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| potential of the IPO market in 2010 |
Asia’s top investment banking franchises are concentrating on China in 2010, according to senior capital markets bankers in the region. The country has accounted for an ever-increasing share of investment banking revenues in Asia in the past few years, and this year the trend is set to continue. “We are likely to see $50 billion to $60 billion-worth of IPOs executed in 2010,” says Steven Barg, head of global capital markets, Asia, at UBS, “with a strong contribution from the continuing privatization of state-owned enterprises in China.
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