4 | The Deloitte M&A Index Q3 2015 Factors influencing M&A in Q3 2015 China’s IPO boom could fuel M&A Figure 4. Chinese outbound M&A deal values by status of acquirer, 15 YTD China is in the midst of an unprecedented IPO 2012- boom and recent developments such as the Disclosed deal values ($bn) launch of the Shanghai-Hong Kong Stock Connect 50 are creating windows for Chinese companies to 40 tap into the institutional investor market. 30 20 Increasingly these companies are using the 10 IPO proceeds to pursue their M&A ambitions. 0 2012 2013 2014 2015 So far this year almost 40 per cent of international YTD acquisitions were done by publicly-listed Outbound M&A transactions by Chinese public companies ($bn) companies, the highest percentage for the last five Outbound M&A transactions by Chinese private companies ($bn) years. Number of Chinese IPOs, 2012-15 YTD 255 A slowing Chinese economy is spurring companies 215 2014 206 to seek growth through overseas acquisitions. 2012 Chinese companies have announced $42.4 billion 2015 YTD worth of overseas deals, of which publicly-listed companies accounted for $25.6 billion, outpacing 114 private sector companies for the first time. 2013 Source: Deloitte analysis based on data from Thomson One Banker