Standard Chartered to unveil equity issuance biz

standard-charteredStandard Chartered is aiming to launch its very own equity issuance business, within this year itself.

This is what the Chief Executive of the bank, Neeraj Swaroop said during his interaction with media. This means that it would be underwriting the share sales. In short, Standard Chartered is entering into the equity capital markets
(ECM).

After this, Standard Chartered would become a player in the very competitive marketplace.

Talking to a private news agency, Reuters, Neeraj said that the company was going ahead with a plan to start a business which deals with equities. This would also include ECM and would be starting by the middle of this year itself.

However, he believes that for the whole thing to start it would take at least one full year.

He further added that the model, in the beginning, would be providing services to the existing customers. It would then move over to newer customer-base as well.

And since it is a bank, the experience that it has gained from working in the financial sector, is going to be very helpful.

The financial services major has already filed a draft prospectus.