rankings, with 129 deals worth $30.7bn, followed by Goldman Sachs (118; $29.lbn)and JPMorgan(87; $18.7bn). At the end of February, Morgan Stanley was leading 2021 year-to-date volumes.