NYSE Euronext won the war forinitial public offerings in 2007, having listed $78 billion in IPOs in the United States and Europe, the most of any exchange group, reports Canadiannewspaper Globe and Mail, citing Bloomberg data.
The number itself comprises share sales of closed-end funds, and compares to the $52.2 billion in IPOs listed onthe markets of the London Stock Exchange.
Competition between the U.S. andLondon exchanges has been stiff since Sarbanes-Oxley was enacted, and manyblame the corporate reporting law’s rigorous requirements for driving foreigncompany listings to London and other foreign exchanges. But the merger withEuronext was just what the NYSE needed, it seems — along with relaxed delistingrequirements for foreign companies listed in the U.S.
Christiaan Brakman, a NYSEspokesperson quoted in Globe and Mail,said: “NYSE Euronext has had a strong year for new listings and IPOs in 2007.With 33 IPOs by non-U.S. companies raising almost $14 billion on the NYSE,we’re back to levels not seen since Sarbanes-Oxley was introduced in 2002.”
Of the 42 foreign listings on theNYSE, 20 came from Chinese companies.