Global Capital Markets Update with Kroll
Private equity investments
Patience is proving to be a virtue for a private equity industry that began 2024 sitting on more than 28,000 portfolio companies valued at more than $3 trillion, according to a report by Bain & Company, as average hold...more
Many biopharmaceutical companies are facing challenges raising cash through traditional equity markets. While venture investment activity saw a slight increase in the first half of 2024 as compared to the equivalent period in...more
Recent weeks and months have seen regular coverage on the growing trend of large UK based companies exploring listings on US stock exchanges such as New York Stock Exchange (NYSE) and Nasdaq at the expense of the London Stock...more
In July 2023, the Investment Research Review (the Review) commissioned by the UK government published its findings into investment research in UK capital markets. The Review made the following seven recommendations, seeking...more
As part of the wider review of the UK’s capital markets regulatory landscape, the FCA published Consultation Paper CP23/10, which sets out reforms for companies with listed shares on the Main Market of the London Stock...more
This digest outlines some of the significant legal work undertaken by Conyers on behalf of our clients around the world since the beginning of 2022. The year was challenging for many of our clients, with global uncertainty...more
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee held a panel discussion on recent trends in taking a company public during its October 13, 2022 meeting. The panel, “Update on the...more
The latest proposals for reforming the UK equity capital markets, in response to Lord Hill’s UK Listing Review of March 2021 (the Listing Review), have been announced following the publication of the UK Secondary...more
On March 30, the SEC released comprehensive proposals for rule changes that would materially expand the liability regime for SPAC transactions, including by limiting the availability of a commonly used safe harbor for...more
IPOs of Latin America-based companies enjoyed a robust year in 2021, especially when it came to listings in Brazil in sectors like fintech - In line with global trends, Latin American issuers recorded surging IPO volumes...more
Strong pandemic-era performance and a look around the corner "IPO activity in Latin America has hit record levels in 2021, with the region’s largest economy taking the lion’s share of the bounty." During the first eight...more
Since late 2019, space- and satellite-based companies and other companies in the aerospace and defense sector have been the focus of interest from special purpose acquisition companies (SPACs). Similarly, SPACs have been...more
SPACs, or so-called “blank check companies”, are an alternative and expedient route to going public, but the financial reporting, tax, and governance aspects of the SPAC’s future investments must be considered. Previously...more
The European debt and equity markets shrugged off the impact of a nearly total shutdown due to COVID-19 at the end of the first quarter of 2020 to rebound with strong performances in the second half of the year. As activity...more
2019 was a challenging year for equity capital markets. Proceeds from IPOs fell by over 25% in the UK, and by more than 30% across Europe. A number of political and economic factors, which contributed to pricing uncertainty...more
Performance in the U.S. capital markets was mixed in 2018, with the equity new issuance market showing strength through most of the year and the debt issuance markets softening. The initial public offering (IPO) market had...more
In a recently published Practical Law Capital Markets Global Guide 2018 article, “Equity Capital Markets in the United States: Regulatory Overview,” Counsel Brian Hirshberg and Partners Anna Pinedo and Remmelt Reigersman...more
In October 2017 at the Chinese Communist Party National Congress, President Xi Jinping consolidated his hold on power and cemented himself as what many commentators are calling the most powerful Chinese leader since Mao...more
Danny Tricot (London, capital markets): Capital markets in Europe were generally positive in 2017, recovering from a mixed year in 2016. The first half of the year was particularly strong for high-yield issuances in Europe,...more
The U.S. high-yield and investment-grade debt markets saw significant increases in 2017 over 2016 in dollar volume and number of issuances. The U.S. equity indices reached new highs throughout the year, with the Standard &...more
The U.S. capital markets experienced continued volatility throughout much of 2016, as the bond and equity markets were affected by a series of significant events: the November U.S. presidential election; the June Brexit vote;...more
2016 turned out to be a terrible year for IPOs, both in terms of number of deals and aggregate proceeds. According to Renaissance Capital’s U.S. IPO Market 2016 Annual Review, only 105 companies went public on U.S....more
The International Financial Law Review (IFLR)’s Bankers’ Counsel Poll was compiled with Morrison & Foerster LLP. With input from partners Anna Pinedo and James Tanenbaum, poll questions were formulated. Using recommendations...more
With a total of 284 U.S. operating company IPOs in 2014, the U.S. securities market might appear to be on an upswing – after all, this was its biggest year since the dot com era ended in 2000. Nonetheless, this figure does...more
This year has seen a resurgence of activity in the Middle East equity capital markets, with players such as National Commercial Bank and Qatar Petroleum in the spotlight and growing interest from both regional and...more