Big name IPOs in third quarter brighten gloom for equity market fundraising

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Big name IPOs in third quarter brighten gloom for equity market fundraising
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A couple of hefty share listings in Europe and the return of AB InBev's Asi...

LONDON - A couple of hefty share listings in Europe and the return of AB InBev’s Asian unit float in the third quarter of 2019 brought some hope to a global IPO market battered by political volatility and downbeat global growth expectations.

Fund raising through stock markets globally is down by nearly 18% in the first three quarters of 2019 compared to the same period a year ago, its lowest since 2012, Refinitiv data showed. But with Belgian brewing giant AB Inbev reviving the Hong Kong listing of its Asian Budweiser Brewing Company APAC to raise around $5 billion last week, the mood has turned a little more upbeat.

Similarly in Europe, bankers said they were feeling a little better about life after German tech firm TeamViewer TMV.DE and Swedish buyout group EQT Partners raised an overall 3.4 billion euros . European ECM proceeds are at their lowest level since 2012 in the first three quarters of the year, down 23% to $88.6 billion equivalent, while IPO volumes are down a whopping 40% to around $17 billion.

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