Australian equity capital markets have experienced a lift in the first quarter of 2013, marking a significant boost from the previous year result.
They reached US$5.9 billion in the first quarter of 2013, a 14.7 per cent increase from the first quarter of 2012, according to data from Thomson Reuters.
"Australia's equity capital markets activity reached US$5.9 billion so far this year . driven by convertible offerings from National Australian Bank (US$1.6 billion) and Westpac Banking Corp (US$1.4 billion)," Thomson Reuters said.
"With a backlog of listings in the pipeline, market activity could potentially pick up the rest of the year."
The data found that convertible securities accounted for the majority of the equity capital markets, increasing by 72.5 per cent from the first quarter of 2012 to reach US$3 billion.
It also captured 50.9 per cent of market activity, the highest quarterly level for convertibles since the fourth quarter of 2009, where it reached US$3.6 billion.
However, total proceeds for follow-on offerings dropped by 13.6 per cent to reach $2.9 billion, despite accounting for 48.3 per cent of the market activity.
Total proceeds from initial public offerings (IPO) issued by Australian companies reached US$46.5 million, a 54.3 per cent decline from the first quarter of 2012.
UBS leads the ranking for domestic equity capital market underwriting, accounting for 36.5 per cent of the market share with US$2.2 billion in related proceeds; a 116.8 per cent increase from the first quarter of 2012.
Deutsche Bank moved up to second place from its seventh position during the first quarter of 2012 with 8.6 per cent market share and US$505.9 million in related proceeds.
