China International Capital Corporation, Morgan Stanley Dean Witter
For Asia's equity markets, the year 2000 belongs to the Chinese privatization programme, with three equally landmark deals - Petrochina, Unicom and Sinopec - competing for one award. As the largest of the three and the one that fully encapsulated renewed momentum towards the Mainland's growth story, Unicom wins by a nose. The deal also stands clear because of the flawless execution that helped it enjoy an easier and more successful passage through the primary markets than its most immediate predecessor Petrochina, which became a flashpoint for WTO negotiations.
To lead manager Morgan Stanley's credit, this smooth ride was by no means certain when the deal...
