Sophistication in stock packaging. (hybrid financing instruments on international equities markets) (Selling Equities to the World, supplement to Euromoney magazine)

Apart from the surge in new internation equity issues, growing innovation in the way stocks are packaged is the most striking feature of the current Euro-equity scene.

Convertible bonds, bonds with equity warrants, convertible preferred shares, equity notes, common stock with warrants, nonvoting shares and shares in the form of depository receipts have all been successful routes for a long list of companies, many of them first-time users of the international

‘ equity market.

A Euromoney poll of internationally traded corporations planning an international equity offering, published in September, found that the favourite form of Euro-equity offering was still common shares, with 31.7%