Activity in the equity capital markets totalled $1.1 billion through 15 issues during the past week, down from the $5.6 billion raised during the previous week.
Emirates Telecoms’s $510 million sell-down in XL Axiata through an accelerated offering was the biggest deal of the week and is also the biggest Indonesia ECM deal to complete so far in 2012. The bookrunners were J.P. Morgan and Morgan Stanley.
This brings total Indonesia ECM volume to $2.7 billion so far this year, down 25% from the $3.6 billion raised during the same 2011 period.
A $98 million follow-on for Kepco Plant Service Engineering through bookrunners...