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009年，亚洲在全球首次公开募股(IPO)领域占据了主导地位，而欧洲和美国则落于其后。不过银行家们预计，2010年全球范围内IPO活动都将回暖。据数据提供商Dealogic的数据，就2009年IPO数量来说，亚洲是全球最活跃的地区，而中国和韩国的企业更是居领先地位，分别以183桩和61桩IPO交易成为冠亚军。与之相比，欧洲企业进行了62桩IPO，美国企业IPO数量为54桩。
很少有分析人士对中国跃居IPO之首感到吃惊。中国在去年第三季度开始在IPO市场占据主导地位，第四季度更是加快了IPO步伐。
瑞士信贷集团(Credit Suisse Group)股权资本市场负责人邦泽尔(Jeff Bunzel)说，那些要么受金融危机影响不是很大，要么刺激措施更加有力的地方会有最大数量的IPO；从某种角度讲，中国同时具备这两个特点。
亚洲也是IPO规模最大的地区：单中国企业IPO总额就高达504亿美元，占了全球总量的45%，比欧洲和美国加在一起还高出了62%。
据Dealogic的数据，同期美国IPO规模达240亿美元，而欧洲企业只有71亿美元。
在亚洲以外，全球几乎每个地区的IPO数量的百分比降幅都达到了两位数。据Dealogic的数据，全球范围来看，2009年IPO总数下滑了19%，至560桩。不过，IPO规模却超过了2008年，较2008年增长44%，至1.109亿美元。
IPO规模的增长大部分都是在中国的推动下实现的，不过巴西的表现也很引人注目。
尽管巴西只进行了六桩IPO，有两桩却表现出众：Banco Santander Brasil SA进行了今年规模最大的IPO，筹资75亿美元；VisaNet进行了年度第四大IPO，筹资43亿美元。VisaNet曾名为Cia. Brasileira de Meios de Pagamentos。
巴克莱集团(Barclays)旗下子公司Barclays Capital全球股市负责人约翰逊(Matt Johnson)说，高增长国家和IPO发售之间有着高度的相关性，所以2010年我们应该会看到中国、印度和拉美地区更多的IPO，特别是巴西。
约翰逊等人说，在中国IPO步伐将继续活跃之际，2010年可能标志着欧洲和美国的IPO活动在经历了两年的乏力表现后出现转折。
德意志银行(Deutsche Bank AG.)全球股权资本市场负责人汉索(Mark Hantho)说，与去年相比，美国和欧洲将出现IPO不成比例的活跃现象。
预计美国IPO数量将建立在2009年秋季逐步上升的基础上。尽管与2007年（也就是全球经济危机打击了全球IPO发售的前一年）相比，水平仍相去甚远，10月到12月的IPO步伐却较2008年同期有所好转──2008年10月至12月期间只有一桩IPO交易定价。
据Dealogic的数据，在欧洲，去年完成的IPO数量较2008年下滑了65%，规模减小54%。
在全球其他地方，银行家们都认为，由于私募股权基金释放投资组合企业、企业财团剥离业务部门上市，2010年的交易规模将会增大。
Lynn Cowan
Asia dominated initial public offerings of stock in 2009, with Europe and the U.S. lagging behind. But bankers expect a pickup in activity around the globe in 2010.
In terms of the number of IPOs last year, no region of the world was more active than Asia, with Chinese and South Korean companies leading the way and completing 183 and 61 deals, respectively, according to data provider Dealogic. By comparison, companies based in Europe generated 62 IPOs and the U.S. saw 54 new listings.
Few analysts, if any, were surprised by China's ascendance to the top of the heap; the country began dominating the IPO market in the third quarter and ramped up even more in the fourth.
'Places that either were less affected by the financial crisis or had higher amounts of stimulus were going to have the most IPOs. China had both of those characteristics to some degree,' said Jeff Bunzel, head of equity capital markets at Credit Suisse Group.
Asia also ruled dollar volume raised by new-stock launches: Chinese companies alone sold $50.4 billion, or 45%, of the global total and 62% more than Europe and the U.S. combined.
The U.S. listed $24 billion of deals during that time, while European companies logged just $7.1 billion, according to Dealogic.
