Yuanta Securities
Yuanta Securities, under CEO Arthur Chen, has been a leader in this field for years. In its worst years, it remains competitive; in its best years, it out-guns the rest of the field.
Companies seeking to tap Taiwan’s markets for fresh capital gravitate toward Yuanta Securities – for good reason. A dominant force in the world of Taiwan securities since its formation nearly 60 years ago, Yuanta served as lead manager on 22 domestic initial public offerings in 2016, running stock sales for Crown Bioscience International, Tai-Shing Electronics and skincare specialist Dr Wu. It also dominated the market for follow-on offerings, with a 29.4% share in 2016, streets ahead of its nearest rival.
During the year, it helped Taiwan Mobile complete the sale of NT$10 billion ($330 million)-worth of convertible corporate bonds, the largest onshore convertible print in nearly a decade. And in December 2016, it helped Cathay Financial Holding to complete its long-planned NT$49.9 billion sale of preferred shares – the most money ever raised in Taiwan’s secondary market.
Yuanta Securities remains a powerful player in domestic mergers and acquisitions too: in January, it acted as sole financial adviser to connector maker Bizlink during its successful takeover of electrical wiring firm Leoni. Yuanta also remains a big player in the quieter reaches of the capital markets, most notably in private placements – where it led the field in 2016 – and block trades.