Stifel Financial Corp. (NYSE: SF) and Hong Kong’s Everbright Sun Hung Kai Company Limited (“Everbright Sun Hung Kai”) have announced a strategic partnership designed to help U.S. and Chinese clients with advisory and capital markets needs across global markets.
The arrangement, which extends to all Stifel-owned companies, will focus on cross-border cooperation on everything from private capital raising, to new issue listings, and mergers and acquisitions.
“The pace of both capital raising in Asia and cross-border M&A is rapidly accelerating,” noted Brad Raymond, Global Head of Investment Banking at Stifel. “As companies increasingly think more globally, being able to leverage the local market expertise of Everbright Sun Hung Kai in Asia makes our value proposition to clients that much stronger.”
According to Thomson Reuters data, the value of M&A deals announced globally in the first half of 2018 was US$2.5 trillion, up 64% compared to the same period a year ago. Deals involving companies based in different countries accounted for more than 40% of total transactions.
The market for initial public offerings during the same time period was also among the strongest on record. From January through June, there were an industry leading 97 IPOs in Hong Kong alone, capturing nearly 15% of all global new offerings. Asia Pacific, as a region, accounted for nearly half (46%) of global IPOs.
“This partnership is especially timely given The Hong Kong Stock Exchange’s ongoing effort to ease restriction requirements on the local listing of technology and biotechnology companies, sectors of particular focus for Stifel,” noted Li Bingtao, Executive Director and CEO of Everbright Sun Hung Kai. “It is also an extension of our international footprint, enabling us to fulfill our commitment to serve our clients’ needs globally.”