China International Capital Corporation (CICC) continues to remain a dominant force in China’s investment banking and brokerage market, helping clients access both the debt and equity capital markets and remaining the favoured adviser for M&A deals.
In the April 2023 to May 2024 reference period, CICC ranked fourth among bookrunners for China onshore DCM deals, taking a 4.66% market share for credits of $54.5 billion, according to Dealogic data. It was second for A-share ECM deals, with credits for $8.4 billion and a 9.5% market share.
It was among the frontrunners on M&A advisory, too, thanks to its deep understanding of the China market, its wide client coverage and its ability to execute complex transactions.
One thing that stands apart with CICC is its focus on supporting technology-focused and innovative companies. For example, CICC was a lead underwriter and bookrunner on National Silicon Industry Group’s Rmb1.34 billion ($188.1 million) bond, which was the first science and technology innovation corporate bond from a company listed on China’s Star Market, an exchange for innovative companies.