Emerging Markets outperforming U.S. stock market
New York (DealBook) – Earlier this week, Allianz, the German insurer, announced that it would be de-listing from the New York Stock Exchange (NYSE). For good measure, it also said that it would delist from the London, Milan, Paris and Swiss stock exchanges in order to concentrate its trading liquidity on the Deutsche Borse.
In the same week, Shanda Games Ltd., one of China’s leading online games companies, priced its initial public offering on the Nasdaq, raising more than $1 billion.
The two events point to the future direction of the global stock listings market.
Capital markets have matured in Europe, and foreign issuers in those countries no longer feel a compelling need to list on the United States stock exchanges. Meanwhile, the emerging stock markets, and Hong Kong and Shanghai markets in particular, are still developing, and issuers located there are looking abroad to list, raise capital and elevate their profile and share price. Read more here.