Business Services Industry
Australian float activity stable amid market volatility.
Australasian Business Intelligence, March, 2003
Mar 09, 2003 (The Australian Financial Markets Newsletter - INSTO - ABIX via COMTEX) -- A total of 42 companies listed on the Australian Stock Exchange during 2002, according to a survey by PricewaterhouseCoopers (PwC). The eleventh annual PwC Survey of Sharemarket Floats reveals that the 42 floats raised about $A3.2bn. This is more than twice as much as the $A1.5bn raised by the 40 floats in 2001. According to Greg Keys, PwC's corporate finance and investment banking partner, the strong increase in value was due to a number of large infrastructure and utilities listings. The bulk of the funds coming from floats during 2002 - $A2.4bn - was from seven large capitalisation floats.
Publication Date: 7 March 2003
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