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Citi emerged as the top underwriter for equity capital markets (ECM) in Asia ex-Japan for the first quarter (Q1) of 2024, continuing the strong momentum built in 2023. At the end of Q1, Citi commanded a total issuance volume that was double that of the next closest competitor.
2023 was a testing time for many of Asia's stock markets through a combination of weak performance and a lack of IPOs. FA looks at what went wrong, how sentiment might improve and some of the continent's bright spots.
In 2023, the Indian arm of the investment bank worked on deals like the blockbuster $365-million Tata Technologies IPO, the $630-million Cube Highways InvIT listing and the $280-million Brookfield India REIT QIP
Furtado, the Co-Head, Asia ECM (Equity Capital Markets) at Citi believes India s attractiveness as a listing destination has increased with global supply chains in certain market segments moving into the country