Tom Friedman got it all wrong. Had the world been as flat as he thought it is, why do they scrimp at one end and splurge at the other? In the US and Europe, they worry recession, credit squeeze and speculate the impact of mortgage crisis. In Asia, it’s celebration time. They raise funds from public markets as if there are no tomorrows. Take a look at this data culled from a report from E&Y.
Indian bourses saw over $8 billion worth of initial public offers (IPOs) in 2007, but this is just a shade higher than the world's single-largest IPO by a Russia’s VTB Bank, which alone raised $8 billion. Largest Indian IPO was that of DLF that raised Rs.91.87 billion. ($2 billion plus).
Indian bourses saw over $8 billion worth of initial public offers (IPOs) in 2007, but this is just a shade higher than the world's single-largest IPO by a Russia’s VTB Bank, which alone raised $8 billion. Largest Indian IPO was that of DLF that raised Rs.91.87 billion. ($2 billion plus).
Worldwide IPO activity raised a record capital of $255 billion till November in 2007, including $8.3 billion on Indian bourses. India was the fifth largest market in terms of number of IPOs and the seventh-largest in terms of the proceeds for the year. There were 95 IPOs till November 07 as against 78 IPOs raising $7.23 billion during 2006.
China came out on tops with total IPO proceeds of $54.4 billion through 222 issues. Globally, there were as many as 1,739 IPOs between January and November, while another 91 public issues are estimated to have hit the capital markets during December.
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All happening while US and Europe are wilting under mortgage mess. Did you say we are globalized...?
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