Over 30 Years of Insights

CLSA’s clients know us for being out of the box thinkers who provide unrivalled insights on the issues and trends impacting investment decisions.

CLSA was founded in 1986 by Jim Walker and Gary Coull, two former journalists who focused on ‘the story’. Our journalistic heritage has never left us and for over thirty years we have told the story of Asia.

True pioneers in the development of the Asian securities industry, over 20 years they built what is today Asia’s leading brokerage and investment group. Both Jim and Gary passed away too young.

Jim Walker (1949 – 2004)

Gary Coull (1954 – 2006)

Timeline

2022 Awards and Rankings Highlights

1. Corporate Finance & Capital Markets Awards

The Asset 2022 Triple A Country Awards for Sustainable Finance

Best Deals in China Offshore

• • BEST SUSTAINABILITY / GREEN BOND

  Bank of China – US$400 million fixed rate sustainability bond/US$300 million two-year fixed rate green bond/US$300 million three-year fixed rate green bond
  CITICS – Bookrunners and lead managers

  *The sustainability and green bonds were part of the total US$2 billion fund raising by Bank of China launched through its different global branches. This was the largest series of senior bond issuance with ESG focus from the same Chinese financial institution in 2022.

• • BEST SUSTAINABILITY-LINKED/GREEN BOND

  Yunnan Provincial Energy Investment Group – US$230 million green bond and sustainability-linked bond
  CITICS – Bookrunners and lead managers

  *The offering features key performance indicators relating to increases in wind power and solar power generating capacity. If the sustainable performance target 1 (SPT 1) is not achieved on June 30 2024, the coupon rate will step up by 15bp per annum and 10bp per annum if it fails to achieve SPT 2 with effect from the interest payment date on October 21
  2024.

• • BEST GREEN DIM SUM BOND – AUTO

  SAIC-GMAC Automotive Finance Company – CNH1 billion green Dim Sum bond
  CITICS – Green structuring advisers, global coordinators, bookrunners and lead managers

  *This was the debut offshore bond offering by SAIC-GMAC Automotive Finance and also the first green bond issued by a Chinese auto finance company offshore. The proceeds were allocated to extend loans to purchase new energy vehicles.

• • BEST GREEN DIM SUM BOND – LGFV

  People’s Government of Shenzhen Municipality – 3.9 billion offshore yuan local government green bond
  CITICS – Global coordinators, bookrunners and lead managers

  *This was the first overseas issuance of offshore yuan government bonds by a Chinese local government and the first offshore Chinese local sovereign green bond. The proceeds were allocated to fund green projects such as water conservation, clean transportation and sponge city construction. It garnered a strong demand from international and Chinese investors from countries along the “One Belt, One Road” initiatives and offshore yuan financial centres.

• • BEST IPO

  China Tourism Group Duty Free Corporation – US$2.068 billion IPO
  CITICS – Global coordinators and bookrunners

  *This was the largest travel retail IPO in the world over the past 16 years and the first travel retail IPO in Hong Kong. The stock price closed at HK$224.67 each on January 6 2023, up from the August 2022 IPO price of HK$158.

Best Deals in Macau

• • BEST GREEN BOND

  China Construction Bank (Macau) – US$500 million Sofr floating rate green bond
  CITICS – Global coordinators, bookrunners and lead managers

  *This was the world’s first green bond issued based on the EU-China Common Ground Taxonomy and the first secured overnight financing rate (Sofr) floating rate green bond offering in Greater China region.

Best Deals in SEA

• • BEST IPO

  Citicore Energy REIT Corporation – 6.40 billion pesos IPO
  CLSA: International bookrunners

  *This is the first renewable energy-focused real estate investment trust (Reit) in the first Philippines and the first non-real estate company to list via Reit in the Philippine Stock Exchange. As such, it was structured differently from other local Reits as all deposited properties are leased out to renewable energy generators.

