LONDON — New share listings in Russia and China accounted for 76 percent of global IPOs so far in 2010, with January flotation volumes of $6.7 billion, the highest on record for the month, Thomson Reuters data showed.
Russia and China shared the 26 initial public offerings launched in the BRIC group (Brazil, Russia, India and China) of the four largest emerging economies this month, with a notable dearth of activity in Brazil and India. This compares with just one listing from among these four economies last January, when Brazil, Russia, India and China accounted for just 5.6 percent of IPO global activity.
"BRIC IPO volumes for the beginning of 2010 are at their largest level, in terms of both value and number of issues, for any January on record," Thomson Reuters said, adding that it had been a record IPO month in terms of value for Asia as well.
The previous January record was in 2007 when 23 issues raised $3.9 billion, while there were 22 listings and $3.5 billion in January 2008.
All but one of January's 26 deals were in China but Russia's single deal was also the biggest offering, with aluminum company RusAl raising $2.2 billion.
The materials sector accounted for 35 percent of activity, followed by energy and power.
Last year, BRIC IPOs raised a total $63 billion, accounting for over 90 percent of emerging market offerings. The world's largest IPO of 2009 was that of the Brazilian subsidiary of Banco Santander, according to data from Thomson Reuters.