This year was shaping up to be yet another record-shattering year for Latin American IPOs but a sharp stock market correction in May and June put paid to any such hopes. Many IPOs have been cancelled over the past couple of months, and the few that have come to market have struggled out of the gate.
The end had to come eventually. The Latin primary equity markets were three times bigger in 2004 than they were in 2003, and then grew by another 50% in 2005. Then volumes in just the first five months of 2006 reached 90% of the total for 2005.
But after the...
