이 기사는 2020년 01월 07일 08:00 thebell 에 표출된 기사입니다.

South Korea’s Mirae Asset Daewoo secured first position in arranging acquisition financing in 2019 in a tight competition, followed by NH Investment & Securities. The state-run Korea Development Bank (KDB) jumped into third place.

According to the bell's 2019 league tables, acquisition financing arranged by domestic financial firms totaled 22.31 trillion won in 83 deals, compared to 14 trillion won in 75 deals in 2018. In the first six months of 2019, around 11 trillion won worth deals were done while 11.34 trillion won worth deals were done in the second half of the year.

Mirae Asset Daewoo topped the league tables for the second straight year. The securities firm arranged a total of 19 deals worth around three trillion won. Mirae Asset Daewoo lagged behind the runner-up NH Investment & Securities in terms of deal value, but managed to secure first place by arranging more deals. Its adjusted market share was 13 percent.

Mirae Asset Daewoo made a strong start for the year with arranging deals worth 1.5 trillion won in the first quarter of 2019. The brokerage firm arranged a more than one trillion won refinancing of Ssangyong Cement Industry. In the second quarter, the securities firm arranged 92 billion won worth deals, standing at second position as of the end of June. Thanks to five deals, including refinancing of KCFT and acquisition financing for Homeplus in the fourth quarter, Mirae Asset Daewoo could finish the year as the number one.

NH Investment & Securities came in second by a small margin in terms of adjusted market share. In terms of deal value, NH Investment & Securities arranged deals worth 3.44 trillion won, around 500 billion won more than that of Mirae Asset Daewoo. However, its deal volume, which stood at 13 deals, was a little short of Mirae Asset Daewoo’s 19 deals.

NH Investment & Securities mainly arranged large deals. It participated in seven out of 13 deals that were worth more than 500 billion won. The securities firm arranged deals worth more than two trillion won, including refinancing of Hanon Systems and Homplus and deals worth more than one trillion won, including refinancing of Daesung Industrial Gases and acquisition financing of Linde Korea.

It is notable that KDB has managed to jump into third place in 2019. Until the end of June, the bank stood at seventh place. However, thanks to six deals worth more than two trillion won, the bank finished the year as number three. Its adjusted market share stood at 10.1 percent, 1.9 percent points lower than NH Investment & Securities. KDB’s advance in the second half was due to the financing for SKC’s acquisition of KCFT. The bank solely arranged the deal worth 1.2 trillion won.

KEB Hana Bank which came in fourth has shown stable performance every year. The bank is the only financial firm that has been included in the top five lists for the fifth straight years since 2015. KEB Hana Bank ranked fifth in 2015, first in 2016, and fourth from 2017 to 2019. The bank arranged 15 deals worth 1.72 trillion won with adjusted market share of 8.8 percent. It showed especially positive performance in deals related to Hahn & Co., such as refinancing of Hanon Systems and acquisition financing of Joy Rent a Car.

Korea Investment & Securities (KIS), which had secured third position until the end of first half of 2019, dropped to tenth in the second half, ending the year as fifth position. The securities firm arranged 13 deals worth 1.97 trillion won in 2019. KIS arranged Woongjin Thinkbig’s 1.1 trillion won acquisition of Coway in the first half of 2019 and participated in deals related to Anchor Equity Partners, including acquisition financing of Kakao Page and Etoos.

the bell’s league tables are based on cash withdrawal, excluding revolving credit facility (RCF). Rankings are based on adjusted market share, the average of market shares in deal value and volume terms.

(By reporter Han Hee-yeon)