On Wednesday, Numis, the leading arranger of UK equity capital markets transactions, offered a troubling update on its coming results for the quarter to the end of June 2023.
It disclosed that revenue was below the run-rate for the two prior quarters, reflecting a deteriorating market backdrop across the investment banking industry, a prolonged period of exceptionally low deal volumes and the “effective closure” of the IPO market.
Well, closed in London it may be, but investors don’t have to look too far to see that the IPO market is wide open.
Thanks for your interest in Euromoney!
To unlock this article:
