REFILE-IPOVIEW-Bankers brace for Q4 rush as global equity markets rise | Reuters

[b]jacket moncler[/b]
[b][url=http://www.moncleroutletshopping.com/women-moncler-jackets-c-10.html]moncler outlet[/url][/b]



REFILE-IPOVIEW-Bankers brace for Q4 rush as global equity markets rise
Tweet
Share this
Email
Print
Reprints
Related Topics
Stocks »
IPOs »
Markets »
Mutual Fund Center »
ETFs News »
Media »
Financials »
Healthcare »
Technology »

moncler
Fri Sep 27, 2013 9:14am EDT


moncler outlet store


moncler outlet store By Olivia Oran and Kylie MacLellan

moncler outlet store Sept 27 (Reuters) - Bankers across the globe expect a string
of large, high-profile IPOs during the rest of the year, on the
back of strong equity markets and U.S. Federal Reserve policies
that have driven an uptick in IPO activity.

moncler outlet fashion Global equity fundraising is up 16.3 percent so far this
year, boosted by low volatility, record U.S. market highs and a
resurgence of capital markets in Europe and Asia.

moncler sale The next few months could also see several notable initial
public offerings from companies with global brand appeal,
including micro-blogging network Twitter Inc, Chinese e-commerce
giant Alibaba, hotel operator Hilton Worldwide and real estate
investment trust Empire State Realty Trust.

"With continued robust market conditions, we think the
fourth quarter could go down in the history books because of the
potential for a number of billion-dollar plus jumbo IPOs across
different sectors," said Philip Drury, co-head of equity capital
markets for the Americas at Citigroup. "Last year was biased
toward small-cap growth within dedicated sectors, such as
technology and retail, but 2013 is the re-establishment of the
jumbo IPO."

Global equity fundraising volumes, including IPOs and
secondary offerings, totaled $524.4 billion year to date, up
from $450.9 billion in the same period last year, according to
preliminary Thomson Reuters data as of Sept. 26.

The increase came amid a 29 percent rise in global IPO
proceeds, excluding Facebook. A total of 467 companies
worldwide have gone public so far this year, raising $85.3
billion, compared to a year ago when 540 companies raised $66.1
billion through IPOs excluding Facebook.

Bankers are encouraging companies that are considering
public offerings to tap the markets sooner rather than later
while the going is still good.

"We're advising clients to move forward now as there are
some potential macro issues ahead, including geopolitical
factors and debt ceiling discussions," said Frank Maturo, vice
chairman, equity capital markets at Bank of America Merrill
Lynch. "Those issues could cause some short-term volatility in
the market, and when those periods occur are unknown."

A $3.9 billion IPO for Japanese beverage company Suntory
Beverage & Food helped boost deal volumes this year, as
did the $2.6 billion IPO for Pfizer Inc animal health
spin-off Zoetis Inc.

Private equity firms also continued to sell companies from
their portfolios as they looked to unload investments made
during the buyout boom.

Private equity backed companies made up 40.2 percent of U.S.
IPO proceeds so far this year, up from 20.9 percent during the
prior period.

Large IPOs from private equity backed companies have
included industrial distribution company HD Supply Holdings Inc
, drug researcher Quintiles Transnational Holdings Inc
and fragrance company Coty Inc.

Others expected later this year include retailers Burlington
Coat Factory and the Container Store.

Goldman Sachs Group Inc topped the global ranking of
equity underwriters so far this year, keeping its number one
spot. JPMorgan Chase & Co came in second, followed by
Morgan Stanley and Citigroup.

Goldman also topped the list of global IPO underwriters,
followed by Morgan Stanley.

PICKUP IN EUROPE

Europe has seen a pickup in share offerings in 2013 as
market confidence has improved and bankers working in the sector
expect the remainder of the year to continue to be busy.

In Europe, even the usually subdued holiday period of August
saw a string of equity capital market deals, including a 348
million pound ($557.2 million) capital hike by security services
firm G4S, and the sale of a 10 percent stake in French
electrical equipment supplier Rexel by its controlling
shareholder.

"We've seen a busy summer. I've never seen so much activity
in what people would normally consider a quieter period for
deals," said Klaus Hessberger, co-head of Europe, the Middle
East and Africa ECM at JPMorgan.

"Investors are moving back into 'risk on' mode to generate
some returns," he said.

As bankers and investors returned to work in September,
momentum has continued to pick up with a flurry of bloc sales
including the British government raising 3.2 billion pounds
($5.1 billion) by reducing its stake in bailed-out lender Lloyds
.

Other big deals already underway include an the initial
public offering of Britain's Royal Mail, and a 5.95 billion
pound ($9.5 billion) share issue by British bank Barclays
.

Among those expected to go public in Europe in the final
three months of the year are private-equity backed Merlin
Entertainments Group, French cable operator Numericable and
luxury down jacket maker Moncler.

"This is the first year in a while where we haven't had any
big interruptions to activity from market volatility or big
macroeconomic events," said Josef Ritter, co-head of equity
capital markets for Europe, the Middle East and Africa for
Deutsche Bank and head of the bank's ECM operations in
Germany.

"We are now in a situation where there is expectation of
good development in the US, recovery in Europe, less concern
around China, and all that in combination with the delay in
tapering has lead to a relatively benign environment for
offerings," he said.


Stocks
IPOs
Markets
Mutual Fund Center
ETFs News
Media
Financials
Healthcare
Technology
Tweet this
Link this
Share this
Digg this
Email
Reprints
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.
jacket moncler


moncler outlet


Date/Time

Thursday, October 17, 2013
12:00 PM - 12:00 PM

Location


Categories