• • MOST INNOVATIVE DEAL

  ACEN Corporation – 17.4 billion pesos energy transition mechanism for South Luzon Thermal Energy Corporation
  CLSA: Lead arrangers (Share placement)

  *This is the first energy transmission mechanism transaction in the Philippines designed for the early retirement of the South Luzon Thermal Energy Corporation coal plant in 2040 – or 15 years ahead of the end of its full technical life. This is expected to result in the significant reduction in carbon emissions of about 32 million metric tonnes.

The Asset 2022 Triple A Sustainable Capital Markets Awards

• • BEST BLUE BOND AND SUSTAINABILITY BOND

  People’s Government of Hainan Province of People’s Republic of China 1.2 billion offshore yuan blue bond/3.8 billion offshore yuan sustainability bond
  CITIC Securities: Bookrunner and lead manager

  *This was the debut Dim Sum bond issuance by the Hainan Government, and the first blue and sustainability bonds from a Chinese local government, thus expanding the spectrum of yuan internationalization. The transaction was also the first offshore bond offering by a local government in 2022, which further complete the offshore yuan bond yield curve for Chinese issuers.

• • BEST GREEN BOND – RENEWABLE ENERGY

  China Merchants Bank (Sydney) US$400 million renewable energy-themed green notes
  CITIC/CLSA: Bookrunner

  *The issuance marked the first ever renewable energy-themed green bonds in alignment with the Common Ground Taxonomy issued by a Chinese joint stock commercial bank, and also the first offshore bonds issued by China Merchants Bank Sydney branch.

• • BEST GREEN BOND – BIODIVERSITY

  Bank of China (Paris) US$400 million biodiversity-themed green bond
  CITIC Securities: Bookrunner and lead manager

  *It was the world’s first USD-denominated biodiversity themed green bond, and the first biodiversity themed green bond in Europe.

• • BEST GREEN BOND – CARBON NEUTRALITY

  Industrial and Commercial Bank of China US$2.68 billion equivalent multi-branch, multi-currency carbon neutrality-themed green bond
  CITIC/CLSA: Bookrunner and lead manager

  *The proceeds will be used to finance and refinance eligible green projects such as renewable and clean transportation projects with expected substantial carbon emission reduction benefits. The deal was the largest one-time offshore senior notes issuance by a Chinese bank in 2022 and attracted ESG investors working on net zero commitments.

• • BEST GREEN BOND – TRANSMISSION

  State Grid International Development Company US$350 million senior unsecured green bond
  CITIC/CLSA: Bookrunner and lead manager

  *This was the company’s first green bond offering and was part of the total US$1 billion issuance. The green bond proceeds were utilized to fund eligible green projects in line with State Grid’s green finance framework such as renewable energy, energy efficiency and clean transportation. The green bond offering was highly favoured by ESG and green bond investors despite a 45bp tightening from the initial price guidance as it attracted a 6.4x oversubscription.

FinanceAsia

• • House Awards – Asia

  Best Sustainable Finance House – CITIC Securities

• • Deal Awards – Asia

  Best IPO – GoTo $1.1bn IPO – CLSA Underwriters

• • Regional Deal Awards – Asia

  Best of China – Beigene’s US$3.5 Billion STAR-MARKET IPO – CITIC Securities JBR

2. Fixed Income, Currencies & Commodities Awards

Singapore Exchange

• Singapore Exchange FX Futures Trading Partner Award 2022 – CITIC CLSA FICC

Bond Connect

• Bond Connect 2022 Northbound Top Market Maker – CITIC Securities

3. Wealth Management Awards

• In Hong Kong Leaders’ Choice 2022, CSIWM won “Financial Institution, Excellent wealth management service brand”

• In Hong Kong Leaders’ Choice 2022, CSIWM won “Financial Institution, Excellent wealth management service brand”

4. Fund Services Awards

• 13th Caishi China Fund & Wealth Management, Jie Fu Awards, CLSA Fund Services won “Best Offshore Fund Administrator”

