Strong global IPO market with Asia dominating in Q1

21:11, April 08, 2010      

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Global initial public offering (IPO) in the first quarter of 2010 showed substantial improvement over the same period last year, an Ernst & Young report said on Thursday.

These were mostly led by robust Asian markets and the revival of European listings.

In the first three months this year, there were a total of 267 deals globally worth 53.2 billion U.S. dollars. This is substantially higher than the 52 deals in the corresponding period of 2009 which raised 1.4 billion U.S. dollars, registering the lowest IPO activity in the last decade.

Asia continued to experience significant IPO activity, with 166 IPOs raising 35.1 billion U.S. dollars, constituting 62 percent of the deal numbers and 66 percent of the quarter's total IPO fund raising.

Nine of the 20 largest IPOs were from Asia, namely from China, Japan and South Korea.

Across Europe, there were 39 IPOs, the highest number since the second quarter of 2008.

The leading sectors by funds raised were from the financial sector (particularly insurance companies) with 16 IPOs raising 16.4 billion U.S. dollars, followed by the materials sector with 10.2 billion U.S. dollars and the industrials sector with 7.9 billion U.S. dollars.

The leading sectors by number deals were from the materials with 53 deals, industrials 51 deals and high technology industrials 38 deals.

Ernst & Young expects another strong quarter for the IPO market in the second quarter across Asia, United States and Europe, with global IPO activities continuing to be strong throughout 2010.

Source: Xinhua


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