Equity Capital Market
After a robust first quarter the market inevitably tapered off in the second period with only $16.8 billion being raised compared with $26.2 billion. But the total figure of $43 billion is just $12 billion shy of the $55.7 billion raised in the whole of 2003. Goldman Sachs leads the way at the halfway stage of 2004 with $6.2 billion raised from 19 offerings.
This figure was boosted further by the $800 million convertible bond for Formosa Petrochemical priced on June 28.
In second place sits Morgan Stanley with a shade above $5 billion from 19 transactions. UBS completes the top three with $3.4 billion from 16 deals.
Last year's top placed...