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Awards

Asian deal of the year 2013: China Galaxy Securities

China Galaxy Securities $1.1 billion H-share IPO
Joint global coordinators Nomura, Goldman Sachs, JPM, Galaxy International, ABCI
return to the Deals of the Year 2013 index

Initial public offerings in Hong Kong during the first half of last year were something of a novelty.

So a $1.1 billion flotation that popped 11% on its opening day, regardless of its pricing, was something to sit up and take notice of.

At the time it came to market in May, China Galaxy Securities was the largest Asia FIG IPO of the year and the second-largest Hong Kong IPO. In successfully making its stock market debut it kicked off a revival in the Hong Kong IPO market, which has largely struggled to recapture former glories in recent years. China Galaxy’s flotation paved the way for a host of other banks to access the public markets. After its success, issuers including China Everbright, Bank Chongqing and Huishang Bank proceeded with their own deals, further building momentum for the market as a whole in the second half of the year.

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