Mexico takes Latin America to IPO top spot in lacklustre emerging markets

viernes 16 de octubre de 2015 12:53 GYT

By Karin Strohecker

LONDON Oct 16 (Reuters) - An increase in initial public offerings in Mexico has propelled Latin America to the top of the emerging markets IPO league table so far this year, although volumes elsewhere in the developing world are down by a third.

Tumbling commodity prices and slowing economic growth have hammered emerging markets over the first three quarters of the year, frightening away investors. But 2015 has been poor for stock market debuts overall - Thomson Reuters data showed on Friday that global IPO volumes were down 31 percent from 2014.

Across emerging markets, amounts raised via IPOs since the start of the year to mid-October have fallen by 31 percent to just over $43 billion. This compares with $63 billion over the same period in 2014, Thomson Reuters said.

But Latin American IPO volumes have jumped 133 percent to $1.9 billion compared with $800 million over the same period last year. That was down to Mexico, where listings have raised $1.7 billion from $659 million, the data showed.

By contrast, IPOs declined across the rest of the developing world. Asian volumes fell 30 percent, Africa's 50 percent and emerging European listings dropped 60 percent versus the same period last year.

"The past few years have not been bad," said Pedro Zorilla, chief operating officer of the Mexican Stock Exchange, told Reuters on the sidelines of an investment conference in London.

"We have not had a year with lots of IPOs, but in the last three to five years we have seen continuous activity," Zorilla said. He hopes to see 10 or more stock market debuts next year and 10 to 15 a year after that.

Mexican construction conglomerate Elementia came to the market in July and conglomerate Alfa listed its auto parts company Nemal the same month.   Continuación...