Keeping score: BRIC flotations
• BRIC IPO volumes for the beginning of 2010 are at their largest level, in terms of both value and number of issues, for any January on record.
• Asian IPO issuance for January 2010 to date has reached a similar record, in terms of value, being the largest January on record.
• BRIC IPOs account for 76% of total global IPO activity for the year so far. This is up from 5.6% in January 2009.
• Materials tops the industry breakdown this month with 35% of the activity. Energy & Power and High Technology come 2nd & 3rd respectively.
• China issuance accounted for 67% of the activity for January 2010 to date
• The largest BRIC issue so far this year was United Company Rusal’s US$2.2bln IPO. BNP Paribas, Credit Suisse, Bank of America Merrill Lynch, BOC International (China), Nomura Securities, Renaissance Capital, VTB Capital, and Sberbank are all bookrunners for the deal.
Rusal shares fell heavily on their Hong Kong debut earlier on Monday.
The FT recently ran a big profile of Jim O’Neill, the Goldman Sachs economist who coined the term BRIC a decade ago.