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IPOs Dry Up in Developed World but Emerging Markets Show Promise
Initial public offerings ground to a halt this year in most of the developed world, as a credit crunch and bear market forced private companies to either postpone offerings, or cancel them all together.
But emerging market IPOs have flourished, accounting for 70% of the total value of public offerings worldwide since April 1.
Globally, the number of IPOs during the second quarter fell by 56% to 205, while the amount of money raised through IPOs fell 64% to $31.5 billion, according to data from Dealogic.
However, that steep decline was largely the result of a collapse in more advanced,…
31Jul2008 | Money Morning | Comments Off | ContinuedThe Worldwide Consumer Shellacking
“Let’s turn on some music…” said Brian, one sultry night in 1966.
We were far from legal drinking age, but there were plenty of saloonkeepers who didn’t seem to care. One ran a bar named “Mickey’s”…a rickety dive built on stilts. Beneath it, the salt water splashed against abandoned automobile tires and washed up beer cans into the reeds and bushes on the shore. We were 18 years old, just graduating from high school, and vaguely wondering what to do next. And if we didn’t think of something fast, the U.S. Army would come looking for us.
After trolling the airwaves for…
4Jul2008 | Daily Reckoning | Comments Off | Continued
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