Equity capital markets proceeds up 38% at $21.4 billion in 2019

Initial public offerings experienced their third consecutive annual decline, totalling $2.5 billion in 2019, down 46.2 per cent from last year

Fees from investment banking activities touched $1 billion in 2019, a 5.2 per cent increase over the previous year and the second-highest mop-up after the record $1.2 billion collected in 2017, according to a report by Refinitiv.

Debt capital market underwriting fees fetched a record $251.7 million, up 70.1 per cent from a year ago. Equity capital markets (ECM) underwriting fees reached $165.2 million, a 1.6 per cent uptick from 2018, while syndicated lending fees fell 5.1 per cent from last year and generated $322.4 million. Merger and acquisition (M&A) advisory fees slowed down and totalled $301.3 million, down 11.2