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More Indian companies to raise IPO in U.S.
By siliconindia
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Wednesday, 13 August 2008, 00:47 IST
Bangalore: In the coming years, a large number of Chinese and Indian companies are expected to offer stocks in the U.S exchange. As per the survey by Gavin Anderson & Company, the lawyers who advise on Initial Public Offerings think that there will be an increase in IPO in 2009.
Michael Kaplan, a partner at Davis Polk & Wardwell says, "We are still seeing Chinese companies looking to register initial public offerings, along with companies in India and Brazil talking about doing IPOs in the U.S." He further says, "The S.E.C. is making moves to be more flexible to foreign issuers."
According to Investment Dealers' Digest reports, among the lawyers interviewed in the survey in May and June, 93 percent believes that new stock listings in the United States will be much stronger next year. The condition of the stock exchange is thus likely to improve.
The scenario of this year still looks much shady as there are only 80 companies in the U.S. to go public at the end of the second quarter, whereas the number was 90 three months back, reports Earnst and Young. "Market performance needs to stabilize for at least a quarter before we hope to see stronger IPO pipeline activity," says Maria Pinelli, Director, Earnst & Young, strategic growth markets in America.
