In response to its many critics, lead manager Goldman Sachs appeared to have fully syndicated China Development Financial Holding's CDFH deal on Friday in the face of a market showing very clear signs of indigestion. However, none would deny that the deal was anything but a struggle from start to finish and many now wonder where the next issue for either SinoPac or Chinatrust can go from here.
Since Fubon's $430 million deal of early April, a total of $1.58 billion has been raised by the top three holding companies by market capitalization and there is still at least $1.2 billion more to come. Goldman consequently attempted to structure a deal for China Development,...
