Investing.com investing.com 31 Dec, 2020 12:30 am

Emergency cash calls, tech IPO frenzy push 2020 banker fees to record high By Reuters

Emergency cash calls, tech IPO frenzy push 2020 banker fees to record high By Reuters
Emergency cash calls, tech IPO frenzy push 2020 banker fees to record high

outside the NYSE in New York By Abhinav Ramnarayan, Clara Denina and Elizabeth Howcroft (Reuters) - Emergency corporate fundraising and a clamour for tech stock market listings pushed equity capital market volumes to over $1 trillion in 2020 and fees for investment bankers in the sector to a record high, data showed.Global equity capital markets (ECM) activity rocketed by 55% to a record $1.Sectors such as healthcare, fintech and tech are a huge part of this," said James Fleming, Citi’s global co-head of equity capital markets.Combined with demand for new growth-oriented companies -- particularly tech -- in an era of record low interest rates, that was responsible for a record-shattering year in stock market fundraising, bankers and analysts said.

Companies that were satisfied with private funding rounds in the past are now coming to the public market to take advantage of buoyant stock market valuations.1 trillion in 2020, data from Refinitiv showed.

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