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Summary
Corporations with US publicly traded equities raised $20.1 billion across 133 equity follow-on offerings during Q1 2023, which is a 52% increase in total proceeds raised compared to Q1 2022. Identifying the optimal market conditions is paramount to deciding when to bring a follow-on issue to market, which can be further facilitated with advanced analytics and workflow tools that improve the efficiency of the syndication process. Equally important is an investor’s willingness to participate in the offering, which requires the ability to analyze historical equity price and financial performance augmented with securities lending data to get a full picture of shifts in market sentiment and performance from an issuers’ past offerings.
- Identify the market conditions and security factors that commonly surround well-performing follow-on offerings
- Leveraging equity capital markets data, analytics, and workflow solutions to facilitate the issuance process
- Analyze stock borrowing trends between the filing and pricing of an offering, as well as borrowing behavior near the lock-out expiration date
- Highlight recent trends in follow-on issuers’ equity price and financial performance post-pricing
Speakers
S&P Global Market Intelligence
Chris Fenske
S&P Global Market Intelligence
Head of Capital Markets Research
Chris Fenske is currently Head of Capital Markets Research for the Global Markets Group at S&P Global Market Intelligence, where he focuses on providing insight into the liquidity and performance of equity and debt capital markets.
Chris Fenske is currently Head of Capital Markets Research for the Global Markets Group at S&P Global Market Intelligence, where he focuses on providing insight into the liquidity and performance of equity and debt capital markets. Prior to joining S&P Global, he was a senior vice president at NY based hedge fund, where he managed a $900 million portfolio of distressed securitized products. He began his career at Credit Suisse as a fixed income research analyst on the #1 ranked mortgage ABS research team by Institutional Investor Magazine and later became a trader of distressed MBS and credit default swaps on ABS.
S&P Global Market Intelligence
Mariam Kakar
S&P Global Market Intelligence
Primary Markets Group (Equity) - Commercial/Strategy
Mariam Kakar is the EMEA Head of Equities within Primary Markets Group, based in London. In this role, she is globally responsible for developing and executing the strategic vision for a comprehensive suite of solutions utilised by global investment banks for capital formation, as well as driving client development and business growth in the EMEA region. Mariam has a decade of experience in the primary markets, spanning across equities, fixed income, and research solutions. Earlier in her career, she managed high-net-worth clients in the brokerage business at Fidelity International.
Ari Davies
Head of Business Development, Issuer Solutions
S&P Global Market Intelligence
Matt Chessum
S&P Global Market Intelligence
Executive Director, Equity Analytic Products (EAP)
Matt Chessum is an executive director within the Equity Analytic products team at S&P Global Market Intelligence and is responsible for the EMEA and US Product Specialist teams, market commentary, thought leadership and media relations. Previously, Matt was an Investment Director at aberdeen asset management where his main responsibilities included overseeing the securities lending activity and the management of GBP denominated Money Market mandates.
Matt is a former member of the Bank of England's securities lending committee and a former board member of the International Securities Lending Association (ISLA).
S&P Global Market Intelligence
Jeff Levy, CFA
S&P Global Market Intelligence
Global Markets Group, Equities
Event Support