[TechWeb] Goldman Sachs Asia Co., Ltd. released news: Chinese companies continue to use A shares and refinance overseas markets, despite a sharp decline in global equity issuance in the first half of the year, according to domestic financial media reports. According to statistics, in the first half of the year, Chinese TMT enterprises issued 4.8 times the amount of overseas convertible bonds compared with the same period last year.
Goldman Sachs led nearly $21.3 billion in projects in the first half of this year. In the first half of 2019, global equity market issuance fell as much as 20 percent compared with the same period last year, while A-share equity issuance fell steadily and slightly by 2 percent. Zhu Hansong, chief executive of Goldman Sachs Gao Hua Securities, said, "this shows that Chinese companies continue to have financing needs in the course of their development."
China's "new economy" enterprises, represented by technology, media and communications (TMT), have sought funds for their growth, which has led to an increase in the total amount of convertible bonds and additional issues. In overseas markets, Chinese TMT companies issued more than $5 billion in convertible bonds in the first half of the year, 4.8 times as much as in the same period last year, and issued more than $3.1 billion, 5.7 times more than in the same period last year. In the A-share market, the amount of convertible bonds issued by TMT companies so far in 2019 has been $2.06 billion, compared with just $266 million in the same period last year.
Goldman Sachs again ranked first in the areas of issuance, bulk trading and convertible bond financing by Chinese companies, successfully completing 21 deals at home and abroad in the first half of 2019, maintaining a leading position in the business.
Wang Yajun, co-head of Goldman Sachs' Asian equity markets, said, "2018 is the year of IP, a Chinese TMT company. Some of the companies listed last year are using capital markets again this year to finance business development through additional issues and convertible bonds. "
The agency believes that the establishment of Science and Technology Innovation Board is a major development in the A-share market this year, it brings new financing channels for emerging growth enterprises concentrated in TMT and other industries.
“This is a significant advancement in China's capital market,” said Cai Wei, co-head of China Investment Banking, Goldman Sachs. “We look forward to the fact that Kechuang Board plays a pivotal role in financing Chinese companies. Kechuang Board will also become our focus. one."
According to China Securities News, the main stock issue in the first half of Goldman Sachs includes: China Citic Bank 400 million RMB A shares can be transferred, Ping An Bank 2.6 billion RMB A shares can be transferred, Zhongtian Science and Technology 4 billion RMB A shares can be transferred to the debt, and the price of RMB 2.1 billion RMB A shares of the Chinese bank is a large deal, in that follow-up release of the US $1.58 billion U. S. share, the US $1.2 billion U. S. share can be transferred, and the US $1 billion U. S. share can be transferred. The US $7.5 billion US share can be transferred to the debt, and the US $1.1 billion Hong Kong-Hong Kong-share IPO, the Hansen's $77.9 billion Hong Kong-share IPO, the cornerstone of HK $2.6 billion Hong Kong-share IPO, The green leaves are $300 billion in debt.