Global: ECM bulls charge ahead despite mounting global pressures
A flurry of large US IPOs and a rejuvenation of APAC ECM has powered equity dealmaking in the third quarter to volumes of USD 271.4bn, the best 3Q for the asset class since 2021.
So far this year, volumes have clocked in at USD 686.8bn, also the highest 9M haul since – you guessed it – 2021, according to Dealogic data.
While volumes are nowhere close to the USD 1.26tn total for the first three quarters of that knockout year, or even the USD 917.4bn of 9M20, deal flow this year has propelled optimism that market conditions have normalized from the fallow years that accompanied the global interest rate hiking cycle between 2022 and 2024.
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