Goldman Sachs Equity Markets Boss Says IPOs Wont Pick Up Until After The Australian Election

Photo: Getty/Ryan Pierse

Recent market losses have knocked the wind out of what was already a tough period for initial public offerings in Australia.

iSelect — the comparison website — found out the hard way when its shares fell sharply after its debut yesterday. Shares went down 15.7% from the $1.85 issue price, finishing at $1.56.

In an article by Michael Bennett at The Australian, Goldman Sachs head of equity capital markets Sean Walsh said IPOs probably wont pick up until after September.

“There’s a lot of pitching activity for IPOs going on. But I’d be surprised if it turned into material IPO issuance at these levels of volatility . . . it feels to us activity levels are going to be very slow until after the election.

“It’s at the end of reporting season, during which major equity issues rarely happen.”

Now read: AMP Paid Far More Income Protection Insurance Claims Than It Expected This Year

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