GLOBAL EQUITY CAPITAL MARKET - Bloomberg Finance L.P.1 Global Equity Review Q1 2016 credited Global...

GLOBALEQUITY CAPITAL MARKETLEAGUE TABLES

Q1 2016

CONTENTS

1. Global market review

2. US market review

3. Canada market review

4. Latin America market review

5. EMEA market review

6. Asia market review

7. Table criteria

DATA SUBMISSIONS AND QUERIES

Contact Phone Email

North America Elizabeth Entrup

Irina Arefyeva

+1 646 324 4666

+1 646 324 4663

[email protected]

[email protected]

EMEA Karan Aswani +44 20 3525 4331 [email protected]

Asia Pacific Billy Sun +886 2 7719 1571 [email protected]

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 and 500 legal advisors.

LEAG<GO> for a full range of league tables

IPO<GO> for Bloomberg’s equity offerings product

Due to the dynamic nature of the Professional Service product, league table rankings may vary between this release and data found on the Bloomberg Professional Service.

Q1 2016

MANAGER RANKINGS

GLOBAL EQUITY, EQUITY LINKED & RIGHTS

© 2015 Bloomberg Finance L.P. All rights reserved.

1

GlobalEquityReviewQ12016creditedGlobalEquity,EquityLinked&Rightsvolumedecreased56.27%toUSD102.5Blnwhiledealcountdecreased42.90%to627offeringsyear-on-year.GlobalEquityIPOvolumedecreased65.23%year-on-yeartoUSD14.1Blnwhilethedealcountdecreased36.23%to176.GlobalEquityLinkedvolumedecreased41.99%year-on-yeartoUSD15.8Blnover61deals.JPMorganrankedasthetopGlobalEquity,EquityLinked&RightsunderwriterforQ12016with9.57%marketshare.Thebankunderwrote55dealsovertheperiod.GoldmanSachsandBankofAmericaMerrillLynchrankedsecondandthirdwith9.18%and7.06%marketshare,respectively.

GlobalEquity,EquityLinked&Rights:HighlightsofQ12016

GlobalEquity,EquityLinked&Rights:QuarterlyVolume

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

100100

200200

300300

USDBln

USDBln

00

400400

500500

1,0001,000

1,5001,500 dea D

eal Count

00

DealCount Rights Equity-Linked IPO

Add'l

TopUnderwriterJPMorgan

Numberofdeals 55

Volume(USDMln) 9,809

AvgDealsize(USDMln) 178.3

MarketSummaryNumberofdeals 627



Issuer Industry Volume(USDMln) Date

SaipemSpA Energy 3,965 02/11/2016

TransCanadaCorp Energy 3,399 03/17/2016

MolsonCoorsBrewingCo ConsumerStaples 2,585 01/28/2016

BaxaltaInc HealthCare 2,409 03/16/2016

VodafoneGroupPLC Communications 2,067 02/19/2016


IndustrialSecuritiesCoLtd Financials 1,864 01/18/2016

ChinaZheshangBankCoLtd Financials 1,685 03/21/2016

EnbridgeInc Energy 1,673 02/24/2016

PioneerNaturalResourcesCo Energy 1,615 01/05/2016

Technology27%

Financials18%

Energy16%

HealthCare9%

Materials7%

ConsumerDiscretionary6%

Industrials5%

Others11%

GlobalEquity,EquityLinked&Rights:IndustryBreakdown

GlobalEquity,EquityLinked&Rights:IndustryBreakdown

Industry Volume(USDMln) %OfTotal %YOYChange

Technology 41,215 27.1% 188.3%

Financials 27,776 18.3% -67.1%

Energy 25,027 16.5% -20.4%

HealthCare 13,043 8.6% -61.4%

Materials 10,346 6.8% 13.7%

ConsumerDiscretionary 9,688 6.4% -65.4%

Industrials 7,654 5.0% -62.8%

Communications 7,297 4.8% -61.3%

ConsumerStaples 6,194 4.1% -6.8%

Utilities 3,722 2.4% -60.4%

GlobalEquity,EquityLinked&Rights:OfferingBreakdown

OfferingType Volume(USDMln) %OfTotal %YOYChange

AdditionalOfferings 65,823 43.3% -58.2%

Equity-Linked 57,251 37.7% 33.4%

RightsOfferings 14,630 9.6% 91.7%

IPO 14,331 9.4% -66.9%

27%

18%

16%

9%

7%

6%

5%

11%

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GlobalEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount PrevRank PrevMktShare(%) MktShareChg(%)

JPMorgan 1 9.57 9,809 55 2 8.82 0.75

GoldmanSachs 2 9.18 9,407 47 1 10.61 -1.43

BankofAmericaMerrillLynch

3 7.06 7,234 43 4 7.59 -0.53

MorganStanley 4 6.99 7,161 39 3 8.33 -1.34

Citi 5 4.89 5,013 32 7 5.29 -0.40

UBS 6 4.69 4,804 25 5 7.38 -2.69

RBCCapitalMarkets 7 4.40 4,508 29 11 2.17 2.23

CreditSuisse 8 4.23 4,334 27 8 5.24 -1.01

DeutscheBank 9 3.25 3,330 27 6 5.50 -2.25

Nomura 10 3.09 3,164 24 12 2.06 1.03

Barclays 11 2.41 2,471 18 9 4.94 -2.53

TDSecurities 12 2.27 2,323 6 25 0.53 1.74

SinolinkSecuritiesCoLtd 13 1.88 1,928 2 87 0.09 1.79

BMOCapitalMarkets 14 1.77 1,818 15 18 0.83 0.94

Scotiabank 15 1.60 1,639 11 20 0.71 0.89

CIBC 16 1.57 1,605 10 26 0.48 1.09

MizuhoFinancial 17 1.26 1,295 16 16 1.05 0.21

Jefferies 18 1.22 1,251 15 14 1.07 0.15

WellsFargo 19 1.19 1,216 12 10 2.46 -1.27

HaitongSecuritiesCoLtd 20 1.00 1,029 11 68 0.14 0.86

TOTAL 100% 102,459 627 100%

GlobalEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

JPMorgan 1 9.85 9,358 52 2 8.55 1.30

GoldmanSachs 2 9.57 9,093 46 1 10.43 -0.86


3 7.62 7,234 43 4 7.76 -0.14

MorganStanley 4 7.54 7,161 39 3 8.46 -0.92

UBS 5 5.01 4,762 24 5 7.45 -2.44

Citi 6 4.95 4,699 31 7 5.41 -0.46


CreditSuisse 8 4.50 4,277 26 8 5.27 -0.77

Nomura 9 3.33 3,164 24 12 2.11 1.22

DeutscheBank 10 2.97 2,821 24 6 5.55 -2.58

Barclays 11 2.49 2,364 17 9 5.04 -2.55

TDSecurities 12 2.45 2,323 6 25 0.53 1.92


Scotiabank 14 1.73 1,639 11 20 0.72 1.01

CIBC 15 1.69 1,605 10 26 0.49 1.20


WellsFargo 17 1.28 1,216 12 10 2.51 -1.23

Jefferies 18 1.22 1,156 14 14 1.10 0.12

BNPParibas 19 1.02 971 7 16 1.06 -0.04

CITICSecuritiesCoLtd 20 1.01 960 9 41 0.32 0.69

TOTAL 100% 94,993 600 100%

GlobalEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


GoldmanSachs 1 9.86 7,804 39 1 11.41 -1.55

JPMorgan 2 8.88 7,029 41 4 8.08 0.80


3 8.13 6,436 39 5 7.53 0.60

MorganStanley 4 6.60 5,223 34 2 8.79 -2.19


UBS 6 5.49 4,344 21 3 8.25 -2.76

CreditSuisse 7 5.24 4,151 25 8 5.27 -0.03

Citi 8 5.10 4,041 27 7 5.28 -0.18

DeutscheBank 9 3.13 2,478 21 6 5.81 -2.68

Barclays 10 2.99 2,364 17 9 4.73 -1.74

TDSecurities 11 2.93 2,323 6 31 0.45 2.48


Scotiabank 13 1.55 1,226 10 16 0.82 0.73

WellsFargo 14 1.54 1,216 12 11 1.61 -0.07

CIBC 15 1.47 1,164 8 29 0.47 1.00

Jefferies 16 1.46 1,156 14 14 1.04 0.42

Nomura 17 1.33 1,050 20 12 1.56 -0.23

GFSecurities 18 1.01 801 5 74 0.13 0.88

MizuhoFinancial 19 0.92 730 12 22 0.62 0.30

Numis 20 0.81 642 8 43 0.32 0.49

TOTAL 100% 79,174 539 100%

GlobalEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


GoldmanSachs 1 5.81 818 8 6 4.60 1.21

MorganStanley 2 5.14 724 7 1 10.11 -4.97

HaitongSecuritiesCoLtd 3 4.17 587 8 36 0.69 3.48

JPMorgan 4 4.03 568 6 2 6.80 -2.77

BankofAmericaMerrillLynch 5 3.80 536 6 3 5.92 -2.12

DeutscheBank 6 3.73 525 5 5 4.90 -1.17

SambaCapital 7 3.35 471 1 - - -

GuotaiJunanSecuritiesCoLtd

8 3.25 458 7 75 0.20 3.05


Nomura 10 2.79 393 6 22 0.98 1.81

ChinaConstructionBank 11 2.76 388 3 - - -


BankofChina 13 2.17 306 2 33 0.72 1.45

ChinaMerchantsBank 13 2.17 306 2 - - -

AgriculturalBankofChinaLtd 13 2.17 306 2 - - -

Citi 16 2.08 292 4 9 2.93 -0.85

RBCCapitalMarkets 17 1.93 272 3 15 1.53 0.40

GFSecurities 18 1.73 244 4 39 0.58 1.15

Carnegie 19 1.67 236 4 28 0.80 0.87

GreatWallSecurities 20 1.61 227 2 - - -

TOTAL 100% 14,083 176 100%

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GlobalEquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%) MktShareChg(%)

