Equity capital markets’ fourth-quarter dollar volume drops by more than two-thirds from peak levels

Global equity capital market issuance fell sharply to $127 billion as of Dec. 19, down from $400 billion in the full fourth quarter a year ago, thus ending a weak year for capital raising as the bull market went bust in 2022.

That’s a drop of more than two-thirds, and few if any equity market transactions are on the calendar for the balance of 2022, with interest-rate hikes, inflation and the war in Ukraine creating strong headwinds for deal making.

So far in full-year 2022, equity capital markets have raised $582 billion, well below the $733 billion raised in just the first half of 2021.

The U.S. total for equity capital market issuance is $167.5 billion in 2022, down from $779 billion in 2021 and the lowest total in at least a decade, according to Dealogic.

With $1.8 billion in the deal, Americana Restaurants International Plc

was the largest new listing globally in the fourth quarter, followed by the U.S. listing Mobileye Global Inc.
the Israeli autonomous-vehicle unit of Intel Corp.
and by the $897 million IPO of Marafiq in Saudi Arabia.

Korea’s LG Energy Solution
ranked as the largest IPO of the year globally, followed by Porsche AG
and the Dubai Electricity and Water Authority

Meanwhile, mergers and acquisitions totaled $3.6 trillion in 2022, down 38.8% from 2021’s record of $5.9 trillion.

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