Equity: New year’s revolution

Equity: New year’s revolution


The volume of equity capital market raisings for 2012 – standing at $23.78 billion towards the end of December – has fallen well short of the $34.65 billion for 2011 (itself considered low). Bankers and many issuers are hoping for a rebound this year. There are grounds for optimism on two fronts: the belief that Brazilian valuations are so low that investors will regain their interest and continued enthusiasm for the ex-Brazil story. And, say some bankers on a grimmer note, could things get any worse? At the end of 2012, Mexico continued to be the bright spot in the sector. Macquarie brought a Fibra real estate fund transaction. (Fibras are similar but not identical to REITs.) This was th

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