JPMorgan 1 14.72 2,329 11 1 12.01 2.71

Nomura 2 13.37 2,114 4 6 6.21 7.16

MorganStanley 3 12.25 1,938 5 7 5.98 6.27

GoldmanSachs 4 8.15 1,289 7 12 3.23 4.92

BNPParibas 5 5.59 884 6 10 4.23 1.36


Citi 7 4.16 659 4 5 6.40 -2.24

MizuhoFinancial 8 3.57 565 4 9 4.44 -0.87

CIBC 9 2.79 441 2 25 0.63 2.16

UBS 10 2.64 418 3 16 1.53 1.11

Scotiabank 11 2.61 412 1 - - -

CITICSecuritiesCoLtd 12 2.49 394 2 - - -

ChinaInternationalCapitalCorp

13 2.39 378 3 - - -

CreditAgricoleCIB 14 2.29 363 3 22 1.04 1.25

DeutscheBank 15 2.16 342 3 11 3.66 -1.50

ChinaInvestmentCorp 16 1.69 268 1 - - -

HSBC 17 1.49 236 2 13 2.33 -0.84

SumitomoMitsuiFinancial 18 1.12 177 1 42 0.12 1.00

DongbuSecurities 19 1.09 173 1 - - -

Berenberg 20 1.05 165 1 35 0.20 0.85

TOTAL 100% 15,818 61 100%

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4

USEquityReviewQ12016creditedUSEquity&EquityLinkedvolumedecreased59.35%toUSD36.5Blnwhiledealcountdecreased58.82%to119offeringsyear-on-year.USEquityIPOvolumedecreased82.42%year-on-yeartoUSD1.1Blnwhilethedealcountdecreased70.59%to10.USEquityLinkedvolumedecreased84.14%year-on-yeartoUSD2.4Blnover9deals.JPMorganrankedasthetopUSEquity&EquityLinkedunderwriterforQ12016with18.50%marketshare.Thebankunderwrote32dealsovertheperiod.GoldmanSachsandBankofAmericaMerrillLynchrankedsecondandthirdwith18.34%and12.66%marketshare,respectively.

USEquity&EquityLinked:HighlightsofQ12016

USEquity&EquityLinked:QuarterlyVolume

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

2020

4040

6060

8080

USDBln

USDBln

00

100100

100100

200200

300300

UD

eal Count

00

400400

DealCount Equity-Linked Add'l IPO

TopUnderwriterJPMorgan

Numberofdeals 32



MarketSummaryNumberofdeals 119




MolsonCoorsBrewingCo ConsumerStaples 2,585 01/28/2016


PioneerNaturalResourcesCo Energy 1,615 01/05/2016

DevonEnergyCorp Energy 1,488 02/17/2016


MarathonOilCorp Energy 1,276 02/29/2016

HessCorp Energy 1,121 02/05/2016

ZimmerBiometHoldingsInc HealthCare 1,064 02/05/2016

CabotOil&GasCorp Energy 1,012 02/22/2016

TreeHouseFoodsInc ConsumerStaples 863 01/20/2016

Energy32%

HealthCare26%

Financials21%

ConsumerStaples10%

Others11%

USEquity&EquityLinked:IndustryBreakdown

USEquity&EquityLinked:IndustryBreakdown


Energy 11,825 31.8% -37.6%

HealthCare 9,611 25.9% -66.3%

Financials 7,708 20.7% -65.9%

ConsumerStaples 3,780 10.2% 157.8%

Technology 1,706 4.6% -78.2%

Utilities 1,018 2.7% 34.7%

ConsumerDiscretionary 781 2.1% -89.3%

Materials 667 1.8% 5.6%

Industrials 66 0.2% -91.3%

USEquity&EquityLinked:OfferingBreakdown



Equity-Linked 2,669 7.2% -83.6%

IPO 1,079 2.9% -82.6%

32%

26%

21%

10%

11%

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5

USEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


JPMorgan 1 18.50 6,760 32 1 13.99 4.51

GoldmanSachs 2 18.34 6,704 26 7 7.37 10.97


3 12.66 4,627 26 5 8.85 3.81

CreditSuisse 4 7.67 2,804 16 6 8.61 -0.94

Citi 5 7.65 2,797 17 4 9.67 -2.02

MorganStanley 6 5.06 1,850 13 3 9.96 -4.90

Barclays 7 4.93 1,803 10 2 9.96 -5.03

UBS 8 4.08 1,492 8 10 2.42 1.66

WellsFargo 9 3.33 1,216 12 8 6.37 -3.04


DeutscheBank 11 1.97 721 7 9 5.27 -3.30

BMOCapitalMarkets 12 1.96 718 6 17 0.78 1.18

Jefferies 13 1.90 696 9 13 1.68 0.22

KeyBancCapitalMarkets 14 1.39 506 9 16 0.82 0.57

SunTrustRobinsonHumphrey

15 1.13 414 5 24 0.43 0.70

MitsubishiUFJFinancial 16 1.01 369 1 - - -

Stifel 17 0.76 277 6 20 0.70 0.06

Cowen&Co 18 0.61 222 5 15 1.13 -0.52

LeerinkPartnersLLC 19 0.51 187 5 14 1.18 -0.67

Scotiabank 20 0.51 186 1 - - -

TOTAL 100% 36,549 119 100%

USEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


JPMorgan 1 17.78 6,066 28 1 13.26 4.52

GoldmanSachs 2 17.77 6,062 23 7 7.90 9.87


3 12.61 4,302 25 6 8.49 4.12

CreditSuisse 4 8.22 2,804 16 3 10.23 -2.01

Citi 5 7.35 2,509 15 5 9.88 -2.53

Barclays 6 5.28 1,803 10 2 10.52 -5.24

MorganStanley 7 4.86 1,659 12 4 10.02 -5.16

UBS 8 4.37 1,492 8 10 2.81 1.56

WellsFargo 9 3.56 1,216 12 9 4.33 -0.77


DeutscheBank 11 2.11 721 7 8 6.30 -4.19

BMOCapitalMarkets 12 2.10 718 6 23 0.51 1.59

Jefferies 13 2.04 696 9 12 1.61 0.43

KeyBancCapitalMarkets 14 1.48 506 9 15 0.99 0.49

SunTrustRobinsonHumphrey

15 1.21 414 5 22 0.52 0.69

MitsubishiUFJFinancial 16 1.08 369 1 - - -

LeerinkPartnersLLC 17 0.55 187 5 13 1.42 -0.87

Scotiabank 18 0.54 186 1 - - -

Cowen&Co 19 0.52 179 4 14 1.25 -0.73

Stifel 20 0.52 177 5 18 0.78 -0.26

TOTAL 100% 34,115 110 100%

USEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


GoldmanSachs 1 20.62 219 2 4 8.46 12.16

Citi 2 18.37 196 2 1 11.20 7.17

DeutscheBank 3 15.66 167 1 6 7.20 8.46

MorganStanley 4 7.81 83 2 2 10.31 -2.50

EarlyBirdCapitalInc 5 7.69 82 1 19 0.71 6.98

JPMorgan 6 5.10 54 1 5 8.03 -2.93

Jefferies 7 4.96 53 1 15 1.92 3.04

LeerinkPartnersLLC 8 4.46 48 2 18 1.14 3.32

ChardanCapitalMarketsLLC

9 3.66 39 1 32 0.14 3.52

Cowen&Co 10 3.31 35 1 14 2.01 1.30

CreditSuisse 10 3.31 35 1 13 2.64 0.67

RBCCapitalMarkets 12 2.35 25 1 8 6.02 -3.67

CanaccordGenuity 13 2.12 23 1 22 0.54 1.58

JosephGunnar&Co 14 0.28 3 1 - - -

Rodman&RenshawInc 14 0.28 3 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 1,064 10 100%

USEquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


JPMorgan 1 28.52 694 4 1 17.51 11.01

GoldmanSachs 2 26.36 642 3 8 4.76 21.60


3 13.35 325 1 3 10.64 2.71

Citi 4 11.81 288 2 5 8.61 3.20

MorganStanley 5 7.87 192 1 4 9.63 -1.76


Stifel 7 4.11 100 1 22 0.33 3.78

Cowen&Co 8 1.77 43 1 19 0.57 1.20

LadenburgThalmann&Co 9 0.16 4 1 - - -

AegisCapitalCorp 9 0.16 4 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 2,434 9 100%

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6

CanadaEquityReviewQ12016creditedCanadaEquity,EquityLinked&Preferredvolumedecreased8.15%toCAD15.8Blnwhiledealcountdecreased31.96%to66offeringsyear-on-year.CanadaEquityIPOvolumedecreased99.19%year-on-yeartoCAD6.1Mlnwhilethedealcountdecreased44.44%to5.CanadaEquityOfferingsvolumedecreased12.15%year-on-yeartoCAD13.6Blnover57deals.RBCCapitalMarketsrankedasthetopCanadaEquity,EquityLinked&PreferredunderwriterforQ12016with27.70%marketshare.Thebankunderwrote16dealsovertheperiod.TDSecuritiesandCIBCrankedsecondandthirdwith20.15%and14.13%marketshare,respectively.

