Drawing on deep regulatory expertise and a strong product innovation pipeline, CICC delivered another successful year in supporting China’s economic transformation.
In the A-share market, CICC ranked fourth as bookrunner for equity financing with aggregate underwriting of RMB108.16 billion ($15.9 billion), a 583% year-on-year increase. The bank notably sponsored the Shanghai Stock Exchange main board listing of Huadian New Energy, the renewable power subsidiary of state-owned utility giant China Huadian Corporation. The deal was the first RMB10 billion-level main board IPO under the registration-based regime and the only A-share IPO to exceed RMB10 billion during the year.
On the debt side, CICC helped 666 issuers complete 4,384 domestic bond transactions worth RMB1,342.25 billion. Innovation defined the year’s activity. The firm lead-underwrote CapitaMalls Asia Treasury’s RMB1.2 billion medium-term notes (the first publicly offered sustainability-linked Panda Bond from a multinational), acted as special plan manager on the RMB453 million follow-on of the CCB Housing Rental Fund Investment Property ABS (a market first for the product type), and launched the Shanghai Stock Exchange’s inaugural ‘lab economy’ sci-tech bond for Xi’an Urban Development.
In M&A, CICC topped China league tables with 86 deals worth $128.15 billion. It advised Alibaba on the $1.69 billion sale of hypermarket operator Sun Art to DCP Capital and the $1.02 billion divestment of department store chain Intime Retail to apparel group Youngor. It also led Bain Capital’s $3.93 billion exit from data centre operator Chindata’s Mainland business to a consortium led by HEC Group, the largest M&A transaction ever recorded in China’s data centre industry.
