Investor appetite for niche names could be new ECM litmus test amid pandemic

Asian primary equity markets closed the first quarter of 2020 having completed more than $18 billion in IPO deals, according to Bloomberg data. While almost double the amount during the same three-month period a year earlier, the momentum was lost in March when secondary markets fell into a tailspin. To place into context, during the final quarter of 2019 Asia raised $51 billion.