Capital raising in the BRICs

Overview

The record-breaking US$67 billion Petrobras stock issue last week was the largest global capital raising ever. It not only highlighted the strides Brazil has made in developing its domestic capital markets, it also served as a shot across the bow to more established markets in New York and London.

This week’s Chartbook addresses the question of how much progress the BRICs have achieved in developing their domestic capital markets. We focus on the recent track record of both...