Market for new issues collapses
Wednesday 30 December 1998
There were only 68 new issues in the whole of 1998, raising less than pounds 3.9bn between them. This compared with 100 deals raising pounds 6.7bn in 1997 and 218 deals raising pounds 10bn in 1994.
The level of activity continued to decline into the fourth quarter, when there were only 14 deals, raising pounds 147m.
"The new issues market virtually closed down at the end of July - after the sharp fall in the stock market - and there is no hint of an upturn on the horizon," said Neil Austin, head of new issues at KPMG corporate finance yesterday.
The desperate position of the new issues market, which also affects smaller quoted companies looking to raise more money through rights issues, is forcing smaller companies to resort to private equity or bank loans.
- 1 Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
- 2 Scottish independence: Ireland since 1919 is a lesson for Scotland in what a Yes vote means
- 4 John Travolta addresses former pilot's gay romance allegations publicly for the first time
Thailand deaths: Pair's bloodied bodies found naked on Koh Tao beach
Scottish independence: Police will be on high alert on Friday whatever the result
John Travolta addresses former pilot's gay romance allegations publicly for the first time
QS university world rankings: Imperial College London leapfrogs Oxford to join Cambridge as best British university
Scottish independence exclusive: Millions of banknotes sent to Scotland in case Yes vote sparks run on ATMs
Daniele Watts: Django Unchained actress detained by Los Angeles police after being mistaken for a prostitute
The political class is doing what Hitler couldn’t – destroying Britain
Scottish independence: Nationalist leader Jim Sillars threatens pro-union companies with 'day of reckoning' after independence
Scottish independence: Yes campaign feels the heat as Alex Salmond's NHS claims come under furious attack
Portuguese academic says British are 'filthy, violent and drunk'
£23m Birmingham cycle scheme is attacked by Tory councillor for not catering to the elderly
iJobs Money & Business
£20 - 24k (Uncapped Commission - £35k Year 1 OTE): Guru Careers: We are seekin...
£20 - 24k + Benefits: Guru Careers: This is a great opportunity for an enthusi...
£280 - £320 per day: Ashdown Group: The Ashdown Group have been engaged by a l...
£400 - £450 Per Day: Clearwater People Solutions Ltd: **URGENT CONTRACT ROLE**...