CICC had an impressive year in 2024 across its investment banking franchise in Mainland China.
Most notably, the firm ranked third as bookrunner for domestic equity capital markets (ECM) deals, fourth on underwriting domestic bonds, and first in the league table of financial advisors for domestic mergers & acquisitions (M&A).
In ECM, for example, among its 21 deals last year were several landmarks. For example, the Rmb12 billion (US$1.7 billion) A-share private placement for China Petroleum & Chemical Corporation (Sinopec) was the company’s first equity financing since 2014 and the only A-share equity deal in 2024 which exceeded Rmb10 billion.
At the same time, CICC complete other deals with significant market influence in 2024, including the A-share IPOs of INTSIG Information Co, and of SigmaStar Technology.
CICC also showcased the full range of its bond underwriting capabilities in 2024. An example was CapitaLand Group’s debut issuance in China’s bond market, marking the first sustainability-linked Panda Bond issued by a Singapore-based company – a deal that propels the opening of the domestic financial market through innovation in terms of financial connectivity between China and Singapore.
Meanwhile, CICC also shone in 2024 in terms of M&A activity. In total, it advised on 59 completed China domestic M&A transactions with an aggregate volume of nearly US$32 billion, leading to a 16% market share, outperforming other domestic and international competitors.
This was a result of serving the priorities of the domestic national development agenda, as CICC completed many complex, innovative and unprecedented transactions that have contributed to state-owned enterprise reform, A-share major asset restructuring, privatisation of listed enterprises, industrial consolidation and integration, and strategic investment.
CICC’s landmark M&A deals in 2024 included Haier Group’s strategic investment in Shanghai RAAS. This was the largest A-share buyout on record in the healthcare sector and the largest-ever M&A in China’s blood product industry. CICC also acted on the privatisation of SciClone by scheme of arrangement, and on the sale of control of APT Medical to Mindray through a share transfer and waiver of voting rights.
Beyond investment banking, CICC also differentiated itself in its brokerage services. With a one-stop offering covering investment research, sales and trading, products, and cross-border services for domestic and global institutional investors, the firm’s mix of over 630 professionals maintained a top ranking among market peers in the 12 months to end-December 2024.
Judges praised CICC’s brokerage performance in terms of its strengths in market share, research and cross-border deal execution.
In particular in the institutional sector, the firm saw revenue improve on a quarter-over-quarter basis, by seizing opportunities in offshore transactions, increasing trading volumes of Hong Kong and US stocks. Also in 2024, the firm launched its self-developed algorithm for stock trading.
“As a leading institution with Chinese roots and global reach, these awards honor CICC’s success. As we mark 30 years, we remain committed to connecting clients to global markets.”
Xu Jia, Deputy Head of Investment Banking Department
“We are honored to receive this award from FinanceAsia, a testament to our professionalism and commitment to delivering top-quality, one-stop f inancial services.”
Wilson Zhang, Global Executive Head of Equities
Contact
¬ Haymarket Media Limited. All rights reserved.