HSBC has entered the initial public offering market for the first time this year, leading the flotation of Motor Oil, a Greek oil refiner, with the National Bank of Greece.

Last year HSBC was ranked 30 in the league tables for bookrunners and global co-ordinators of IPOs in Europe, according to Dealogic Capital Data. The bank led nine deals in 2000 for €501.6m ($428.3m).