• In HFM Asian Services Awards 2022, CLSA Fund Services won “Best Administrator-Under $30 BN Single Manager”

5. Capital Partners Awards

• The 6th Healthcare Investment Excellence List, 2022——Best Healthcare PE Investment Institution of the Year

6. Asset Management Awards

• I&M (Insights & Mandate) – Award of China Bond Off-shore (3-year)

• One year Golden Bull Overseas Private Fund Investment Manager (Fixed Income)

7. Institutional Equities Awards

Asiamoney Brokers Poll 2022

Regional – brokers

• No.2 Best Regional Brokerages (Asia ex Australia and Japan)
• No.2 Best Regional Brokerages for Research (Asia ex Australia & Japan)
• No.2 Best Regional Brokerages for Sales (Asia ex Australia & Japan)

Regional – individuals

• No.1 Best regional quantitative / technical analysts – Laurence Balanco
• No.2 Best regional economists – Eric Fishwick
• No. 3 Best regional analysts for banks – Hans Fan
• No. 3 Best regional analysts for insurance – Hans Fan

Australia

Brokers

• No.1 Best international brokerages
• No.1 Best brokerages for sales
• No.1 Best brokerages for corporate access
• No.3 Best brokerages for execution
• No.3 Best brokerages for research

Individuals

• No.1 Best economist – Eric Fishwick
• No.1 Best quantitative/technical analyst – Laurence Balanco
• No.1 Best analyst for consumer discretionary – Richard Barwick
• No.1 Best analyst for consumer staples – Richard Barwick
• No.1 Best analyst for financials (non-banking) – Ed Henning
• No.1 Best analyst for industrials – Daniel Kang
• No.1 Best analyst for materials – Daniel Kang
• No.1 Best analyst for software & internet services – Ed Henning
• No.1 Best analyst for telecommunication services – Elijah Mayr
• No.1 Best sales trader – Patrick Plummer

China (A&B shares)

Brokers

• No.2 Best domestic brokerages
• No.2 Best brokerages for corporate access
• No.2 Best brokerages for execution
• No.3 Best brokerages for research
• No.3 Best brokerages for sales
• No.3 Best brokerages for Stock Connect Northbound trading

Hong Kong

Brokers

• No.3 Best brokerages for corporate access

India

Brokers

• No.2 Best international brokerages

Indonesia

Brokers

• No.1 Best international brokerages
• No.1 Best brokerages for ESG research
• No.2 Best brokerages for research
• No.2 Best brokerages for sales
• No.2 Best brokerages for execution
• No.3 Best brokerages for corporate access

Individuals

• No.1 Best analyst for small/mid caps – Jonathan Mardjuki

Japan

Brokers

• No.1 Best brokerages for corporate access
• No.1 Best brokerages for execution
• No.2 Best international brokerages
• No.2 Best brokerages for research
• No.2 Best brokerages for sales

Individuals

• No.1 Best strategist – Nicholas Smith
• No.1 Best economist – Eric Fishwick
• No.1 Best quantitative/technical analyst – Laurence Balanco
• No.1 Best analyst for automobiles & components – Christopher Richter
• No.1 Best for corporate access – Kaoru Shibuya

South Korea

Brokers

• No.2 Best international brokerages
• No.2 Best brokerages for research
• No.2 Best brokerages for sales
• No.2 Best brokerages for corporate access
• No. Best brokerages for execution

Individuals

• No.1 Best analyst for real estate – Steve Chung
• No.1 Best analyst for transportation & logistics – Steve Chung

Malaysia

Brokers

• No.1 Best international brokerages
• No.2 Best brokerages for research
• No.2 Best brokerages for sales
• No.3 Best brokerages for corporate access
• No.3 Best brokerages for execution
• No.3 Best brokerages for ESG research

Individuals

• No.1 Best analyst for semiconductors & semiconductor equipment – Paul Yap
• No.1 Best analyst for technology hardware & equipment – Paul Yap
• No.1 Best salesperson – Sean La Faber
• No.1 Best sales trader – Hazel Yap

