No one expected the smoking hot rate of equity issuance at the end of 2010 to last. And now that the first quarter is over, there shouldn't be any surprises that it didn't.
New issues totalled $9.8-billion last quarter, down from $13.6-billion in the fourth quarter. Still, it's a very respectable number, considering that only $6.3-billion was recorded in the third quarter of 2010.
(Note: these figures don't include preferred shares. Adding those in, new issuance over the last three months totalled $11.5-billion.)
The first quarter's biggest equity deals included Brookfield Asset Management's $580-million common share issue and $480-million secondary offering of Canexus Income Fund trust units.
But which dealers came out on top in the league tables? Check back on Monday for the answer.