Citi named top international IPO bank in APAC ex Japan

The bank said that it has raised over $30b from IPOs for its Asian clients.

Citi has been named the top international IPO bank in the Asia Pacific excluding Japan, issuing almost $5.75b in the region across 28 initial public offerings (IPOs), according to financial markets platform, Dealogic.

To date, the bank said that it has raised over $30b from IPOs for Asian clients. The bank-led IPOs across multiple markets including South Korea, India, Indonesia, the Philippines, and Hong Kong in 2021.

For all banks barring origin, Citi is the third-highest ranked international IPO bank in APAC excluding Japan following CITIC Securities and China International Capital Corporation. 

Notable recent IPOs of Citi include the billion-dollar listing of Zomato in India and XPeng in Hong Kong.

“The competitive advantages of a global network and a strong local banking network across the region means there are multiple engines driving this ECM growth. In an ever more complex and complicated world, institutional clients increasingly want a global perspective,” said Jan Metzger, Citi Asia Pacific's head of banking, capital markets, and advisory, whose bank does business in over 160 markets with a franchise spanning 16 markets in the Asia region.

Citi added that it has recorded its strongest half-year for equity and broader investment banking revenues in the region on record.

Metzger also expressed optimism about the year ahead, which he owed to a strong pipeline that included close to $5b of transactions from India.

“The pipeline is as strong and as long as it has ever been and we are confident this momentum will continue. Like Citi, our global and local clients continue to see great upside in Asia,” Metzger said.

Other international banks in Dealogic’s ranking include Credit Suisse (fifth), Morgan Stanley (sixth), Goldman Sachs (seventh), and JP Morgan (eighth).