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Article: Decline in Asian IPO activity highly likely.
- Article from:
- Investment Adviser
- Article date:
- April 10, 2006
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The initial public offering activity of 2005 is unlikely to be matched this year in Asia, prompting managers to look deeper for growth.
Curtis Butler, senior portfolio manager with the Batterymach team running the AGBP21m Legg Mason Asia Pacific fund, said that IPO activity had been robust in recent months, particularly in China. Yet while most of these deals had worked out well, he said: "The success of such large deals will depend on their individual investment merits and the market environment at the time of launch.
"But the IPO success of 2005 in emerging markets may be difficult to match this year."
Last year, a widening of local equity ...