A bumper start to the year in the global market for new equity issues has seen funds raised through initial public offerings jump by 50 per cent so far, marking a shift in investor sentiment after years of declining deal volumes and high-profile failures.
Some $23bn worth of fresh equity has been raised in IPOs this year, up from $15bn in the same period last year, according to data from Dealogic.
The trend has been fuelled by rising equity markets as well as strong recent after-market performances of recent IPOs, with shares in the five largest flotations up an average of 20 per cent this year.
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