Companies backed by private equity raised a total cash of US$20.5bn through 103 initial public offerings (IPOs) between January and November 2012, according to data released by Ernst & Young (E&Y).
The figure suggests that the total for this year will be significantly lower than for 2011, when a total of 116 deals raised US$38.6bn. However, in the US there were 67 offerings in the first 11 months of 2012, against 62 during the whole of 2011, and at US$15.8bn the US accounts for nearly 80% of the total capital raised this year.
The Asia-Pacific region, which saw 43 IPOs raise US$6bn in 2011, has managed only US$3.3bn from 31 deals so far this year of which US$2.1bn came from the dual listing of IHH Healthcare on the Singapore and Kuala Lumpur exchanges. Europe is also sharply lower, with only five deals raising US$1.4bn so far this year against 11 deals raising US$2.9bn in 2011.
“Lowered investor confidence on continued concerns around macroeconomic growth equated to lower volumes of IPOs in 2012,” said Jeffrey Bunder, global private equity leader at E&Y.
“However, those deals that priced during the year generally performed well on the first day of trading – and more importantly, the majority of those companies successfully held on to those initial gains.”
On the second day of this year's AFP conference Trump's potential tax reform, using synthetic debt and the expected benefits of SWIFT GPI were all hotly discussed topics.
Today CGI and GTNews have announced the launch of the fifth annual Transaction Banking survey report, which offers which offers critical insight into the corporate-to-bank relationship.
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Treasurers are being expected to do more work with fewer resources than ever before, so it is little wonder that the automation of day-to-day operations was highly discussed on the second day of EuroFinance, the annual treasury event held in Barcelona this week.