Kim Posnett’s Post

The first quarter saw the fastest start to global issuance in the equity capital markets since 2018. Driving the acceleration? Improved investor sentiment, along with increased willingness to lean into valuations. Elizabeth Wood (Reed), global head of our Equity Syndicate Desk, joined the latest episode of The Markets to discuss recent IPO market trends and what’s on the radar for Q2 and onward. Listen now: https://lnkd.in/eMJX8-g8

Velocity is back.

This article by my esteemed New York based colleague Chris Mayo examines prevailing myths about US markets, but much of the same is relatable to our frothy IPO market in India - unrealistic valuations, over the top demand, crazy first day pops and the prevailing expectation that just about anything can fly…. (https://lnkd.in/evx5vRU3) Is there any wonder that over 50% of shares subscribed in India IPOs are sold within a week and over 70% within a year?

We're often asked about liquidity in London. What better way to provide reassurance to prospects than to be able to point to live examples. On Monday, Pfizer Inc. (NYSE:PFE), placed 7% of Haleon plc (HLN.L, £36bn market cap) or £2.4bn of stock via an accelerated bookbuild. Last Friday, banks started wallcrossing long-only fundmanagers and added hedge funds on Monday. The deal was launched shortly after market close on Monday at a placing price of 380p, a mere 3.3% discount to Monday's closing price and covered in just 15 minutes. You don't need to be a £36bn market cap company to do this type of deal. You could be a nanocap. As long as the story is exciting and investors have reason to believe (i.e. good management / track record etc.), there's no reason you can't execute a rapid deal too. #CapitalMarkets #FollowOns #ABBs #Liquidity #Secondary

ICYMI: Watch Ashley MacNeill, Vista’s Head of Equity Capital Markets, on CNBC’s Closing Bell as she delves into the current state of the IPO market. She highlights the essential factors for a thriving IPO asset class: a stable macro environment, eager investors and companies that report consistently and clearly. Despite a robust economy and stock market, the IPO market has been sluggish, particularly in the tech sector. MacNeill explains that many companies are staying private longer due to the rise of private credit as an alternative funding source. However, she remains optimistic, believing that public markets will regain their appeal with high valuations and increasing investor interest. Watch the full clip here: https://cnb.cx/4hhwJg4

In the dynamic world of financial markets, IPOs and the liquidity of #CapitalMarkets can be clouded by misconceptions and oversimplifications. Chris Mayo, CFA, Head of Primary Markets, Americas at London Stock Exchange Group, unravels five prevalent misconceptions about #IPOs and market liquidity. - Myth 1: All liquidity is good liquidity - Myth 2: An IPO ‘pop’ is a good thing - Myth 3: Listing venue drives valuation - Myth 4: US investors make for better shareholders - Myth 5: You have to be a unicorn to IPO, so virtually all exits will be M&A Read the full article to discover more: https://lseg.group/4eHPKWL Founders Forum Group #LondonStockExchange #RaisingCapital

Amid recent market volatility, Steven R. Halperin, CFA, Moelis’s Head of Equity Public Markets, spoke with Mergermarket to provide insights on the current IPO landscape. He noted that the IPO market has been highly idiosyncratic lately, with each deal's success or failure hinging on its individual merits. #industryinsights #capitalmarkets Read the full article here (subscription required): https://bit.ly/3yRVyxE

Join #KPMGSaltLakeCity along with experts from Wilson Sonsini, Nasdaq, and Bank of America at the IPO and Other Exit Pathways event, where #CapitalMarkets insiders and experts will bring you up to speed on the current trends in the market, alternative options for an exit strategy, and what you need to know about going public in 2024 or 2025.

Join #KPMGSaltLakeCity along with experts from Wilson Sonsini, Nasdaq, and Bank of America at the IPO and Other Exit Pathways event, where #CapitalMarkets insiders and experts will bring you up to speed on the current trends in the market, alternative options for an exit strategy, and what you need to know about going public in 2024 or 2025.

Prof Ripsy Bondia explores how behavioral biases affect investor decisions during IPOs in bull markets. She emphasizes that understanding these biases is essential for investors navigating the complexities of volatile IPO conditions. To foster a more stable and resilient IPO market environment, investors need to be more aware and promote prudent investment practices. Read the full article here: https://lnkd.in/gfGqSCiH #IPO #Investing #StockMarket #BehavioralFinance #LifeAtIMI #IMIInsights #IMINewDelhi