April showers but Xiaomi offers sunnier ECM days ahead

Volatility takes its toll across Asia during April, but falling markets open up valuations, giving hope for May’s strong equity capital markets pipeline.

April showers but Xiaomi offers sunnier ECM days ahead

A combination of global volatility, public holidays and first quarter earnings results put paid to high equity capital markets activity from Asia during April. But market participants believe the month will remain the exception to the rule during 2018 as valuations become more compelling and a strong pipeline starts to unfold, led by Xiaomi’s blockbuster initial public offering.

During April, equity markets had to grapple with two big and ongoing global issues escalating trade tensions...

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