U.S. Markets closed

Global IPO proceeds tumble

Proceeds from initial public offerings this year fell 29.7% from 2011 to $97 bil, the lowest since 2008, market tracker Renaissance Capital said. The decline was due largely to China's weak stock market and Europe's debt crisis in Europe, it said. Asia-Pacific's share of IPO proceeds fell to 41.6% from 50.3% in 2011, Europe's fell to 10.2% from 20.2%. North America's share, rose to 41% from 25%, boosted by such offerings as Facebook (FB).