This week’s $5.7 billion follow-on rights offering from China Merchants Bank pushed the volume of secondary offerings from Chinese companies to US$33.2 billion for year-to-date 2013.
That is a 33% increase compared to the same period of last year and the strongest year-to-date period for Chinese secondary offerings on record, according to Thomson Reuters.
A total number of 159 secondary offerings have been made by Chinese companies so far this year, up 52% compared to a year ago, also a record.
Goldman Sachs, which managed the China Merchants rights issue with China International Capital Corporation, maintains its top spot for Chinese secondary offerings. It took 19.4% market share this year.
China International Capital and Guotai Junan Securities round out the top three, with 7.8% and 6.7% market share, respectively, Thomson Reuters says.
