UBS AG managed to lead the pack of share-sale underwriters in the Southeast Asian Region for the first time in about six years. UBS AG had capitalized on building relationships with affluent families and a tremendous increase in the equity markets in countries that includes the Philippines.
According to data compiled by Bloomberg, the Swiss bank completed deals equivalent to 37% of the entire value of equity sales in Southeast Asia within the first half of the year. Second-placed CIMB Group Holdings Bhd, worked on deals equal to 26% in the same time period. UBS claimed underwriting roles on the larger share sales in Thailand, Indonesia, and the Philippines. One of UBS' biggest share offering was the PT Matahari Department Store's US$1.4 billion IPO in March.
"We've always worked closely, and the integration is getting even better. It was particularly clear to me that Southeast Asia was going to produce a lot of business for the next couple of years," UBS' head of equity capital markets for Southeast Asia, Stuart Mackay said.
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