LONDON Oct 1 German stock market group Deutsche
Boerse expects up to 10 more corporate bond issues
before the end of the year as clients seek alternatives to
raising capital via a listing.
The Boerse said on Monday it has helped firms raise 300
million euros through 11 corporate bonds so far this year,
compared with six issues totalling 349 million euros for the
whole of 2011.
"I expect another five to 10 bond placements this year and
we are confident of ending the year up on last year by the
number and value of bonds issued," said Alexander Hoptner,
executive vice president at Deutsche Boerse.
Klaus Hessberger, managing director and co-head of Equity
Capital Markets EMEA at JP Morgan, said corporate bonds
are proving an attractive alternative to a full listing.
"IPO activity has fallen to the levels we saw in 2008/2009
but there are some signs of recovery. Volatility is at a low
level and the major stock indices have recovered," he said.
German insurer Talanx is scheduled to float its shares on
Deutsche Boerse on Tuesday, having covered its books last month.
The flotation of up to 29 million new shares in a price
range of between 17.30 and 20.30 euros will value Germany's
third-biggest insurer at between 4.4 billion euros ($5.8
billion) and 5 billion euros, Talanx said in September.