Equity capital markets bankers can expect a few quiet months as volatility acts as a roadblock to capital raisings. But spare a thought for the companies and their underwriters who were already in the market for capital before the uncertainty peaked last week.
Financial Review DealBook analysis of open capital raisings worth more than $10 million showed 60 per cent closed below their offer price on Thursday. The analysis included raisings that closed this week but had yet to be disclosed to the market.
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Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies. Connect with Anthony on Twitter. Email Anthony at a.macdonald@afr.com
