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Ernst & Young launches Global IPO trends report 2009
Kyiv, 14 May 2009 – Ernst & Young launches its Global IPO trends report 2009 Shifting landscape – Are you ready?, which provides detailed analysis of the major developments in worldwide IPO markets during 2008 and the first quarter of 2009. The severe economic downturn sent worldwide IPO activity in 2008 plummeting by over half since 2007. With assets being revalued globally no IPO market was insulated from the financial crisis. Shifting landscape – Are you ready? provides a full breakdown of 2008 global activity by region, industry and stock exchange.
However despite market turbulence, many quality companies continue to ready themselves to go public while waiting for market conditions to stabilize. Shifting landscape – Are you ready? includes exclusive interviews with some of the world’s leading investment banks and stock exchange leaders about IPO markets in the US, Europe, China and the Middle East and their future prospects. Sample insights include:
- The US raised most funds despite a faltering economy. The US accounted for 27% of global IPO capital raised in 2008. When markets stabilize, larger brand names or growth companies, such as cleantech and biotech, are likely to be first to go public.
- China launched the most IPOs despite a stock market plunge. In 2008, China led in IPO numbers with markets driven by 22 privatizations of state-owned enterprises. Once markets recover, mid-sized companies with reliable cash flows in sectors such as food and beverage, utilities and telecommunications may be the first to seek a public listing.
- Emerging markets dominate London listings. European IPO markets were subdued in 2008 in the face of the economic crisis. Seven of the ten European largest IPOs came from emerging market companies, particularly from oil- and commodity-rich states. Emerging markets issuers prefer London listings, a trend likely to continue.
- Saudi IPO markets thrived until late 2008. Saudi Arabia became the world’s third largest IPO market in 2008. As soon as market pricing improves, solid fundamentals, massive financial reserves and a robust IPO pipeline bode well for a promising Middle East IPO revival.
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