Nigerian Capital Market Update
Global Markets (1/2)
Globally, IPOs and mergers and acquisitions fell in the first half; sales of green bonds outpaced those of fossil fuel bonds; and
mainland China reopens (1/2)
Global IPOs decline by 50%
In H1 2023, global IPOs raised a total of $63 billion. This represents a 50%
decrease in the $96 billion in proceeds from global IPOs in H1 2022. The Asia
Pacific area made up the majority of the funds raised via IPOs in H1 2023, but it
also saw a 30% decrease in proceeds of issue compared to H1 2022.
$300 billion raised in Green bond issuances in H1 2023
According to Bloomberg, a total of $347.6 billion was raised through the sale of
green bonds in H1'23, representing a 15.8% rise over the $300.1 billion in value
of green bonds issuances in 2022. This is the first time that more money was
raised overall from the sale of green bonds than from fossil fuel bonds.
100
80
60
Value of IPOS ($'billions)
37
40
20
20
400
347.6
300
36.6
200
56.1
100
26
0
H1'2023
H1 2022
Q1 Q2
Source Global IPO Watch, 2022 and 2023, PwC UK
The Nigerian Capital Market Update
PwC
0
Source: Bloomberg
316.5
300.1
233.2
H1'23
FY'23
■Green bonds ■ Fossil fuel bonds
August 2023
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