ECM fees pool hits 17-year high as activity zooms 2.5x to to $29.5 bn

Citi topped the ECM league table as it handled $3.3 billion worth of proceeds and garnered a market share of 11.3 per cent

The fee pocketed by investment banks for handling equity share sales stood at $244 million during the first half of calendar year 2024.

This was the highest first half figure since 2007, according to LSEG Data & Analytics, a provider of financial markets data.

Capital mobilised via equity capital market (ECM) activity jumped 2.5 times to $29.5 billion — the highest-ever semi-annual total in terms of proceeds.

ECM comprises initial public offerings (IPO), follow-on offerings, such as block deals, follow-on public offerings (FPOs) and qualified institutional placements (QIPs).

Indian firms raised $4.4 billion — almost double that