quarter rush bred 11s for sale as global equity markets rise
Federal Reserve policies that have driven an uptick in IPO activity. market highs and http://www.infdes.com a resurgence of capital markets in Europe and Asia.
The next few months could also see several notable initial public offerings from companies with global brand appeal, including micro blogging network Twitter Inc, Chinese e commerce giant Alibaba, hotel operator Hilton Worldwide and real estate investment trust Empire State Realty Trust.
"We think the fourth quarter will probably go down in the story books because there are a number of billion dollar plus, jumbo IPOs across different sectors," said Phil Drury, co head of equity capital markets for the Americas at Citigroup (NYS:C). "Last year was all about small cap growth within tech and retail, but 2013 is actually the reestablishment of the jumbo IPO."
Global equity fundraising volumes, including IPOs and secondary offerings, totalled $524.4 billion (326.0 billion pounds) year to date, up from $450.9 billion in the same period last year, according to preliminary Thomson Reuters data as of September 26.
Bankers are encouraging companies that are considering public offerings to tap the markets sooner rather than later while the going is still good.
"Right now, we are telling issuers to go because there are some potential macro issues out there such as Syria and debt ceiling discussions," said Frank Maturo, vice chairman of equity capital markets at Bank of America Merrill Lynch. "Any macro issues could cause some short term volatility in the market and you just don't know when those periods are going to occur."