CanadaEquity,EquityLinked&Preferred

Q12016 Q12015

Firm RankMkt

Share(%)Volume(CAD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)


TDSecurities 2 20.15 3,193 9 6 7.64 12.51

CIBC 3 14.13 2,239 11 5 8.28 5.85

Scotiabank 4 13.97 2,213 13 2 14.45 -0.48

BMOCapitalMarkets 5 10.08 1,597 11 4 10.26 -0.18

Peters&CoLtd 6 3.49 553 4 22 0.26 3.23

NationalBankFinancialInc 7 2.69 425 5 7 5.45 -2.76

CreditSuisse 8 2.42 383 1 9 2.78 -0.36

FirstEnergyCapitalCorp 9 1.79 283 3 17 0.83 0.96

RaymondJames&Associates

10 0.69 109 2 18 0.83 -0.14

TOTAL 100% 15,844 66 100%

CanadaEquity&EquityLinked

Q12016 Q12015

Firm RankMkt

Share(%)Volume(CAD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)


TDSecurities 2 19.97 2,960 6 6 7.12 12.85

CIBC 3 14.77 2,189 10 5 8.79 5.98

Scotiabank 4 13.14 1,948 9 2 13.04 0.10

BMOCapitalMarkets 5 10.11 1,498 9 4 10.53 -0.42

Peters&CoLtd 6 3.74 553 4 22 0.27 3.47

CreditSuisse 7 2.59 383 1 9 2.98 -0.39




10 0.74 109 2 18 0.89 -0.15

TOTAL 100% 14,817 60 100%

Energy53%

Materials19%

Financials11%

Utilities7%

Others10%

CanadaEquity,EquityLinked&Preferred:QuarterlyVolume

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

55

1010

1515

CADBln

CADBln

00

2020

100100

200200

300300

00

400400

DealCount Amount

CanadaEquity,EquityLinked&Preferred:IndustryBreakdown

53%

19%

11%

7%

10%

CanadaEquity,EquityLinked&Preferred:ManagerRankingsHistory

RBCCapitalMarkets

TDSecurities

CIBC

Scotiabank

BMOCapitalMarkets

Peters&

CoLtd

10

20

MarketS

hare(%

)

0

30

2016 2015 2014

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Deal C

ount

7

CanadaEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(CAD

Mln)DealCount

PrevRank



TDSecurities 2 21.79 2,960 6 6 7.24 14.55

CIBC 3 11.60 1,576 8 5 7.75 3.85


Scotiabank 5 10.10 1,373 8 2 13.55 -3.45

Peters&CoLtd 6 4.07 553 4 22 0.29 3.78

CreditSuisse 7 2.82 383 1 9 3.10 -0.28




10 0.80 109 2 18 0.92 -0.12

Barclays 11 0.74 101 1 - - -

Macquarie 12 0.54 73 3 15 1.07 -0.53

GMPSecurities 13 0.46 63 4 12 1.49 -1.03

CormarkSecuritiesInc 14 0.28 38 3 13 1.24 -0.96

DundeeCorp 15 0.28 38 3 16 0.93 -0.65

ClarusSecurities 16 0.23 32 2 24 0.18 0.05

BloomBurton&Co 17 0.20 27 2 - - -

CanaccordGenuity 18 0.13 18 2 8 4.66 -4.53

ParadigmCapitalInc 19 0.11 15 1 27 0.06 0.05

CantorFitzgerald 20 0.11 14 2 - - -

TOTAL 100% 13,584 57 100%

CanadaEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(CAD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

RichardsonGMPLtd 1 73.95 5 1 10 0.04 73.91

MackieResearchCapitalCorp 2 9.36 1 1 - - -

PacificInternationalSecuritiesInc

2 9.43 1 2 - - -

AllGroupFinancialServicesInc 4 7.26 0 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 6 5 100%

CanadianRetailStructuredProductsQ12016 Q12015

Firm Rank MktShare(%) Volume(CADMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

Scotiabank 1 29.62 36 6 3 14.63 14.99

NationalBankFinancialInc 2 24.79 30 6 6 0.92 23.87

CIBC 3 21.90 26 6 1 36.87 -14.97

RBCCapitalMarkets 4 19.24 23 4 2 33.70 -14.46

BMOCapitalMarkets 5 4.46 5 2 4 9.20 -4.74

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 120 9 100%

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LatinAmericaEquityReviewQ12016creditedLatinAmericaEquityOfferingsvolumedecreased76.54%toUSD221.5Mlnwhiledealcount decreased75.00%to2offeringsyear-on-year. BancoSantanderrankedasthetopLatinAmericaEquity OfferingsunderwriterforQ12016with69.76%marketshare.Thebankunderwrote2dealsovertheperiod.Banco BTGPactualandEvercorePartnersIncrankedsecondandthirdwith15.12%and15.12%marketshare, respectively.

LatinAmericaEquityOfferings

Q12016 Q12015

Firm Rank MktShare(%) Volume(USDMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

BancoSantander 1 69.76 155 2 1 36.04 33.72

BancoBTGPactual 2 15.12 34 1 3 19.77 -4.65

EvercorePartnersInc 2 15.12 34 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 221 2 100%

Industrials55%

ConsumerDiscretionary45%

LatinAmericaEquityOfferings:QuarterlyVolume

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

55

1010

1515

USDBln

USDBln

00

2020

1010

2020

00

3030

DealCount Amount

LatinAmericaEquityOfferings:IndustryBreakdown

55%

45%

LatinAmericaEquityOfferings:ManagerRankingsHistory

BancoSantander

BancoBTGPactual

Evercore

PartnersInc

50

MarketS

hare(%

)

0

70

2016 2015 2014

Bloom

berg

G

lobalEquity

|Q12016

Deal C

ount

30

9

EMEAEquityReviewQ12016creditedEMEAEquity,EquityLinked&Rightsvolumedecreased65.21%toUSD27.8Blnwhiledealcountdecreased41.42%to140offeringsyear-on-year.EMEAEquityIPOvolumedecreased78.42%year-on-yeartoUSD4.4Blnwhilethedealcountdecreased63.16%to21.EMEAEquityLinkedvolumeincreased4.72%year-on-yeartoUSD6.5Blnover12deals.MorganStanleyrankedasthetopEMEAEquity,EquityLinked&RightsunderwriterforQ12016with11.78%marketshare.Thebankunderwrote12dealsovertheperiod.UBSandJPMorganrankedsecondandthirdwith10.33%and9.12%marketshare,respectively.

EMEAEquity,EquityLinked&Rights-Risk:HighlightsofQ12016


SaipemSpA Energy 3,965 02/11/2016



LafargeHolcimLtd Materials 1,354 02/04/2016

AutoTraderGroupPLC Communications 1,188 02/24/2016

NNGroupNV Financials 1,099 01/05/2016

VeoliaEnvironnementSA Utilities 771 03/08/2016

TOTALSA Energy 725 02/16/2016

SafranSA Industrials 698 01/05/2016

TelefonicaParticipacionesSAU Communications 651 03/02/2016

EMEAEquity,EquityLinked&Rights-Risk

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

2020

4040

6060

8080

100100

120120

EURBln

EURBln

00

140140

100100

200200

300300

00

400400

DealCount Rights Equity-Linked IPO

Add'l

EMEAEquity,EquityLinked&Rights-Risk:LargestDealsbyCountryofQ12016

Issuer Volume(USDMln) Date Country

VeoliaEnvironnementSA 771 03/08/2016 France

GrandCityPropertiesSA 496 02/24/2016 Germany

SaipemSpA 3,965 02/11/2016 Italy

NNGroupNV 1,099 01/05/2016 Netherlands

MiddleEastHealthcareCo 471 03/01/2016 SaudiArabia

RemgroJerseyGBPLtd 495 03/15/2016 SouthAfrica

TelefonicaParticipacionesSAU 651 03/02/2016 Spain

LafargeHolcimLtd 1,354 02/04/2016 Switzerland

VodafoneGroupPLC 2,067 02/19/2016 UnitedKingdom

EMEAEquity,EquityLinked&Rights-Risk:IndustryBreakdown


Financials 8,748 23.3% -67.4%

Communications 6,653 17.7% -50.1%

Energy 6,471 17.2% 777.1%

Materials 5,758 15.3% 40.9%


Industrials 2,121 5.6% -82.9%

ConsumerStaples 1,770 4.7% -54.4%

HealthCare 1,500 4.0% -47.7%

Technology 984 2.6% -49.9%

Utilities 802 2.1% -80.3%

EMEAEquity,EquityLinked&Rights-Risk:OfferingBreakdown



Equity-Linked 10,682 28.4% 42.5%

RightsOfferings 8,573 22.8% 118.8%

IPO 4,429 11.8% -78.8%

Bloom

berg

G

lobalEquity

|Q12016

Deal C

ount

10

EMEAEquity,EquityLinked&Rights-RiskQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 11.78 3,271 12 4 8.82 2.96

UBS 2 10.33 2,869 10 1 13.30 -2.97

JPMorgan 3 9.12 2,532 15 6 7.61 1.51

DeutscheBank 4 8.05 2,235 15 5 8.02 0.03


5 7.54 2,093 12 3 10.52 -2.98

GoldmanSachs 6 7.05 1,957 14 2 12.82 -5.77

Citi 7 4.78 1,328 8 7 3.12 1.66

BNPParibas 8 3.70 1,028 8 10 2.42 1.28

SocieteGenerale 9 2.61 724 6 11 2.33 0.28

Numis 10 2.31 642 8 24 0.83 1.48

Nordea 11 2.18 604 7 21 0.97 1.21

Barclays 12 2.13 593 7 9 2.76 -0.63

Jefferies 13 1.92 533 5 17 1.26 0.66

Berenberg 14 1.78 494 6 14 1.39 0.39

SambaCapital 15 1.70 471 1 - - -


CreditSuisse 17 1.30 361 3 12 1.77 -0.47

PeelHuntLLP 18 1.27 353 5 31 0.36 0.91

Carnegie 19 1.26 349 9 22 0.90 0.36

IntesaSanpaolo 20 1.24 345 2 49 0.12 1.12

TOTAL 100% 27,764 140 100%

EMEAEquity,EquityLinked&Rights-SyndicationQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 10.39 3,130 11 4 8.48 1.91

