There were certainly fireworks in the offices of some capital markets lawyers last week as corporates and governments plunged back into the fragile European equity markets with a gusto not seen since 2000.
With full listing work still firmly in the doldrums, the City’s expensively assembled equity capital markets teams are benefiting from the increased trend towards ‘accelerated book-building’ and auction placements – capital raising techniques being adopted by issuers to minimise market impact while investor confidence remains weak.