Outside of Asia, nearly every region of the globe saw the number of IPOs completed fall by double-digit percentages. On a global basis, the total number of IPOs in 2009 declined 19% to 560, according to Dealogic. However, the size of deals trumped 2008, with the amount raised increasing 44% to $110.9 billion.
Much of the gain in dollar value was driven by China, but Brazil turned some heads, too.
Although only six offerings were done there, two were whoppers: the largest deal of the year, $7.5 billion by Banco Santander Brasil SA, and the fourth-largest, $4.3 billion by VisaNet, formally called Cia. Brasileira de Meios de Pagamentos.
'There's a high correlation between high-growth countries and IPO issuance. So we should see more volume out of China, India and Latin America, especially from Brazil, in 2010,' said Matt Johnson, global head of equity syndicate at Barclays Capital.
Mr. Johnson and others said that while China will continue its lively step, 2010 could mark a turning point for both Europe and the U.S. after two years of anemic numbers.
'Where it will be disproportionately active will be in the U.S. and Europe, on a relative basis compared to' last year, said Mark Hantho, global head of equity capital markets at Deutsche Bank AG.
The flow of U.S. listings is expected to build on the gradual increase seen this past autumn. Though still nowhere near 2007 levels, the last year before the global economic crisis sapped IPO issuance around the world, the pace of IPOs from October through December improved over the same period in 2008, when just one IPO priced.
In Europe, the number of IPOs completed during the year declined 65% and the dollars raised fell 54% compared with 2008, according to Dealogic.
Elsewhere in the world, bankers generally believe that deal sizes will be larger in 2010 as private-equity funds unload portfolio companies, and as conglomerates carve out business units.
Lynn Cowan
In terms of the number of IPOs last year, no region of the world was more active than Asia, with Chinese and South Korean companies leading the way and completing 183 and 61 deals, respectively, according to data provider Dealogic. By comparison, companies based in Europe generated 62 IPOs and the U.S. saw 54 new listings.
Few analysts, if any, were surprised by China's ascendance to the top of the heap; the country began dominating the IPO market in the third quarter and ramped up even more in the fourth.
'Places that either were less affected by the financial crisis or had higher amounts of stimulus were going to have the most IPOs. China had both of those characteristics to some degree,' said Jeff Bunzel, head of equity capital markets at Credit Suisse Group.
Asia also ruled dollar volume raised by new-stock launches: Chinese companies alone sold $50.4 billion, or 45%, of the global total and 62% more than Europe and the U.S. combined.
The U.S. listed $24 billion of deals during that time, while European companies logged just $7.1 billion, according to Dealogic.
Outside of Asia, nearly every region of the globe saw the number of IPOs completed fall by double-digit percentages. On a global basis, the total number of IPOs in 2009 declined 19% to 560, according to Dealogic. However, the size of deals trumped 2008, with the amount raised increasing 44% to $110.9 billion.
Much of the gain in dollar value was driven by China, but Brazil turned some heads, too.
Although only six offerings were done there, two were whoppers: the largest deal of the year, $7.5 billion by Banco Santander Brasil SA, and the fourth-largest, $4.3 billion by VisaNet, formally called Cia. Brasileira de Meios de Pagamentos.
'There's a high correlation between high-growth countries and IPO issuance. So we should see more volume out of China, India and Latin America, especially from Brazil, in 2010,' said Matt Johnson, global head of equity syndicate at Barclays Capital.
Mr. Johnson and others said that while China will continue its lively step, 2010 could mark a turning point for both Europe and the U.S. after two years of anemic numbers.
'Where it will be disproportionately active will be in the U.S. and Europe, on a relative basis compared to' last year, said Mark Hantho, global head of equity capital markets at Deutsche Bank AG.
The flow of U.S. listings is expected to build on the gradual increase seen this past autumn. Though still nowhere near 2007 levels, the last year before the global economic crisis sapped IPO issuance around the world, the pace of IPOs from October through December improved over the same period in 2008, when just one IPO priced.
In Europe, the number of IPOs completed during the year declined 65% and the dollars raised fell 54% compared with 2008, according to Dealogic.
Elsewhere in the world, bankers generally believe that deal sizes will be larger in 2010 as private-equity funds unload portfolio companies, and as conglomerates carve out business units.
Lynn Cowan
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