Investors and issuers jump through IPO window
A run of peripheral and emerging markets names over the last couple of weeks have given ECM bankers confidence that the strong run of post-summer issuance is likely to continue into winter. With two big Russian IPOs in the market — Tinkoff Credit Systems and Alrosa — alongside a splurge of southern European ECM issuance and deals from other neglected sectors and regions, the IPO market seems firmly open, at least for now.
Bankers are confident that there will be another 10 or more IPOs by Christmas.
“In EMEA, if you include small deals in the Middle East and eastern Europe, accounts say there are 20 IPOs on the docket,” said one senior ECM banker. “Whether they are deals that are
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