Table of Contents
Executive Summary …………………………………………………………………………. 1
1. Introduction …………………………………..…………………………………………... 4
2. Russia ………………………………………………………………………………………. 6
2.1 Overview of international capital raising trends so far ……………….………. 6
2.2 Outlook for capital raising ..………...……………………………………………… 7
2.3 Opportunities for the City of London.……………………………………………. 12
3. Brazil ..………………………………………………………………………………………. 14
3.1 Overview of international capital raising trends so far ……………….………. 14
3.2 Outlook for capital raising ..………...……………………………………………… 17
3.3 Opportunities for the City of London ……………………………………………. 19
4. Mexico ..……………………………………………………………………………………. 21
4.1 Overview of international capital raising trends so far ……………….………. 21
4.2 Outlook for capital raising ..………...……………………………………………… 23
4.3 Opportunities for the City of London ……………………………………………. 26
5. South Africa …………………………………………………………………………….…. 28
5.1 Overview of international capital raising trends so far ……………….………. 28
5.2 Opportunities for the City of London.……………………………………………. 32
6. India …...……………………………………………………………………………………. 34
6.1 Overview of international capital raising trends so far ……………….………. 34
6.2 Outlook for capital raising ..………...……………………………………………… 37
6.3 Opportunities for the City of London ……………………………………………. 42
7. Conclusion …………………………………..…………………………………………...... 44
7.1 Continued rapid growth in demand for capital ………………………………. 44
7.2 India, Brazil and South Africa …………………………..………………………….. 44
7.3 Russia and Mexico ………….……………………………………………………….. 45
7.4 Which international capital markets will attract EM firms? ……………………. 45
7.5 Opportunities for the City of London …………………………………………….. 48
7.6 Challenges for the City of London ……………………………………………….. 50
8. List of abbreviations ……………………………………………………………………… 52