UBS 2 9.37 2,823 9 1 13.23 -3.86

JPMorgan 3 8.41 2,532 15 6 7.69 0.72

DeutscheBank 4 7.42 2,235 15 5 8.44 -1.02

Nomura 5 7.11 2,141 5 7 3.37 3.74


6 6.95 2,093 12 3 10.01 -3.06

GoldmanSachs 7 6.50 1,957 14 2 12.61 -6.11

Citi 8 4.41 1,328 8 8 2.84 1.57

BNPParibas 9 3.41 1,028 8 11 2.41 1.00


Numis 11 2.13 642 8 24 0.83 1.30

Nordea 12 2.01 604 7 20 0.96 1.05

MizuhoFinancial 13 1.88 565 4 - - -

Barclays 14 1.82 547 6 10 2.67 -0.85

Jefferies 15 1.77 533 5 21 0.95 0.82

Berenberg 16 1.64 494 6 15 1.38 0.26

SambaCapital 17 1.56 471 1 - - -


CreditSuisse 19 1.20 361 3 13 1.74 -0.54

PeelHuntLLP 20 1.17 353 5 31 0.36 0.81

TOTAL 100% 30,116 144 100%

EMEAEquity&EquityLinked-RiskQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 13.39 3,271 12 4 8.96 4.43

UBS 2 11.75 2,869 10 1 13.82 -2.07


3 8.57 2,093 12 3 10.93 -2.36

JPMorgan 4 8.52 2,081 12 6 6.77 1.75

DeutscheBank 5 7.07 1,726 12 5 8.13 -1.06

GoldmanSachs 6 6.73 1,643 13 2 12.19 -5.46

Citi 7 4.15 1,014 7 7 3.24 0.91

BNPParibas 8 3.98 971 7 11 2.41 1.57


Numis 10 2.63 642 8 24 0.84 1.79

Nordea 11 2.47 603 6 21 1.00 1.47

Berenberg 12 2.02 494 6 14 1.44 0.58

Barclays 13 1.99 486 6 9 2.82 -0.83

SambaCapital 14 1.93 471 1 - - -

Jefferies 15 1.79 438 4 17 1.31 0.48


PeelHuntLLP 17 1.45 353 5 31 0.37 1.08

Carnegie 18 1.43 349 9 22 0.94 0.49

CreditSuisse 19 1.25 304 2 13 1.68 -0.43


TOTAL 100% 24,418 127 100%

EMEAEquity&EquityLinked-SyndicationQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 11.69 3,130 11 4 8.61 3.08

UBS 2 10.54 2,823 9 1 13.74 -3.20

Nomura 3 8.00 2,141 5 7 3.50 4.50


4 7.82 2,093 12 3 10.40 -2.58

JPMorgan 5 7.77 2,081 12 6 6.87 0.90

DeutscheBank 6 6.45 1,726 12 5 8.57 -2.12

GoldmanSachs 7 6.14 1,643 13 2 11.98 -5.84

Citi 8 3.79 1,014 7 8 2.95 0.84

BNPParibas 9 3.63 971 7 12 2.40 1.23


Numis 11 2.40 642 8 24 0.84 1.56

Nordea 12 2.25 603 6 20 1.00 1.25


Berenberg 14 1.84 494 6 15 1.43 0.41

SambaCapital 15 1.76 471 1 - - -

Barclays 16 1.64 440 5 10 2.73 -1.09

Jefferies 17 1.64 438 4 21 0.98 0.66


PeelHuntLLP 19 1.32 353 5 31 0.37 0.95

Carnegie 20 1.30 349 9 22 0.93 0.37

TOTAL 100% 26,775 137 100%

Bloom

berg

G

lobalEquity

|Q12016

11

EMEAEquityLinked-RiskQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 25.05 1,632 3 15 1.12 23.93

JPMorgan 2 19.98 1,302 3 7 5.70 14.28

BNPParibas 3 13.57 884 6 1 12.98 0.59

GoldmanSachs 4 8.00 521 3 - - -


5 5.94 387 2 3 12.68 -6.74

Citi 6 5.70 371 2 6 6.82 -1.12


DeutscheBank 8 3.94 257 2 4 7.28 -3.34

Berenberg 9 2.54 165 1 17 0.90 1.64

UBS 9 2.54 165 1 10 5.43 -2.89

HSBC 11 2.30 150 1 12 4.25 -1.95

Natixis 11 2.30 150 1 - - -

SocieteGenerale 13 1.99 130 2 5 7.02 -5.03

DaewooSecuritiesCoLtd 14 0.38 25 1 - - -

EgozIssuingandFinancesLtd

15 0.03 2 1 - - -

IsraelDiscountBankLtd 15 0.03 2 1 - - -

CybeleHoldings 15 0.03 2 1 - - -

InbarIssuing&FinanceLtd 15 0.03 2 1 25 0.01 0.02

PoalimIBIUnderwritingLtd 15 0.03 2 1 25 0.01 0.02

AlphaBetaIssuancesLtd 15 0.03 2 1 - - -

TOTAL 100% 6,516 12 100%

EMEAEquityLinked-SyndicationQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


Nomura 1 22.99 2,114 4 1 20.21 2.78

MorganStanley 2 17.75 1,632 3 15 0.84 16.91

JPMorgan 3 14.16 1,302 3 8 4.25 9.91

BNPParibas 4 9.61 884 6 3 9.69 -0.08


GoldmanSachs 6 5.67 521 3 - - -


7 4.21 387 2 5 9.46 -5.25

Citi 8 4.04 371 2 7 5.09 -1.05


DeutscheBank 10 2.79 257 2 2 11.51 -8.72

Berenberg 11 1.80 165 1 17 0.67 1.13

UBS 11 1.80 165 1 11 4.05 -2.25

HSBC 13 1.63 150 1 13 3.18 -1.55

Natixis 13 1.63 150 1 - - -

SocieteGenerale 15 1.41 130 2 6 5.24 -3.83


EgozIssuingandFinancesLtd 17 0.02 2 1 - - -

PoalimIBIUnderwritingLtd 17 0.02 2 1 25 0.01 0.01

AlphaBetaIssuancesLtd 17 0.02 2 1 - - -

CybeleHoldings 17 0.02 2 1 - - -

TOTAL 100% 9,195 20 100%

EMEAEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


JPMorgan 1 11.15 492 4 2 10.26 0.89

SambaCapital 2 10.68 471 1 - - -


3 9.40 414 4 3 8.48 0.92

GoldmanSachs 4 7.57 334 3 6 5.66 1.91

DeutscheBank 5 6.98 308 3 5 7.48 -0.50

MorganStanley 6 6.58 290 3 1 11.65 -5.07


Carnegie 8 5.35 236 4 18 1.59 3.76

Numis 9 4.84 213 2 19 1.58 3.26

Nordea 10 4.08 180 1 29 0.48 3.60

Barclays 11 3.80 168 2 11 3.02 0.78

Macquarie 12 3.41 151 2 - - -

Stifel 13 3.22 142 1 - - -

PeelHuntLLP 14 2.87 126 1 30 0.43 2.44

EFG-Hermes 15 2.85 126 1 24 0.95 1.90

RiyadBank 16 2.28 101 1 - - -

BNPParibas 17 1.97 87 1 14 1.91 0.06

SEB 18 1.80 79 2 22 1.25 0.55

Moelis&Co 19 1.01 44 1 - - -

Berenberg 20 0.93 41 1 10 3.73 -2.80

TOTAL 100% 4,410 21 100%

EMEAEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


UBS 1 15.10 2,704 9 1 14.56 0.54


2 9.53 1,706 10 3 10.78 -1.25

MorganStanley 3 9.15 1,638 9 4 9.65 -0.50

DeutscheBank 4 8.21 1,469 10 5 8.20 0.01

GoldmanSachs 5 6.26 1,122 10 2 13.27 -7.01

JPMorgan 6 4.35 779 9 6 6.87 -2.52

Citi 7 3.59 643 5 7 2.92 0.67

Numis 8 3.59 642 8 24 0.91 2.68

Nordea 9 3.37 603 6 21 1.09 2.28


Barclays 11 2.71 486 6 10 1.95 0.76

SambaCapital 12 2.63 471 1 - - -

Jefferies 13 2.45 438 4 18 1.28 1.17

PeelHuntLLP 14 1.97 353 5 30 0.40 1.57

Carnegie 15 1.95 349 9 22 1.02 0.93

Berenberg 16 1.83 328 5 11 1.49 0.34

CreditSuisse 17 1.70 304 2 17 1.33 0.37


SEB 19 1.15 205 5 31 0.36 0.79

KBCGroup 20 1.02 183 3 - - -

TOTAL 100% 17,902 115 100%

Bloom

berg

G

lobalEquity

|Q12016

12

EMEARightsOfferingsQ12016 Q12015


DeutscheBank 1 15.23 510 3 3 5.13 10.10

JPMorgan 2 13.48 451 3 1 28.98 -15.50

Mediobanca 3 9.38 314 1 - - -

Citi 3 9.38 314 1 - - -

GoldmanSachs 3 9.38 314 1 1 28.98 -19.60

UniCredit 3 9.38 314 1 - - -

IntesaSanpaolo 3 9.38 314 1 - - -

HSBC 8 4.35 146 2 - - -

PanmureGordon 9 3.19 107 1 3 5.13 -1.94

Barclays 9 3.19 107 1 15 1.22 1.97

Jefferies 11 2.84 95 1 - - -


Natixis 12 1.70 57 1 - - -

CreditSuisse 12 1.70 57 1 6 3.90 -2.20

SocieteGenerale 12 1.70 57 1 - - -

BNPParibas 12 1.70 57 1 7 2.76 -1.06

Investec 17 1.61 54 1 14 1.53 0.08

ZeusCapital 18 0.31 11 1 - - -

OddoPinatton 19 0.11 4 1 - - -

DNBASA 20 0.10 3 2 24 0.14 -0.04

TOTAL 100% 3,346 13 100%

WesternEuropeEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(EUR


UBS 1 10.43 2,382 9 1 13.65 -3.22

MorganStanley 2 10.39 2,373 10 4 8.92 1.47

JPMorgan 3 9.97 2,277 15 6 8.04 1.93

DeutscheBank 4 8.85 2,020 15 5 8.11 0.74


5 7.73 1,766 11 3 10.83 -3.10

GoldmanSachs 6 7.20 1,644 13 2 13.44 -6.24

Citi 7 4.79 1,095 7 8 2.74 2.05

BNPParibas 8 4.11 938 8 10 2.07 2.04


Numis 10 2.51 573 8 24 0.93 1.58

Nordea 11 2.38 544 7 20 1.08 1.30

Barclays 12 2.34 535 7 9 2.36 -0.02

Jefferies 13 2.09 478 5 16 1.40 0.69

Berenberg 14 1.93 442 6 14 1.49 0.44


CreditSuisse 16 1.43 326 3 13 1.88 -0.45

PeelHuntLLP 17 1.39 318 5 30 0.39 1.00

Carnegie 18 1.36 311 9 22 0.98 0.38

IntesaSanpaolo 19 1.33 305 2 42 0.13 1.20

Mediobanca 20 1.21 277 1 23 0.98 0.23

TOTAL 100% 22,833 118 100%

EasternEuropeEquity,EquityLinked&RightsQ12016 Q12015

Firm Rank MktShare(%) Volume(EURMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

