Global equities have been pummelled over the past few weeks and, despite signs of a recovery in the last two trading sessions, market participants expect meagre ECM activity until stability returns.
Indeed, since Alibaba shattered all records and raised $25 billion in the world’s largest initial public offering, a significant chunk of flotations have performed poorly, Dealogic data shows.
Online payment company MOL Global plunged 35% on its Nasdaq market debut on October 9 and is down 38% up to October 20.
Hua Hong Semiconductor dropped 5% on its first day of trading on October 9, although it has since recovered to be...
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