TMT investment banking activity in APAC slated for growth in H2: Citi

Citi’s clients are “increasingly looking to raise capital” for growth and M&As, it said.

Citi anticipates a growing pipeline of investment banking activity in the technology, media, and telecommunications industries across the Asia Pacific region, particularly in South Korea, India, and Taiwan. 

The bank is anticipating the second half of 2024 to be active, building on some of the “green shoots” that Citi has observed.
 
“Activity is picking up. We are beginning to see the pipeline built across the region,” James Perry, Citi’s head of technology banking for Asia, commented.

Perry noted that data infrastructure has been more active in the past 18 months, and that Citi is now seeing increases across other subsectors. 

“Our clients are increasingly looking to raise capital to support organic and inorganic growth and as the strategic M&A dialogue picks up, activity will increase,” Perry added.

Citi has much to look forward to: it is the top ranked bank for TMT investment banking activity related to mergers and acquisitions, having advised over $6b of TMT-related M&A, according to Dealogic data.

Citi is also the top bank for TMT investment banking activity related to equity, having raised over $5b from equity capital markets via 11 transactions for TMT issuers. These include follow ons for Samsung Electronics, Tata Consultancy Services and WT Micro.