UnluMenkulDegerlerAS 1 45.76 135 2 2 16.86 28.90

GoldmanSachs 2 41.62 123 1 8 2.52 39.10

DomInwestycyjnyInvestors 3 5.70 17 1 - - -

DenizYatirim 4 3.86 11 1 - - -

FMIFinastaAB 5 3.06 9 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 294 6 100%

AIMEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(GBP

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

Stifel 1 19.08 175 4 16 2.13 16.95

GoldmanSachs 2 15.35 141 1 - - -

PeelHuntLLP 3 10.20 94 3 15 2.19 8.01

LiberumCapitalLtd 4 7.88 73 2 3 8.71 -0.83

ZeusCapital 5 7.63 70 4 5 5.90 1.73

CenkosSecurities 6 6.18 57 3 1 19.94 -13.76

Nplus1SingerLtd 7 5.45 50 3 19 1.29 4.16

JPMorgan 8 5.44 50 1 13 2.40 3.04

FinnCap 9 4.80 44 4 11 2.70 2.10

Investec 10 3.34 31 2 2 9.84 -6.50

ShoreCapitalGroupLtd 11 2.59 24 6 12 2.46 0.13

Numis 12 2.17 20 1 6 4.12 -1.95

PanmureGordon 13 1.99 18 6 4 5.91 -3.92

BancaPopolarediVicenza 14 1.97 18 1 25 1.14 0.83

N+1 15 1.38 13 2 - - -


Davy 17 0.34 3 1 - - -

NorthlandCapitalPartnersLtd 18 0.31 3 5 27 0.77 -0.46

CantorFitzgerald 19 0.30 3 5 7 3.47 -3.17

CornhillAssetManagementLTD

20 0.29 3 2 34 0.30 -0.01

TOTAL 100% 919 80 100%

Bloom

berg

G

lobalEquity

|Q12016

13

AfricaEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 59.09 643 2 2 18.69 40.40


2 13.68 149 1 - - -

EFG-Hermes 3 11.58 126 1 6 5.29 6.29

JavaCapital 4 8.19 89 3 1 22.62 -14.43

LeafCapitalPtyLtd 5 6.85 74 2 - - -

CanaccordGenuity 6 0.30 3 1 - - -

GMPSecurities 6 0.30 3 1 - - -

DBFCapitalPartnersLtd 8 0.01 0 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 1,087 11 100%

Sub-SaharaEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD


MorganStanley 1 66.82 643 2 2 20.91 45.91


2 15.48 149 1 - - -

JavaCapital 3 9.27 89 3 1 25.30 -16.03

LeafCapitalPtyLtd 4 7.74 74 2 - - -

CanaccordGenuity 5 0.34 3 1 - - -

GMPSecurities 5 0.34 3 1 - - -

DBFCapitalPartnersLtd 7 0.01 0 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 961 10 100%

MENAEquity,EquityLinked&RightsQ12016 Q12015


SambaCapital 1 67.52 471 1 - - -

EFG-Hermes 2 18.04 126 1 6 6.61 11.43

RiyadBank 3 14.44 101 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 697 3 100%

Bloom

berg

G

lobalEquity

|Q12016

14

AsiaPacificEquityReviewQ12016creditedAPACex-JapanEquity,EquityLinked&Rightsvolumedecreased55.12%toUSD20.2Blnwhiledealcountdecreased39.95%to260offeringsyear-on-year.APACex-JapanEquityIPOvolumedecreased59.95%year-on-yeartoUSD7.0Blnwhilethedealcountdecreased30.52%to107.APACex-JapanEquityLinkedvolumeincreased40.47%year-on-yeartoUSD3.1Blnover28deals.SinolinkSecuritiesCoLtdrankedasthetopAPACex-JapanEquity,EquityLinked&RightsunderwriterforQ12016with9.54%marketshare.Thebankunderwrote2dealsovertheperiod.MorganStanleyandHaitongSecuritiesCoLtdrankedsecondandthirdwith5.79%and4.91%marketshare,respectively.

APACEquity,EquityLinked&Rights:HighlightsofQ12016


IndustrialSecuritiesCoLtd Financials 1,864 01/18/2016

ChinaZheshangBankCoLtd Financials 1,685 03/21/2016

BankofTianjinCoLtd Financials 949 03/21/2016

LaSalleLogiportREIT Financials 940 02/04/2016

SuzukiMotorCorp ConsumerDiscretionary 881 03/07/2016

SuzukiMotorCorp ConsumerDiscretionary 881 03/07/2016

NTPCLtd Utilities 734 02/24/2016

PacificSecuritiesCoLtd/The/China Financials 654 02/02/2016

GuangzhouAutomobileGroupCoLtd ConsumerDiscretionary 629 01/05/2016

CRRCCorpLtd Industrials 600 01/25/2016

APACEquity,EquityLinked&Rights:IndustryBreakdown

59%

16%

9%

8%

10%


Technology 38,452 58.7% 924.4%

Financials 10,220 15.6% -66.9%


Industrials 4,923 7.5% -21.0%

HealthCare 1,860 2.8% 6.0%

Materials 1,763 2.7% -30.8%

Utilities 1,050 1.6% -71.4%

Energy 608 0.9% -92.7%

Communications 454 0.7% -85.0%

ConsumerStaples 433 0.7% -64.6%

Asiaex-JapanEquity,EquityLinked&Rights

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

5050

USDBln

USDBln

00

8080

500500

00

800800

DealCount Rights IPO

Add'l

Australia/NewZealandEquity,EQL&Rights

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

1010

USDBln

USDBln

00

2020

200200

00

400400


Add'l

ChinaEquity,EquityLinked&Rights

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

200200

USDBln

USDBln

00

400400

200200

00

400400


Add'l

JapanEquity&EquityLinked

Q12012

Q12012

Q12013

Q12013

Q12014

Q12014

Q12015

Q12015

QuartersQuarters

Q12011

Q12011

Q12016

Q12016

1,0001,000

USDBln

USDBln

00

1,8001,800

5050

00

100100


Add'l

Bloom

berg

G

lobalEquity

|Q12016

Deal C

ountD

eal Count

Deal C

ountD

eal Count

15

Asiaex-JapanEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank



MorganStanley 2 5.96 1,169 9 3 6.04 -0.08


BankofChina 4 4.89 959 3 21 1.18 3.71


Citi 6 4.20 823 6 10 2.65 1.55

GFSecurities 7 4.09 801 5 32 0.71 3.38


CreditSuisse 9 3.60 705 6 4 5.98 -2.38

GoldmanSachs 10 3.56 698 6 1 11.02 -7.46

GuotaiJunanSecuritiesCoLtd 11 3.06 601 11 55 0.30 2.76


12 2.96 580 5 25 0.96 2.00

JPMorgan 13 2.40 471 6 5 4.57 -2.17


ChinaConstructionBank 15 1.98 388 3 33 0.67 1.31

DeutscheBank 16 1.91 374 5 8 3.04 -1.13

GuosenSecuritiesCoLtd 17 1.68 329 3 12 2.21 -0.53

IndustrialSecuritiesCoLtd 18 1.63 320 3 19 1.31 0.32

ICICI 19 1.56 307 5 79 0.11 1.45

AgriculturalBankofChinaLtd 20 1.56 306 2 34 0.64 0.92

TOTAL 100% 19,602 230 100%

Asiaex-JapanEquity,EQL&Rightsex-CHASharesQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

MorganStanley 1 7.98 1,055 8 1 8.42 -0.44



Citi 4 5.80 767 5 10 3.41 2.39

GFSecurities 5 4.66 616 2 69 0.12 4.54

CreditSuisse 6 4.38 580 5 5 4.78 -0.40

GoldmanSachs 7 4.33 572 5 3 7.85 -3.52

JPMorgan 8 3.56 471 6 4 6.37 -2.81

ChinaInternationalCapitalCorp 9 3.44 454 4 - - -



DeutscheBank 12 2.83 374 5 7 4.24 -1.41



ICICI 15 2.32 307 5 58 0.16 2.16

BankofChina 16 2.31 306 2 30 0.89 1.42


UBS 18 1.91 252 2 2 7.92 -6.01

StateBankofIndia 19 1.72 227 3 15 2.10 -0.38

EdelweissFinancialServicesLtd

20 1.69 224 3 40 0.49 1.20

TOTAL 100% 13,218 193 100%

Asiaex-JapanEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank



Citi 2 6.00 823 6 8 3.34 2.66

GFSecurities 3 5.84 801 5 27 0.89 4.95

CreditSuisse 4 5.14 705 6 3 6.92 -1.78

MorganStanley 5 4.67 640 7 4 6.28 -1.61

GoldmanSachs 6 4.65 637 5 1 12.04 -7.39




GuosenSecuritiesCoLtd 10 2.40 329 3 13 1.98 0.42


11 2.39 328 3 19 1.22 1.17

ICICI 12 2.23 307 5 69 0.14 2.09

BankofChina 13 2.23 306 2 25 0.97 1.26


AgriculturalBankofChinaLtd 13 2.23 306 2 - - -


ChinaInvestmentCorp 17 1.95 268 1 93 0.07 1.88

DeutscheBank 18 1.73 237 3 10 3.03 -1.30



TOTAL 100% 13,715 211 100%

Asiaex-JapanEquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)



