Until recently, companies were hellbent on shrinking their share counts via stock buybacks, or they’ve delisted entirely following a debt-funded takeover or buyout. As bosses and institutional investors return from the beach, more companies will probably tap equity investors for cash. A second virus wave, a disputed US presidential election or Brexit could all create equity-market volatility later this year. Across Europe, companies face a 720 billion-euro bill to replenish lost equity capital. That figure includes small and medium-sized companies, which are less able to tap equity markets.

Source: The Star August 14, 2020 00:45 UTC