Hank Erbe, global head of equity capital markets at Fox-Pitt, Kelton, says the broad financial services sector will continue to provide leadership, noting that the sector represented more than 25% of global volume by midyear.
"Of the top 10 equity transactions that priced in 2006, six have come from financial services companies," says Erbe
To be sure, 2006 has seen several noteworthy deals from the financial services sector worldwide, including MasterCard
, Bank of China
, Sumi-tomo Mitsui Financial Group
and Austria's Erste Bank
And thanks to the drive for privatization in China, Erbe notes, a healthy flow of transactions led by Chinese banks will be a feature of the second half of the year.
Another area of focus will be the insurance/reinsurance sector and the so-called Bermuda Class of 2005, which was formed post-Katrina.
"These companies may look to go public after this summer's hurricane season," says Erbe