July 24 (Bloomberg) -- The world’s two biggest initial public offerings this year are from China and Brazil, reflecting the “growing power” of the so-called BRIC nations, said Barton Biggs<http://search.bloomberg.com/search?q=Barton%0ABiggs&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>, who runs New York-based hedge fund Traxis Partners LP.
China State Construction Engineering Corp.<http://www.bloomberg.com/apps/quote?ticker=601668%3ACH>, the nation’s largest housing contractor, yesterday raised 16 billion yuan ($7.3 billion) in Shanghai in the largest IPO in 16 months. Cia. Brasileira de Meios de Pagamentos<http://www.bloomberg.com/apps/quote?ticker=VNET3%3ABS>, the Brazilian affiliate of Visa Inc., took in 8.4 billion reais ($4.3 billion) in its Sao Paulo offering in June. “No question, it shows the growing power of the BRICs,” Barton Biggs<http://search.bloomberg.com/search?q=Barton+Biggs&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>, the former chief global strategist for Morgan Stanley, said in a telephone interview from New York. “Clearly the BRICs are the big growth areas of the world and will need a lot of foreign capital.” Companies in the BRIC nations, which also include India and Russia, are tapping into growing investor appetite for riskier assets as the global economy rebounds from the worst recession since World War II. China and Brazil are the world’s two best performers among the 20 biggest stock markets, according to data compiled by Bloomberg. The Shanghai Composite Index<http://www.bloomberg.com/apps/quote?ticker=SHCOMP%3AIND>has soared 85 percent in dollar terms this year while the Bovespa Index <http://www.bloomberg.com/apps/quote?ticker=IBOV%3AIND> rose 76 percent. The China and Brazil IPOs highlight “the fact that demand for emerging-market assets remain strong and that companies, particularly in the BRIC markets, are using the improvements in capital markets to raise capital,” said Vinicius Silva<http://search.bloomberg.com/search?q=Vinicius+Silva&site=wnews&client=wnews&proxystylesheet=wnews&output=xml_no_dtd&ie=UTF-8&oe=UTF-8&filter=p&getfields=wnnis&sort=date:D:S:d1>, New York-based emerging markets strategist for *Morgan Stanley.* http://www.bloomberg.com/apps/news?pid=20601087&sid=aNd8qXFmcR0Y -- *Swami Vivekananda's life through pictures.* http://www.youtube.com/watch?v=JntwFFlzecA --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en -~----------~----~----~----~------~----~------~--~---
