Published: August 10, 2012
Value and volume of transactions plummet.
EMEA’s equity capital markets have seen their lowest volume of deals in 15 years, according to new analysis.
Regional issuers have raised US$77.6bn in 524 transactions so far this year, the lowest year-to-date volume since 1997, when US$73.4bn was raised in 501 deals, according to data firm Dealogic.
EMEA issuers account for 22% of global equity deal volume, down from a 28% share in the same period of 2011 and the lowest share since 2010’s 21%.
Regional rights issue volume stands at US$27.4bn across 130 deals, the lowest year-to-date volume since 2005 and down 25% compared with the same period of 2011. Despite the drop, rights issues account for 35% of EMEA equity markets volume, the highest share since 2010.
UniCredit’s US$9.9bn rights offering in January through a syndicate of 11 bookrunners is the largest EMEA equity deal so far this year.