Global listings activity has been the highest on record so far this year, with firms raising a total of $24 billion from initial public offerings (IPOs), according to Thomson Reuters data on Friday. Asia, which dominated equity capital markets in 2010, continued to lead the field, with China accounting for 41 percent of issuance, including wind turbine maker Sinovel Wind's $1.4 billion listing last month.
Boosted by strong energy and commodity prices, energy and power has been the most active sector, making up 30 percent of fundraising, followed by industrials on 16 percent. US pipeline company Kinder Morgan raised around $2.86 billion earlier this month in the largest US energy-related IPO since 1998, upping the size and price of its offering after strong demand. Fundraising activity has been buoyed by relatively strong stock markets, with world equities, measured by the MSCI All-Country World Index, hitting 2-1/2 year highs this month despite unrest in North Africa.
The $24.3 billion raised globally since the start of January is a 20 percent increase on the same period last year, the data showed. Secondary offerings have also seen a boost, up 23 percent year-on-year to raise $67.7 billion globally. With several big listings - including a $3.7 billion offering from US hospital operator HCA Holdings and a $2.4 billion IPO by Denmark's ISS - currently in the works, and a huge pipeline of deals still to launch, the market shows no signs of slowing.
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