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China Corporate and Investment Banking Awards

Best for cross border ECM 2018

CICC

Even though China International Capital Corp was not the leader in the league table for offshore fund-raisings of Chinese enterprises, it was the most successful among Chinese brokerage houses.

According to Dealogic, CICC notched up 16 initial public offerings between June 2017 and May 2018, helping Chinese companies to raise $1.9 billion. While that is far fewer than league table leader Morgan Stanley, the Beijing-based brokerage house was the only Chinese firm in the top 10, and ranked ninth in the league tables for the period.

Founded in 1995 and led by chief executive Bi Mingjian, the bank is as a joint venture between Morgan Stanley and China Construction Bank. Its top deals in the last year include helping China Everbright Bank in its HK$31 billion ($3.9 billion) secondary share sale, the largest such H-share transaction in 2017, and helping Postal Savings Bank of China in a $7.3 billion preference share sale in Hong Kong.

CICC’s other successes include helping Taiwanese electronic components manufacturer FIT Hon Teng, a subsidiary of Taiwan’s electronics assembling company Hon Hai Electronics, in a HK$2.7 billion IPO in Hong Kong. The IPO was the largest by a Taiwan-based firm in recent years. It was also joint bookrunner for Chinese fintech firm Qudian’s $1 billion IPO on the New York Stock Exchange, and helped Israeli cosmetics laser manufacturer Sisram Medical in a $125 million IPO in Hong Kong, and ZhongAn Online P & C Insurances $1.75 billion IPO in Hong Kong.

CICC’s biggest IPO in recent years, however, came after the May 31 cut-off date for the awards period. It succeeded in helping Chinese mobile phone brand Xiaomi with a $5.4 billion IPO in Hong Kong on June 29 – the biggest IPO in Hong Kong so far this year.

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