INVESTMENT BANKERS ARE earnestly debating the likely timing of a coming boom in initial public offerings. It shows just how strongly equity capital markets have recovered from the panic around the financial system and a dismal start to the year.
With issuers worldwide raising $274 billion, the second quarter of 2009 was the busiest for primary equity markets since the final quarter of 2007. It has been an eye-catching rebound, marked by record-breaking volume in US follow-on issues especially for banks, from a very slow first quarter when just $71 billion was raised globally.
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