BANKING fees from mergers and acquisitions (M&A) transactions in the Asia-Pacific, excluding Japan, fell to an eight-year low of US$473.1 million in the first quarter of 2020, down 39.2 per cent from a year ago, according to Refinitiv data as at April 2. Read more at The Business Times.
Among the top M&A deals in the year to date was CapitaLand Commercial Trust and CapitaLand Mall Trust'sOn the whole, investment banking activities generated US$5 billion in fees in the Asia-Pacific during the first quarter of 2020, down 8.8 per cent from a year ago.
Asia-Pacific investment-grade bonds hit an all-time high, raising US$358.4 billion. The financials sector accounted for 37.2 per cent of the region's bond proceeds, driven by Postal Saving Bank of China's perpetual bond issuance worth US$11.4 billion. Initial public offerings in the region saw their strongest start in almost a decade, raising US$15.9 billion in proceeds - 93 per cent higher from a year earlier. The number of IPOs grew 16.8 per cent from a year ago, driven by Chinese listings.
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