JPMorgan 3 10.64 332 4 4 4.40 6.24


UBS 5 8.08 252 2 - - -


GuangzhouSecurities 7 4.03 126 1 - - -

GoldmanSachs 7 4.03 126 1 - - -

CreditSuisse 7 4.03 126 1 1 50.94 -46.91

MorganStanley 10 3.64 114 1 - - -

GuosenSecuritiesCoLtd 10 3.64 114 1 - - -

HSBC 12 2.74 86 1 4 4.40 -1.66

CMBInternationalSecuritiesLtd 12 2.74 86 1 - - -

DeutscheBank 12 2.74 86 1 - - -

BankofAmericaMerrillLynch 12 2.74 86 1 - - -

IndustrialSecuritiesCoLtd 16 2.48 77 1 - - -

ChinaInvestmentSecuritiesCoLtd

17 2.05 64 1 - - -

ConcordSecurities 18 1.92 60 3 11 2.32 -0.40

HorizonSecuritiesCoLtd 19 1.92 60 1 18 0.68 1.24

CTBCFinancialHoldingCoLtd 20 0.98 31 1 10 2.64 -1.66

TOTAL 100% 3,124 28 100%

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16

Asiaex-JapanEquityLinkedex-ChinaExchangesQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

JPMorgan 1 20.91 332 4 2 10.31 10.60


2 15.88 252 2 - - -

UBS 2 15.88 252 2 - - -


HSBC 5 5.39 86 1 2 10.31 -4.92

CMBInternationalSecuritiesLtd

5 5.39 86 1 - - -

BankofAmericaMerrillLynch 5 5.39 86 1 - - -

DeutscheBank 5 5.39 86 1 - - -




SinopacSecuritiesCorp 12 1.31 21 3 - - -

KGISecuritiesCoLtd 13 1.23 20 1 1 14.51 -13.28

TaishinFinancialHoldingCoLtd

14 0.87 14 2 17 1.38 -0.51

CathaySecuritiesCoLtd 15 0.56 9 1 6 8.09 -7.53

HuaNanCommercialBank 16 0.39 6 3 19 0.98 -0.59

PresidentSecurities 17 0.38 6 1 11 2.72 -2.34

YuantaSecuritiesCoLtd 18 0.38 6 1 14 1.96 -1.58

WaterlandSecuritiesCoLtd 19 0.29 5 1 - - -

- - - - - - - -

TOTAL 100% 1,589 23 100%

Asiaex-JapanEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank


GFSecurities 1 7.12 3,716 15 18 1.36 5.76

GuotaiJunanSecuritiesCoLtd 2 6.96 3,629 17 9 2.79 4.17

CITICSecuritiesCoLtd 3 6.45 3,362 18 1 7.95 -1.50

HuataiSecuritiesCoLtd 4 5.73 2,988 12 20 1.34 4.39


5 5.09 2,658 8 38 0.68 4.41


SouthwestSecuritiesCoLtd 7 4.82 2,513 6 25 1.22 3.60


GuosenSecuritiesCoLtd 9 4.39 2,290 11 10 2.64 1.75

ChinaSecuritiesCoLtd 10 3.63 1,892 9 8 2.99 0.64

MorganStanley 11 2.78 1,452 10 4 4.79 -2.01

Citi 12 2.21 1,155 10 15 1.87 0.34

IndustrialSecuritiesCoLtd 13 2.21 1,152 6 17 1.37 0.84

DeutscheBank 14 2.08 1,084 6 11 2.46 -0.38


BankofChina 16 1.84 959 3 34 0.84 1.00

MinshengSecuritiesCoLtd 17 1.69 880 4 26 1.20 0.49


GoldmanSachs 19 1.43 747 6 2 7.80 -6.37

AvicSecuritiesCoLtd 20 1.26 656 4 - - -

TOTAL 100% 52,166 328 100%

Asiaex-JapanEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank






BankofChina 5 4.40 306 2 9 2.60 1.80



GoldmanSachs 8 3.81 264 3 6 3.31 0.50

GFSecurities 9 3.52 244 4 28 1.37 2.15




12 2.91 202 2 13 2.12 0.79

ChinaMerchantsSecurities 13 2.91 202 3 12 2.32 0.59

EssenceSecuritiesCoLtd 14 2.70 187 1 51 0.27 2.43

HuarongSecuritiesCoLtd 15 2.70 187 1 - - -

DaishinSecurities 16 2.15 149 2 - - -

CIMB 17 2.05 142 4 22 1.52 0.53


NortheastSecuritiesCo 19 1.90 132 1 45 0.40 1.50

CrosbyLtd 20 1.71 119 1 - - -

TOTAL 100% 6,945 102 100%

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17

APACEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank


Nomura 1 11.45 3,061 22 3 6.91 4.54

MorganStanley 2 7.63 2,040 14 4 6.73 0.90




BankofChina 6 3.59 959 3 25 0.84 2.75

CreditSuisse 7 3.33 890 7 5 4.95 -1.62

Citi 8 3.33 889 7 12 1.89 1.44


GFSecurities 10 3.00 801 5 37 0.50 2.50


GoldmanSachs 12 2.79 747 7 1 14.97 -12.18



14 2.17 580 5 29 0.69 1.48

SumitomoMitsuiFinancial 15 2.02 540 12 10 2.36 -0.34

JPMorgan 16 1.93 516 8 6 3.85 -1.92


UBS 18 1.50 401 6 2 8.13 -6.63


DeutscheBank 20 1.40 374 5 7 3.30 -1.90

TOTAL 100% 26,728 316 100%

APACEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank


Nomura 1 13.51 3,061 22 3 7.20 6.31

MorganStanley 2 9.00 2,040 14 4 7.01 1.99


CreditSuisse 4 3.93 890 7 5 4.98 -1.05

Citi 5 3.92 889 7 12 1.97 1.95


GFSecurities 7 3.54 801 5 35 0.53 3.01

GoldmanSachs 8 3.30 747 7 1 15.60 -12.30


9 2.56 580 5 28 0.72 1.84



JPMorgan 12 2.28 516 8 6 3.61 -1.33



UBS 15 1.77 401 6 2 8.02 -6.25


DeutscheBank 17 1.65 374 5 7 3.41 -1.76


DaiwaSecurities 19 1.37 311 12 18 1.24 0.13

ICICI 20 1.35 307 5 82 0.09 1.26

TOTAL 100% 22,653 298 100%

APACEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank PrevMktShare(%) MktShareChg(%)

MorganStanley 1 11.55 1,926 13 3 7.63 3.92

Nomura 2 5.68 947 18 4 4.40 1.28

Citi 3 5.33 889 7 12 2.19 3.14

GFSecurities 4 4.81 801 5 35 0.59 4.22

CreditSuisse 5 4.58 764 6 7 3.44 1.14


GoldmanSachs 7 3.72 621 6 1 17.04 -13.32



9 2.87 478 9 54 0.25 2.62



11 2.57 429 4 8 2.83 -0.26



DaiwaSecurities 14 1.86 311 12 23 0.98 0.88

ICICI 15 1.84 307 5 76 0.09 1.75

BankofChina 16 1.83 306 2 24 0.98 0.85



DeutscheBank 19 1.73 288 4 9 2.70 -0.97

StateBankofIndia 20 1.36 227 3 21 1.15 0.21

TOTAL 100% 16,673 261 100%

APACEquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

Nomura 1 35.35 2,114 4 1 31.85 3.50




JPMorgan 5 5.56 332 4 5 4.48 1.08


UBS 7 4.22 252 2 - - -

SumitomoMitsuiFinancial 8 2.96 177 1 19 0.64 2.32



GoldmanSachs 10 2.11 126 1 8 2.88 -0.77

CreditSuisse 10 2.11 126 1 2 18.56 -16.45

MorganStanley 13 1.90 114 1 13 1.58 0.32



HSBC 15 1.43 86 1 11 1.60 -0.17

DeutscheBank 15 1.43 86 1 3 9.74 -8.31




20 1.07 64 1 - - -

TOTAL 100% 5,980 37 100%

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APACex-JapanEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank



MorganStanley 2 5.79 1,169 9 3 6.26 -0.47


BankofChina 4 4.75 959 3 21 1.00 3.75

CreditSuisse 5 4.40 890 7 4 5.85 -1.45


Citi 7 4.07 823 6 10 2.23 1.84

GFSecurities 8 3.97 801 5 33 0.60 3.37


GoldmanSachs 10 3.46 698 6 1 17.35 -13.89



12 2.87 580 5 25 0.81 2.06

JPMorgan 13 2.33 471 6 5 4.55 -2.22



DeutscheBank 16 1.85 374 5 8 2.77 -0.92


IndustrialSecuritiesCoLtd 18 1.59 320 3 19 1.11 0.48

UBS 19 1.55 313 4 2 9.20 -7.65

ICICI 20 1.52 307 5 83 0.10 1.42

TOTAL 100% 20,202 260 100%

APACex-JapanEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank


MorganStanley 1 7.25 1,169 9 3 6.57 0.68

CreditSuisse 2 5.52 890 7 4 5.92 -0.40


Citi 4 5.10 823 6 10 2.34 2.76

GFSecurities 5 4.97 801 5 31 0.63 4.34

GoldmanSachs 6 4.33 698 6 1 18.21 -13.88


7 3.60 580 5 24 0.85 2.75



JPMorgan 10 2.92 471 6 5 4.30 -1.38



DeutscheBank 13 2.32 374 5 8 2.88 -0.56

GuosenSecuritiesCoLtd 14 2.04 329 3 12 1.95 0.09

UBS 15 1.94 313 4 2 9.13 -7.19

ICICI 16 1.90 307 5 78 0.10 1.80

BankofChina 17 1.90 306 2 21 1.05 0.85



ChinaInvestmentCorp 20 1.66 268 1 103 0.05 1.61

TOTAL 100% 16,127 242 100%

APACex-JapanEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

MorganStanley 1 8.12 1,055 8 3 6.93 1.19

Citi 2 6.33 823 6 10 2.47 3.86

GFSecurities 3 6.16 801 5 31 0.66 5.50

CreditSuisse 4 5.88 764 6 6 3.87 2.01

GoldmanSachs 5 4.40 572 5 1 19.21 -14.81






ICICI 11 2.36 307 5 72 0.11 2.25

BankofChina 12 2.35 306 2 20 1.10 1.25



DeutscheBank 15 2.21 288 4 7 3.04 -0.83

StateBankofIndia 16 1.75 227 3 18 1.30 0.45



18 1.72 224 3 67 0.12 1.60


ChinaInternationalCapitalCorp 20 1.55 202 2 24 0.90 0.65

TOTAL 100% 13,003 214 100%

APACex-JapanEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank






BankofChina 5 4.39 306 2 9 2.58 1.81



GoldmanSachs 8 3.80 264 3 6 3.41 0.39

GFSecurities 9 3.51 244 4 28 1.36 2.15




12 2.90 202 2 13 2.10 0.80

ChinaMerchantsSecurities 13 2.90 202 3 12 2.30 0.60

EssenceSecuritiesCoLtd 14 2.69 187 1 51 0.27 2.42


DaishinSecurities 16 2.14 149 2 - - -

CIMB 17 2.04 142 4 22 1.51 0.53



CrosbyLtd 20 1.70 119 1 - - -

TOTAL 100% 6,960 107 100%

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APACex-JapanEquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)



