European secondary share offerings hit record high - data
LONDON, April 11
LONDON, April 11 (Reuters) - Levels of European secondary share sales have soared to $53.3 billion in 2014, the strongest year-to-date since records began in 1980, weekly Thomson Reuters data showed on Friday.
Follow-on activity, when a listed company sells more shares, rose 52 percent against the same period last year, helped by the $2.1 billion offering from Spanish utility company Iberdrola and RSA Insurance Group's $1.3 billion sale.
Other European markets also showed strong activity, with mergers and acquisitions (M&A) up 85 percent to $235.1 billion in the year so far. The $40.1 billion merger between cement producers Holcim and Lafarge is the biggest M&A deal since Glencore's Xstrata takeover in 2012.
Global initial public offerings (IPOs) continued a strong run with the best year to date since 2000, more than doubling on last year to $56.9 billion, the data showed.
Morgan Stanley led the banking league tables for global M&A, while Goldman Sachs was top for global equity and equity-related deals. (For more detail on the week's investment banking data please click on: here)
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