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ASIA
Best Equity Deal
Winner: Korea Telecom
Type of deal: ADS follow-on
Amount: $2.242 million
Date: June 27 2001
Bookrunners: UBS Warburg, Morgan Stanley
| Marcus Brown | ||||||
Following the flood of jumbo issues that came out of China in 2000, Asian equity issuance in 2001 had a lot to live up to. It started well enough. In February, the by now infamous CNOOC, one of China's oil corporations, came to the market in its second attempt at an initial public offering. Salomon Smith Barney, which took much of the blame for CNOOC's previous failed IPO attempt in 1999, could only look on as CSFB and Merrill Lynch successfully got the deal away and took the glory.
The fifth-largest IPO from China to date performed well in difficult market conditions and can lay claim to being the best-performing $1 billion-plus IPO globally in 2001.