Issuers need to lower expectations, says Cazenove

The chief executive of the mid-cap focused investment bank predicts a challenging year ahead for primary issuance.

In a year when equity deal sizes are expected to shrink as a result of lower valuations and a more selective investment approach by the buy-side, it is reasonable to expect that mid-cap issuers will account for a larger portion of the overall market.

Cazenove Asia is an investment bank that focuses primarily on the mid-cap segment which we define as companies with a market cap of about $1 billion, or deal size between $100 million and $300 million....

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