Despite the volatility of markets since the global financial crisis, companies have more choices than ever when deciding where to go to raise capital. One of the big trends in capital markets over the past decade has been the increasing willingness of companies to list outside their home country. This affords them an opportunity to expand into other markets, bolster their international reputation, tap new investors and take advantage of higher valuations and liquidity.
According to data published by Ernst & Young, cross-border deals accounted for 72% of the total funds raised on the top four exchanges – Hong Kong, London, New York Stock Exchange and National Association of Securities Dealers Automated Quotations (NASDAQ) – in 2009.