JPMorgan 3 10.64 332 4 2 10.49 0.15


UBS 5 8.08 252 2 - - -



GoldmanSachs 7 4.03 126 1 - - -

CreditSuisse 7 4.03 126 1 1 43.42 -39.39

MorganStanley 10 3.64 114 1 - - -


HSBC 12 2.74 86 1 6 3.75 -1.01


DeutscheBank 12 2.74 86 1 - - -




17 2.05 64 1 - - -




TOTAL 100% 3,124 28 100%

APACex-JapanEquity,EQL&Rightsex-CHAShrsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

MorganStanley 1 7.64 1,055 8 3 8.21 -0.57



Citi 4 5.55 767 5 10 2.70 2.85

CreditSuisse 5 5.53 764 6 5 4.86 0.67

GFSecurities 6 4.46 616 2 74 0.09 4.37

GoldmanSachs 7 4.14 572 5 1 16.81 -12.67

JPMorgan 8 3.41 471 6 4 5.97 -2.56




DeutscheBank 12 2.70 374 5 7 3.63 -0.93



UBS 15 2.27 313 4 2 9.92 -7.65

ICICI 16 2.22 307 5 62 0.13 2.09

BankofChina 17 2.21 306 2 31 0.70 1.51




20 1.62 224 3 41 0.39 1.23

TOTAL 100% 13,818 223 100%

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20

Australia/NewZealandEquity,EQL&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CreditSuisse 1 30.87 184 1 4 5.17 25.70

Macquarie 2 22.46 134 3 5 4.48 17.98

BellPotterSecuritiesLimited 3 13.14 78 2 12 0.56 12.58

Morgans 4 11.23 67 1 16 0.24 10.99

UBS 5 10.21 61 2 2 17.57 -7.36


TaylorCollisonLtd 7 1.43 9 1 22 0.09 1.34

BWEquitiesPtyLtd 8 1.37 8 2 39 0.03 1.34

GMPSecurities 9 1.30 8 1 28 0.06 1.24

OrdMinnettLtd 10 1.16 7 1 15 0.30 0.86

GleneagleSecuritiesAustPtyLtd 11 0.62 4 1 37 0.04 0.58

SanlamPrivateWealthPtyLtd 12 0.60 4 1 - - -

StateOneEquities 13 0.57 3 1 - - -

GulfEnergyInternationalLtd 14 0.47 3 1 - - -

HartleysLtd 15 0.43 3 3 20 0.13 0.30

AltoCapital 16 0.42 3 1 - - -

SanstonSecuritiesAustraliaPtyLtd

17 0.42 3 1 - - -

MerchantGroupPtyLtd 18 0.25 1 1 - - -

BeaumontCornish 19 0.22 1 1 - - -

HKSecuritiesPtyLtd 20 0.19 1 1 - - -

TOTAL 100% 597 27 100%

Australia/NewZealandEquity&RightsOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CreditSuisse 1 30.87 184 1 4 5.42 25.45

Macquarie 2 22.46 134 3 5 4.70 17.76

BellPotterSecuritiesLimited 3 13.14 78 2 11 0.58 12.56

Morgans 4 11.23 67 1 15 0.25 10.98

UBS 5 10.21 61 2 2 18.42 -8.21


TaylorCollisonLtd 7 1.43 9 1 21 0.09 1.34

BWEquitiesPtyLtd 8 1.37 8 2 36 0.03 1.34

GMPSecurities 9 1.30 8 1 27 0.06 1.24

OrdMinnettLtd 10 1.16 7 1 14 0.31 0.85

GleneagleSecuritiesAustPtyLtd 11 0.62 4 1 34 0.05 0.57

SanlamPrivateWealthPtyLtd 12 0.60 4 1 - - -

StateOneEquities 13 0.57 3 1 - - -

GulfEnergyInternationalLtd 14 0.47 3 1 - - -

HartleysLtd 15 0.43 3 3 19 0.14 0.29

AltoCapital 16 0.42 3 1 - - -

SanstonSecuritiesAustraliaPtyLtd

17 0.42 3 1 - - -

MerchantGroupPtyLtd 18 0.25 1 1 - - -

BeaumontCornish 19 0.22 1 1 - - -

HKSecuritiesPtyLtd 20 0.19 1 1 - - -

TOTAL 100% 597 27 100%

ChinaEquity,EquityLinked&RightsQ12016 Q12015

Firm RankMkt

Share(%)Volume(CNY

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CITICSecuritiesCoLtd 1 8.16 22,461 15 1 13.39 -5.23

GuotaiJunanSecuritiesCoLtd 2 7.85 21,613 9 6 5.16 2.69

GFSecurities 3 7.39 20,355 13 10 2.47 4.92

HuataiSecuritiesCoLtd 4 7.08 19,491 11 19 1.68 5.40

ChinaInternationalCapitalCorp 5 6.16 16,966 7 22 1.29 4.87

SouthwestSecuritiesCoLtd 6 5.93 16,312 6 14 2.23 3.70



ChinaSecuritiesCoLtd 9 4.51 12,410 9 7 4.81 -0.30


IndustrialSecuritiesCoLtd 11 2.77 7,635 6 18 1.72 1.05

GuangzhouSecurities 12 2.64 7,265 3 - - -

MinshengSecuritiesCoLtd 13 2.09 5,749 4 12 2.28 -0.19

DeutscheBank 14 1.90 5,224 2 36 0.58 1.32

AvicSecuritiesCoLtd 15 1.56 4,305 4 - - -

BankofChina 16 1.56 4,298 1 32 0.73 0.83

EverbrightSecuritiesCo 17 1.55 4,255 3 5 6.16 -4.61

ChinaMerchantsSecurities 18 1.40 3,862 5 45 0.28 1.12

MorganStanley 19 1.22 3,365 3 27 0.97 0.25

ShenwanHongyuanGroupCoLtd

20 1.22 3,356 4 39 0.43 0.79

TOTAL 100% 275,284 160 100%

ChinaEquityIPOQ12016 Q12015

Firm RankMkt

Share(%)Volume(CNY


GreatWallSecurities 1 12.13 1,494 2 - - -


EssenceSecuritiesCoLtd 3 9.93 1,223 1 29 0.63 9.30


4 9.93 1,223 2 23 0.97 8.96

GFSecurities 5 9.84 1,212 3 10 3.16 6.68

ChinaMerchantsSecurities 6 8.56 1,054 2 - - -



TianfengSecuritiesCoLtd 9 4.49 553 2 - - -

DongguanSecuritiesLtd 10 3.38 417 1 - - -

SinolinkSecuritiesCoLtd 11 3.37 415 1 13 2.65 0.72

Citi 12 2.96 365 1 22 1.03 1.93

EverbrightSecuritiesCo 13 2.91 358 1 1 23.29 -20.38

HengtaiSecuritiesCoLtd 14 2.09 257 1 - - -

ZhongtaiSecuritiesCoLtd 15 1.98 244 1 - - -

SunriseCapitalCorp/Japan 16 1.94 239 1 - - -

NanjingSecuritiesCoLtd 17 1.57 193 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 12,315 25 100%

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21

HongKongEquity&RightsOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)



GFSecurities 3 10.01 616 2 34 0.31 9.70


GoldmanSachs 5 5.49 338 2 1 11.88 -6.39


BankofChina 7 4.97 306 2 21 2.36 2.61



MorganStanley 10 4.03 248 3 2 11.09 -7.06



KingstonFinancialGroupLtd 13 2.97 183 13 7 3.93 -0.96

CrosbyLtd 14 1.93 119 1 - - -

AMTDAssetManagementLtd 14 1.93 119 1 - - -

IndustrialSecuritiesCoLtd 16 1.05 65 1 11 2.37 -1.32

Macquarie 16 1.05 65 1 - - -

BlackMarbleSecuritiesLtd 18 0.96 59 2 - - -

Industrial&CommBankofChina

19 0.95 59 1 11 2.37 -1.42

KCGSecuritiesAsiaLtd 20 0.80 49 1 - - -

TOTAL 100% 6,154 63 100%

HongKongEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(USD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

