Stephen Lacey is US Editor for International Financing Review, helping to oversee editorial content across the region. He has particular expertise in coverage of the equity capital markets – IPOs, follow-on stock sales, and equity-linked securities – spanning the entire corporate life cycle, from venture and private equity to entry and maturation in the public markets.
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Investment bankers are setting up shop in Midland, Texas as the oil industry drives equity issuance, despite the commodity struggling to break back above US$50 per barrel.
Southern Company delivered on its promised equity raising, sealing a US$1.61bn overnight stock sale last Tuesday.
Faced with anaemic returns available in fixed income, investors are flocking to the US equity market in the hope of closing performance gaps. And with stock market valuations near historic highs, shareholders are rushing to cash in on a rare opportunity.