KUALA LUMPUR, Sept 2- CIMB Group leads its first major Taiwan deal, acting as joint bookrunner for the US$400 million (RM1.3 billion) convertible bond issued by Advanced Semiconductor Engineering (ASE).
ASE is the world’s largest independent provider of semiconductor packaging and test services.
“We could not have had a better name for CIMB’s first major Taiwan transaction,” said Group Chief Executive of CIMB Group, Datuk Seri Nazir Razak (pix), in a statement Sunday.
“ASE is a global heavyweight in the technology sector and the positive response to the issue despite market volatility underscores the inherent strength of top Asian corporates,” he said.
The issuance is the first convertible bond deal by CIMB in Taiwan and its investment bank’s second in North Asia this year.
With a market capitalisation of US$6.2 billion (RM20.3 billion), ASE accounted for 18 per cent of global market share in its sector in 2012.
The zero-coupon, zero-yield issue is scheduled to mature in 2018 with an exercisable put option in the third year.
The ASE offering attracted strong demand with books covered within 30 minutes and multiple times oversubscribed.
CIMB Group completed the expansion of its investment banking platform in Asia Pacific in July 2013 with the launch of its investment banking and brokerage business in Taiwan.
Ronald Song heads the investment banking business while Jeffrey Toder, Branch Manager and Head of Taiwan Research, leads the 32-strong team in Taiwan, providing institutional broking to domestic and international clientele.
CIMB Taiwan initiated coverage of 67 Taiwanese stocks, which account for 60 per cent of the domestic market capitalisation and span nine sectors with 19 subsectors, such as technology, finance, property, petrochemicals, consumer and building materials.
CIMB Group is Malaysia’s second largest financial services provider and one of ASEAN’s leading universal banking groups.
It offers consumer banking, investment banking, Islamic banking, asset management and insurance products and services.
Headquartered here, the Group is now present in eight out of 10 ASEAN nations — Malaysia, Indonesia, Singapore, Thailand, Cambodia, Brunei, Vietnam and Myanmar.
Beyond ASEAN, the Group has market presence in China, Hong Kong, Bahrain, India, Sri Lanka, Australia, Taiwan, Korea, the US and UK.
CIMB Group has the most extensive retail branch network in ASEAN with more than 1,000 branches as at June 30, 2013.
CIMB Group’s investment banking arm is also one of the largest Asia Pacific-based investment banks.
CIMB Group operates its business through three main brand entities namely CIMB Bank, CIMB Investment Bank and CIMB Islamic.
CIMB Group also holds 97.9 per cent of Bank CIMB Niaga in Indonesia and 93.7 per cent of CIMB Thai in Thailand.
CIMB Group is listed on Bursa Malaysia via CIMB Group Holdings Bhd.
Its market capitalisation amounted to about RM63.1 billion as at June 30, 2013. The Group has some 42,000 employees across 17 countries.
-BERNAMA