Pakistan

Brokers

• No.3 Best international brokerages

Individuals

• No.1 Best analyst for real estate – Naumair Jadoon
• No.1 Best analyst for telecommunication services – Naumair Jadoon

Philippines

Brokers

• No.1 Best international brokerages
• No.1 Best brokerages for research
• No.1 Best brokerages for sales
• No.1 Best brokerages for corporate access
• No.2 Best brokerages for execution

Individuals

• No.1 Best strategist – Alfred Dy
• No.1 Best economist – Anthony Nafte
• No.1 Best analyst for small/mid-caps – Bennette Fajardo
• No.1 Best analyst for banks – Alfred Dy
• No.1 Best analyst for consumer discretionary – Bennette Fajardo
• No.1 Best analyst for consumer staples – Joyce Anne Ramos
• No.1 Best analyst for energy – Bennette Fajardo
• No.1 Best analyst for financials (non-banking) – Alfred Dy
• No.1 Best analyst for materials – Joyce Anne Ramos
• No.1 Best analyst for real estate – Marc Espino
• No.1 Best analyst for software & internet services – Marc Espino
• No.1 Best analyst for telecommunication services – Marc Espino
• No.1 Best analyst for utilities – Bennette Fajardo
• No.1 Best salesperson – Andre Mikael Dy

Singapore

Brokers

• No.2 Best international brokerages
• No.3 Best brokerages for sales
• No.3 Best brokerages for execution

Individuals

• No.1 Best quantitative/technical analyst – Laurence Balanco

Thailand

Brokers

• No.2 Best international brokerages
• No.2 Best brokerages for research
• No.2 Best brokerages for sales
• No.3 Best brokerages for execution

Individuals

• No.1 Best quantitative/technical analyst – Laurence Balanco
• No.1 Best analyst for banks – Weerapat Wonk Urai

Taiwan

Brokers

• No.2 Best international brokerages

Institutional Investor All-Asia Research Local Broker Rankings Awards:

• No.3 Overall Broker – Australia/New Zealand
• No.2 Overall Broker – Indonesia
• No.1 Overall Broker – Malaysia
• No.1 Overall Broker – Philippines
• No.3 Overall Broker – Singapore
• No.2 Overall Broker – South Korea
• No.1 Overall Broker – Thailand

KEY FACTS

CLSA provides corporate finance & capital markets, asset management, wealth management and securities services to global corporate and institutional clients.

• Headquartered in Hong Kong
• Located in 21 cities across Asia, Australia, Europe and the United States
• Securities/Corporate Finance & Capital Markets/Asset Management/Wealth Management
• No.1 Overall Combined Regional Research & Sales for Asia (ex-China A&B), Japan and Australia in the Asiamoney Brokers Poll 2018-2017
• 2,000 employees globally
• CLSA’s parent company is CITIC Securities

CITIC Securities

CLSA’s parent company CITIC Securities is China’s leading brokerage and investment bank^*.

With the mission to become a world-class, China-focused, global investment bank, CITIC Securities acquired CLSA in July 2013 and became the first Chinese brokerage to purchase a global financial institution. CLSA is now a wholly-owned subsidiary of CITIC Securities, China’s leading securities firm and largest underwriter of Chinese debt and equity.

CITIC Securities was established in October 1995 and headquartered in Shenzhen. The Company offers a wide range of financial services and products including securities brokerage, investment banking and asset management, to a large and diverse client base encompassing corporations, financial institutions, governments and individuals.

Together, CITIC Securities and CLSA share the common vision of becoming a dominant force in global broking and investment banking driven by a culture of excellence, integrity and independence.

For any further information, please see www.cs.ecitic.com

* CITIC Securities was No.1 Securities Company in China in terms of Revenue and Net Profit in 2017 according to its 2017 full year financial results announced in March 2018.