EMEA IPOs Not Immune To Global Equity Correction

If we are to believe the newspaper headlines, EMEA is to become the new Eldorado of IPOs in 2010. After raising US$9.9bn in 2009 or the smallest amount since 2003, EMEA IPOs are expected to reach more than the US$28bn raised in 2008, according to bankers at Citigroup, Bank of America and Deutsche Bank. While in 2009, EMEA IPOs accounted for just 9% of global IPO activity, these banks expect them to return to levels in line with the long-term average of 38%. We examine what factors underlie these bullish forecasts and we offer a note caution to optimistic

To read the full article, please choose one of the following options: