8jld0174_DB screenshow – 20/06/22 05:58 PM Raising capital in difficult market conditions Deutsche Bank presentation at Belarus Finance and Investment Forum Minsk, 22 October 2008 Elena Yassik Senior Associate, Equity Capital Markets, Central and Eastern Europe
Raising capital in difficult market conditions. Deutsche Bank presentation at Belarus Finance and Investment Forum Minsk, 22 October 2008. Elena Yassik Senior Associate, Equity Capital Markets, Central and Eastern Europe. Deutsche Bank’s global footprint in 75 countries. Equity underwriting. - PowerPoint PPT Presentation
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8jld0174_DB screenshow – 20/04/23 01:31 AM
Raising capital in difficult market conditions
Deutsche Bank presentation at Belarus Finance and Investment ForumMinsk, 22 October 2008
Elena YassikSenior Associate, Equity Capital Markets, Central and Eastern Europe
GARRELA
Banker asked for the copy of this page at end of screenshow to be deleted.
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Deutsche Bank’s global footprint in 75 countries
Equity underwriting
Equity trading dominance
Distribution footprint
Debt Capital Markets
M&A Advisory
Depository services
Local presence in the CIS
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Deutsche Bank – Leading equity franchise in the CIS (2007 – 2008YTD)
1 Deutsche Bank 6,298.4 13.9
2 Credit Suisse 5,354.7 11.8
3 Renaissance Capital 4,975.9 11.0
4 JP Morgan 4,778.7 10.6
5 Morgan Stanley 4,517.2 10.0
6 Citigroup 4,091.2 9.0
7 Goldman Sachs 2,597.9 5.7
8 Troika Dialog 1,950.1 4.3
9 ABN AMRO Rothschild 1,391.4 3.1
10 Credit Suisse 1,072.7 2.4
Bookrunner US$ (bn) Market share (%)
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Deutsche Bank – track record in the CIS
US$449m
Initial Public Offering
Sole Global Coordinator and Joint BookrunnerApril 2008
US$€487m
Follow-on Offering
Joint Global Coordinator and Joint BookrunnerApril 2008
€253m
Initial Public Offering
Sole Global Coordinator andJoint BookrunnerNovember 2007
US$1.9bn
Initial Public Offering
Joint Global Coordinator andJoint BookrunnerMay 2007
US$8.0bn
Initial Public Offering
Joint Global coordinator and Joint BookrunnerMay 2007
Russia
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Deutsche Bank – track record in the CIS (continued)
€569m
Initial Public Offering
Joint Global Coordinator and Joint BookrunnerDecember 2006
£1.5bn
Initial Public OfferingSole Global Coordinator and Joint BookrunnerDecember 2007
Due diligenceDevelopment of theequity story Analysts presentation
Monitor markets comparables, and new issue trends
Research publication
Valuation ‘price talk’
ManagementroadshowPrice range
Investment banking valuation Research valuation Market valuation
Ma
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Co
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assessment
Managementprojections
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Key listing alternatives
International CIS
Ord GDR Ord DR Ord GDR Ord Ord RDR
Minsk MoscowLondon Warsaw Frankfurt
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Listing alternatives
Access to international capital pool for issuers from less developed markets
Flexible free float Can be recommended for deal size >US$500m 3 year track record and audited IFRS FS is required
No track record needed to obtain a listing More focused on UK rather than Emerging Markets Limited to deal size of US$200m
Main market (ordinary shares)
(GDR)
Deep liquidity for large capital raisings Recommended for deal size exceeding US$1bn 3 year track record + audited IFRS FS 25% min free float is mandatory Full compliance with the combined Code of Corporate Governance
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Listing alternatives (continued)
Good option for small and mid-cap companies
Retains emerging markets status
Gain goodwill with local regulators
Meaningless capital raising
Very limited trading
Access to local and international pool of investors
Simpler process vs LSE
Recommended for deal size of up to US$500m
Untested for foreign issuers
Through different listing segments allows CIS companies of different governance standards to list in a market with many peers