Citi said it emerged as the top underwriter for equity capital markets in Asia excluding Japan in the first quarter of 2024, continuing the strong momentum it built in 2023.
The American bank said that at the end of first quarter, it commanded a total issuance volume that was double that of the next closest competitor.
Citi led majority of the largest transactions year-to-date across Asia markets, successfully executing and pricing a combination of domestic and cross-border block trades, real estate investment trusts (REITs), global depository receipt (GDRs), American depositary receipts (ADRs) and convertible bonds.
“We continue to see increased activity levels and have a strong pipeline of transactions waiting for the right windows to come to market. Investors continue to pivot to growth, and the Asia region outperforms in this regard across several sectors and thematics,” said Udhay Furtado, head of Asia North/Australia and Asia South ECM origination and solutions at Citi.