Cash Tidal Wave Gives Asia Best Ever Third-Quarter Share Sales
- Firms raised $120 billion through equity sales since July 1
- There’s a fear of missing out among investors, JPMorgan says
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With the pandemic disrupting holiday plans, many bankers and investors seem to be keeping themselves busy with deals. That, along with buoyant markets and abundant liquidity, has pushed equity sales in Asia to their best third-quarter on record.
Companies in the region have raised $120 billion through initial and follow-on share sales since July 1, the most ever for the third quarter, data compiled by Bloomberg show. First-time share sales have also hit an all-time high, thanks to a jump in so-called “homecoming listings” by U.S.-listed Chinese firms seeking a trading foothold in Hong Kong.