Elite investment banks and their preferred supply-side clients have been the biggest beneficiaries of the $20 billion capital raising blitz since April, earning a cool $200 million off the 10 largest deals despite the low risks attached.
The floodgates have opened on the Australian Securities Exchange, with $20 billion of capital raisings announced between April 1 and May 15, resulting in a median return of 14 per cent for investors, analysis by corporate advisory firm Vesparum Capital shows.
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Aleks Vickovich leads the Financial Review's coverage of wealth management, specialising in the business and regulation of investment markets, financial advice and superannuation. Email Aleks at aleks.vickovich@afr.com
