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IPO Hole Is Partly Plugged by $24 Billion Burst in Share Sales

  • Deals are helping banks hit by slump in equity underwriting
  • Markets rallied this month on prospect of smaller rate hikes
Among the largest secondary offerings in November was the $1.6 billion selldown in AmerisourceBergen Corp. by Walgreens Boots Alliance Inc. in the US.
Among the largest secondary offerings in November was the $1.6 billion selldown in AmerisourceBergen Corp. by Walgreens Boots Alliance Inc. in the US.

Photographer: Ty Wright/Bloomberg

All is not lost for equity capital market bankers. 

While initial public offerings have largely vanished, share sales have been surging. Since the start of November there have been $24 billion in additional stock sales globally, on track for the biggest monthly haul since August when almost $25 billion was raised, data compiled by Bloomberg show.