GFSecurities 1 12.32 616 2 33 0.32 12.00



GoldmanSachs 4 6.75 338 2 1 12.17 -5.42

BankofChina 5 6.12 306 2 21 2.41 3.71





MorganStanley 10 4.96 248 3 2 11.36 -6.40



KingstonFinancialGroupLtd 13 2.75 138 10 9 3.11 -0.36

CrosbyLtd 14 2.37 119 1 - - -

AMTDAssetManagementLtd 14 2.37 119 1 - - -

IndustrialSecuritiesCoLtd 16 1.30 65 1 11 2.43 -1.13

Macquarie 16 1.30 65 1 - - -

Industrial&CommBankofChina

18 1.17 59 1 11 2.43 -1.26

KCGSecuritiesAsiaLtd 19 0.98 49 1 - - -

ChinaMerchantsSecurities 20 0.82 41 1 7 4.00 -3.18

TOTAL 100% 4,999 51 100%

IndiaEquity&RightsOfferingQ12016 Q12015

Firm RankMkt

Share(%)Volume(INR

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

Citi 1 27.59 33,078 3 8 5.45 22.14

ICICI 2 17.43 20,901 5 15 0.71 16.72

StateBankofIndia 3 12.98 15,555 3 4 9.29 3.69

EdelweissFinancialServicesLtd 4 12.74 15,270 3 12 2.18 10.56

DeutscheBank 5 11.83 14,187 2 7 8.76 3.07

KotakMahindraBankLtd 6 4.07 4,879 2 1 17.61 -13.54

IIFLSecuritiesPteLtd 7 2.39 2,867 3 - - -

IDFCCapitalLtd 8 2.08 2,495 2 22 0.38 1.70

JPMorgan 9 1.25 1,504 1 17 0.58 0.67

Jefferies 9 1.25 1,504 1 - - -

JMFinancialLtd 11 1.25 1,500 1 3 10.80 -9.55

CreditSuisse 12 1.18 1,412 1 5 9.02 -7.84

HDFCBank 13 1.14 1,367 1 - - -

YesBank 14 0.90 1,083 1 16 0.67 0.23

GoldmanSachs 14 0.90 1,083 1 5 9.02 -8.12

FortuneFinancialServicesIndiaLtd

16 0.35 417 1 - - -

SarthiCapitalAdvisorsPvtLtd 17 0.23 274 3 28 0.02 0.21

AryamanFinancialServicesLtd 18 0.13 160 3 26 0.04 0.09

ChoiceInternationalLtd 19 0.13 158 1 - - -

QuintessenceEnterprisesPvtLtd 20 0.06 70 1 - - -

TOTAL 100% 119,881 24 100%

IndonesiaEquity&RightsOfferingQ12016 Q12015

Firm Rank MktShare(%) Volume(IDRMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

TrimegahSecurities 1 55.45 78,790 1 - - -

LautandhanaSecurindoPT 2 22.13 31,450 1 - - -

ErdikhaElitSekuritasPT 3 11.21 15,923 1 - - -

BinaarthaParamaPT 3 11.21 15,923 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 142,084 3 100%

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22

JapanEquity&EquityLinked(FiscalYear)Q12016 Q12015

Firm RankMkt

Share(%) Volume(JPYMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

Nomura 1 46.59 347,910 21 1 42.68 3.91


MorganStanley 3 13.35 99,661 5 4 9.32 4.03

SumitomoMitsuiFinancial 4 8.28 61,809 12 2 15.44 -7.16

DaiwaSecurities 5 4.77 35,646 12 5 7.81 -3.04


6 1.41 10,556 2 9 1.75 -0.34

UBS 7 1.35 10,097 2 7 2.18 -0.83

Citi 8 1.00 7,464 1 - - -

SBIHoldingsInc/Japan 9 0.81 6,069 4 10 0.57 0.24

GoldmanSachs 10 0.74 5,552 1 8 1.87 -1.13

JPMorgan 11 0.72 5,368 2 - - -

IchiyoshiSecuritiesCoLtd 12 0.49 3,653 1 - - -

TokaiTokyoSecuritiesCoLtd 13 0.45 3,358 4 12 0.31 0.14

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 746,721 56 100%

JapanEquityOfferings(FiscalYear)Q12016 Q12015

Firm Rank MktShare(%) Volume(JPYMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

Nomura 1 25.59 107,910 17 1 35.32 -9.73

MorganStanley 2 23.63 99,661 5 3 13.08 10.55




BankofAmericaMerrillLynch 6 2.50 10,556 2 7 2.77 -0.27

UBS 7 2.39 10,097 2 6 3.44 -1.05

Citi 8 1.77 7,464 1 - - -

SBIHoldingsInc/Japan 9 1.44 6,069 4 8 0.89 0.55

GoldmanSachs 10 1.32 5,552 1 - - -

JPMorgan 11 1.27 5,368 2 - - -



- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 421,721 47 100%

JapanEquityIPO(FiscalYear)Q12016 Q12015

Firm RankMkt

Share(%) Volume(JPYMln) DealCount PrevRank PrevMktShare(%) MktShareChg(%)

Nomura 1 30.08 45,446 6 1 35.48 -5.40


MorganStanley 3 22.42 33,870 1 - - -


4 5.45 8,239 1 - - -


SBIHoldingsInc/Japan 6 3.20 4,836 3 5 4.37 -1.17




- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 151,096 26 100%

KoreaEquityOfferingsQ12016 Q12015

Firm RankMkt

Share(%)Volume(KRW

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CreditSuisse 1 23.69 644,850 3 - - -

Citi 2 12.61 343,168 2 2 31.83 -19.22

BankofAmericaMerrillLynch 3 12.57 342,141 1 - - -

MorganStanley 4 9.13 248,500 2 - - -

GoldmanSachs 5 7.01 190,928 1 6 2.41 4.60

DaishinSecurities 6 6.61 180,000 2 - - -

DaewooSecuritiesCoLtd 7 5.72 155,686 2 - - -

HanwhaInvestment&SecuritiesCoLtd

8 5.14 139,815 1 - - -

JPMorgan 8 5.14 139,815 1 - - -

NHInvestment&SecuritiesCoLtd 10 5.00 136,012 2 1 35.56 -30.56

KoreaInvestment&SecuritiesCo 11 2.19 59,733 2 3 14.22 -12.03

KBInvestment&SecuritiesCoLtd 12 1.21 32,850 2 4 10.12 -8.91

HyundaiSecurities 13 1.16 31,603 1 - - -

SamsungSecuritiesCoLtd 14 0.85 23,014 1 - - -

KiwoomSecuritiesCoLtd 15 0.62 16,800 1 - - -

HIInvestment&SecuritiesCoLtd 16 0.34 9,200 1 - - -

EBESTInvestment&SecuritiesCoLtd

17 0.23 6,350 1 - - -

HanyangSecurities 17 0.23 6,350 1 - - -

ShinhanInvestmentBank 19 0.21 5,850 1 - - -

YuantaSecuritiesCoLtd 20 0.21 5,754 1 - - -

TOTAL 100% 2,721,919 22 100%

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MalaysiaEquity&RightsOfferingQ12016 Q12015

Firm RankMkt

Share(%)Volume(MYR


CIMB 1 45.02 410 5 1 39.59 5.43

Maybank 2 36.83 335 2 3 13.77 23.06

M&ASecuritiesSdnBhd 3 9.15 83 1 8 1.90 7.25

RHB 4 8.09 74 4 5 4.89 3.20

KenangaInvestmentBankBhd

5 0.49 5 3 11 0.55 -0.06

AffinHwangCapital 6 0.32 3 1 6 3.80 -3.48

TASecuritiesHoldingsBhd 7 0.10 1 1 12 0.47 -0.37

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 910 16 100%

SingaporeEquity&RightsOfferingQ12016 Q12015


MorganStanley 1 48.41 73 1 - - -

DBSGroup 2 25.39 38 1 1 44.85 -19.46

CIMB 3 12.89 19 1 - - -

UOBKayHian 4 9.69 15 3 5 3.78 5.91

ReligareCapitalMarkets 5 1.81 3 1 - - -

RHB 5 1.81 3 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 151 7 100%

TaiwanEquity&EquityLinkedQ12016 Q12015

Firm RankMkt

Share(%)Volume(TWD

Mln)DealCount

PrevRank

PrevMktShare(%)

MktShareChg(%)

CTBCFinancialHoldingCoLtd

1 32.65 4,848 6 7 5.41 27.24

ConcordSecurities 2 13.47 2,000 3 9 4.31 9.16

HorizonSecuritiesCoLtd 2 13.47 2,000 1 16 1.23 12.24

YuantaSecuritiesCoLtd 4 9.49 1,409 4 3 8.95 0.54

SinopacSecuritiesCorp 5 8.06 1,197 6 11 3.75 4.31

TaishinFinancialHoldingCoLtd

6 7.08 1,051 7 15 1.60 5.48

KGISecuritiesCoLtd 7 6.72 997 5 1 20.47 -13.75

CapitalSecuritiesCorp 8 2.58 383 1 4 8.38 -5.80

CathaySecuritiesCoLtd 9 2.02 300 1 5 6.38 -4.36

HuaNanCommercialBank 10 1.49 221 4 17 0.98 0.51

PresidentSecurities 11 1.35 200 1 13 2.22 -0.87

WaterlandSecuritiesCoLtd 12 1.01 150 1 - - -

MegaSecuritiesCoLtd 13 0.54 80 1 8 5.30 -4.76

BankTaiwanSecurities 14 0.08 12 1 14 1.85 -1.77

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 14,847 42 100%

ThailandEquity&RightsOfferingQ12016 Q12015

Firm RankMkt

Share(%)Volume(THB


TiscoSecuritiesCoLtd 1 29.19 1,080 1 - - -

DeutscheBank 2 28.95 1,071 1 - - -

CITICSecuritiesCoLtd 2 28.95 1,071 1 - - -

FinansiaSyrusSecuritiesPCL

4 7.46 276 1 - - -

Nomura 5 5.45 202 1 - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

- - - - - - - -

TOTAL 100% 3,700 4 100%

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Bloomberg Equity & Equity Linked - League Tables Criteria

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.

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-placed offerings, certain lower hierarch titles, i.e. Jr Bookrunner.

The full version of Bloomberg’s League table Standards & Guidelines can be accessed and subscribed to on the Reports tab on LEAG<GO>.

GLOBAL EQUITY CAPITAL MARKET - Bloomberg Finance L.P.1 Global Equity Review Q1 2016 credited Global...

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