HONG KONG: Stock sales in Asia Pacific plunged to a three-year low in 2011 and the downturn is expected to last well into 2012 as weak performance by most of the IPOs in the region makes it harder to attract investors to new deals.
Nearly 75 percent of initial public offerings in Asia ex-Japan, larger than $250 million, are trading below their offer price, and fee revenues for banks have plunged in the second half.
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