No IPOs in Africa in the first half of 2021, but global IPO Activity on Pace to Hit Historic Highs in 2021
There were no cross-border Initial Public Offerings (IPOs) on African exchanges in the first half of 2021 (H1 2021) according to new Baker McKenzie analysis, H1 IPO Snapshot: Unfolding Trends for 2021. However, the continued global demand for special purpose acquisition company (SPAC) IPOs reached African shores in the first half of 2021 - with a cross-border listing from a South African SPAC issuer - African Gold Acquisition Corporation - into the New York Stock Exchange. Globally, however, Baker McKenzie’s analysis shows that the continued global demand for SPAC deals, as well as current high liquidity and investor enthusiasm, caused capital raising to surge to new highs in the first half of 2021, with the bulk of companies preferring to list their IPOs locally. Globally, a total of 1,26...