American financial services firm Stifel Financial and Hong Kong’s Everbright Sun Hung Kai Company have joined forces to support advisory and capital markets requirements of US and Chinese customers.
Under the alliance, the two parties will cooperate on private capital raising, new issue listings, mergers and acquisitions, among others. The partnership will cover all Stifel-owned companies.
The capabilities of the two parties are said to be complementary, with Stifel ranked among the 10 largest equity deal managers since 2010. On the other hand, Everbright tops the ranking among Chinese backed advisers in Hong Kong.
Stifel global head of investment banking Brad Raymond said: “The pace of both capital raising in Asia and cross-border M&A is rapidly accelerating. 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.”
In this context, Stifel cited Thomson Reuters data, which reveals that the value of M&A deals announced worldwide in the first half of 2018 recorded a 64% year-on-year surge to $2.5 trillion.
Everbright executive director and CEO Li Bingtao said: “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.
“It is also an extension of our international footprint, enabling us to fulfil our commitment to serve our clients’ needs globally.”