Australian equity sales slow down

Despite a soaring ASX, the Australian primary equity market has slowed down.

Australia-listed ECM volume has plunged 42% to $4.6 billion year-to-date. The number of deals has also fallen. It is down 22% to 196 over the same period, according to data from Dealogic.

It is no better in the IPO market either, which continues to decline after a slight recovery last year. Indeed, the number and volume of flotations have dropped to their lowest levels in five years. Australia has only seen 11 IPOs so far this year raising $230.1 million. This is a 42% drop in volume and 54% fall in numbers compared...