Sell side Monthly archive

Feb 28, 2019
GCC equity capital markets end 2018 on strong note
Last year ended on a strong note for Gulf Cooperation Council (GCC) equity capital markets, with the fourth quarter being the best of the year as a total of five IPOs generated $1.03 bn, or 42 percent of the GCC’s annual IPO proceeds, according to a PwC report. Although a positive end to the year, the final quarter of 2018 was still some way behind the eight IPOs and $2.46 bn posted in the same quarter of 2017. Steve Drake, PwC Middle East capital markets l...
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Feb 21, 2019
European asset management research budgets fall one year on from Mifid II
Research budgets at European asset management firms have fallen since the introduction of Mifid II and independent research providers have not benefitted from the regulation, according to a report by CFA Institute, the global association of investment professionals.  In the year following the introduction of Mifid II, the scaling back of research budgets has seen the largest firms make the bi...
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Feb 19, 2019
Nasdaq moves to clarify direct listings process
This article has been updated with corrections Nasdaq has filed a proposal with the SEC clarifying it's process for direct listings without an IPO.  The move comes amid rumors that collaboration platform Slack is planning to go public via a direct listing. Last year music-streaming giant Spotify took advantage of newly changed NYSE rules to forgo u...
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Feb 05, 2019
Malaysian exchange expects better outlook on IPOs in 2019
Bursa Malaysia’s outgoing CEO is expecting the IPO market to improve in 2019 compared with the difficulties the market faced at the end of last year. ‘The IPO pipeline for this year, both in terms of numbers and size, will be much better than last year, and this includes main market listings,’ says Datuk Seri Tajuddin Atan in a statement unveiling the Kuala Lumpur stock market’s financial results for 2018. ‘The power of the market is mostly due to t...
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Feb 01, 2019
Consensus and Mifid II: One year on
Last week IR Magazine looked at how Mifid II – the mammoth European regulation that came into force at the start of 2018 – had impacted research.  In brief, European institutional investors cut budgets for external European equity research by almost a fifth in 2018, according to Greenwich Associates, which predicts a further 5 percent to 6 percent cut in 2...
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