While there were a handful of large, well-known issuers that were testing the markets by the end of last year, Furtado notes that there are “firmer legs to that now”, which is “obviously correlated” to issuers’ view that there is a “turn” in the interest rate environment.
A perceived peak in interest rates has led to more companies thinking about going public, says Udhay Furtado, Citi’s Asia head of equity capital market origination and solutions.
“We have seen, in the last five months, that there has been an opening of the issuance windows… We’ve seen IPO activity, certainly in the US, but increasingly seeing a stronger pick-up in other markets as well,” he adds.
