Sell side Monthly archive

Jun 26, 2019
African IPOs see dramatic drop in first half of 2019
The African IPO market saw a 28 percent decline in the first half of 2019, with capital raised falling to $341 mn, compared with $472 mn during the same period in 2018, according to data compiled by global law firm Baker McKenzie. The sharp fall can be attributed to the 80 percent fall in domestic capital-raising in Africa – standing at only $85 mn from four IPOs, compared with $419 mn from the same number of IPOs in the first half of 2018. The data reveal...
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Jun 25, 2019
North American IPO market sees decline in first half of 2019
The US Federal government shutdown and subsequent SEC backlog and delay in activity in the IPO market caused a significant decline in North American offerings in the first few months of 2019, according to data compiled by global law firm Baker McKenzie. What was expected to be a robust performance in the region with some highly anticipated mega-listings didn’t quite deliver. Activity did pick up, however, as the year progressed. Indeed, North America is the...
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Jun 24, 2019
Capital raised from China-Hong Kong cross-border IPOs falls in first half of 2019
The legacy of 2018’s stellar performance in Asia-Pacific, which was mostly driven by an uptick in high-value Chinese cross-border deals into Hong Kong, has cast a shadow over activity in the region in the first half of 2019. Both the amount of capital raised and the number of IPOs overall fell in the first six months of this year, down by 40 percent to $24.3 bn and 33 percent to 305 on the same period in 2018, according to data compiled by global law firm Baker Mc...
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Jun 19, 2019
EMEA IPO market struggles as global IPOs see big fall
Capital-raising in global IPO markets fell by 37 percent in the first half of 2019, with volume plunging 34 percent compared with the same period in 2018, according to data compiled by global law firm Baker McKenzie. A total of $69.8 bn was raised across 514 IPOs – the lowest for value and volume since 2016. The US federal government shutdown, continuing trade tensions between the US and Beijing, the ongoing Brexit saga and the decline of mega-IPOs all cont...
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Jun 14, 2019
Citi warns of ‘full-scale bear market’ in the S&P 500
Concerns about US tariffs on Mexico may have waned but there are enough problematic US trade scenarios for Citi strategists to be concerned about the impact on the financial markets. ‘Tensions are mounting and the outcome looks more likely to be driven by politics than economics,’ writes Citi’s global macro strategy team, led by Mark Schofield, in a note to clients this week. US President Donald Trump ‘is likely to continue to take a hard line,’ warns the ...
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Jun 07, 2019
Hong Kong slips in IPO rankings as US exchanges benefit from Uber and Lyft
The NYSE has been ranked the top exchange for IPO proceeds in the first five months of the year, followed by Nasdaq and knocking Hong Kong into third place, according to data from Refinitiv. The NYSE raised around $15.9 bn – 28 percent of the global IPO market – between January 1 and June 6, helped by Uber’s $8.1 bn listing in May, the data provider shows. Nasdaq, with listings raising slightly more than $11 bn, also benefitted from the IPO of its own r...
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Jun 04, 2019
How the investment community responded to Brexit
‘There isn’t a return. That bridge has been pulled up.’ That’s how Anne Finucane, Bank of America’s vice chair, described her firm’s relocation of its European headquarters from London to Dublin at a conference earlier this year. Whatever Brexit we end up with – hard, soft or no Brexit at all – the decision of the UK to vote in favor of leaving the EU has led to a permanent redrawing of the financial services map in Europe. Put simply, London is on t...
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Jun 04, 2019
Trade tensions provide opportunities for Chinese listed companies, says CSRC head
The ongoing trade debacle between China and the US presents opportunities to Chinese listed companies, according to Yi Huiman, head of the China Securities Regulatory Commission (CSRC). The trade tensions will force listed companies to ‘strengthen innovation, improve independent research and development capabilities, raise product competitiveness and achieve sustainable development,’ Yi says in a statement reviewing the position of the Chinese capital markets....
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