(1888PressRelease)
October 24, 2007 - Emerging markets saw record levels of initial public offerings (IPOs) in the third quarter, new figures have revealed.
According to data from Ernst & Young's quarterly Global IPO Report Brazil, Russia, China and India raised a total of $27 billion in 118 IPOs over the period.
Meanwhile, of the ten largest floats, seven were from emerging markets.
However, despite this worldwide levels of IPOs were down during the period by one-fifth, with 428 listings during the quarter - down from 552 during the preceding period.
Total capital was also down 36 per cent, from $89 billion to £57 billion.
Gil Forer, global director of IPO Initiatives at Ernst & Young, said: "The Global IPO markets still remain strong despite a drop in activity. The record numbers of IPOs in the emerging markets show that it is these countries that are driving global economic growth - international investors continue to look for high return opportunities.
"13 of the top 20 IPOs were from emerging markets and interestingly only two of those chose not to list on domestic exchanges."
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