Best securities house for domestic equity capital markets 2021
Citic Securities is the undisputed leader in China’s domestic equities market.
According to data provider Wind, Citic leads its closest rival by about 80% in ECM, both by volume and number of deals. Its expertise spans IPOs, follow-on offerings, rights issues and preference shares, while it also has a solid presence in convertible and exchangeable bond issuance.
What is truly impressive about Citic is the pace with which it has increased its equity business from an already high base. During Asiamoney’s awards period, the firm executed more than double the number of equity transactions than a year ago, with a 29% increase in volume.
IPO underwriting jumped 150% in terms of the number of deals, and nearly 80% by volume. The firm also seized the opportunity to increase its follow-on business more than five-fold after China eased issuance rules, working on deals such as Weichai Power Co’s Rmb13 billion ($2 billion) offering.
Citic helped more companies to list on Shanghai’s technology- and innovation-focused Star board since its launch over two years ago than any of its peers. It worked on 33 Star IPOs during Asiamoney’s awards period, versus fewer than 20 by each of its peers, according to Wind data.