If debt bankers were the belles of the emerging markets ball in 2012, their equity counterparts were the wallflowers – and nowhere was this more so than in central and eastern Europe. For the first eight months of the year, as yield-hungry investors drove bond spreads across the region ever tighter, equity primary markets remained all but closed, with only a handful of high-quality secondary offerings making it to completion.
In September, however, the first signs of life returned to the market in the form of a bumper $5.2
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