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GC Asia
Oil equity deal plans hit by virus fears, but are investors turning green?
Equity investors are losing their appetite for oil and gas stocks, just at a time when three of the biggest IPOs being planned in EMEA are from that sector. The coronavirus outbreak is sapping Chinese demand, leading to a weak oil price. But some bankers believe investors are also making a more fundamental shift away from fossil fuels, which could even lead to a permanent tipping point. Sam Kerr and Jon Hay report.
Equity capital markets bankers are finding it more difficult to interest investors in share issues for oil and gas companies. The turn has been sharp: just two months ago, the Saudi Arabian national oil company Aramco completed the largest ever IPO for $29.4bn.
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