jamesteohart / depositphotos
Publicly traded IT companies in the U.S., Canada and Bermuda raised $20.15 billion through capital offerings in February, according to S&P Global Market Intelligence data and analysis.
This is the sector 's strongest showing so far in terms of capital markets activity since raising $13.77 billion in November 2022. Last month's total is also more than double the $9.5 billion raised in January.
Get The Full Henry Singleton Series in PDF
Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues
q4 2022 hedge fund letters, conferences and more Gates Capital Management Reduces Risk After Rare Down Year [Exclusive]
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for read more
Surge In Infotech Capital Markets Activity
Key highlights from the report include:
Debt offerings comprised the largest share of February's infotech capital activity at $19.96 billion . Common equity offerings raised $142.0 million, while preferred security offerings brought in $50.5 million. Semiconductor companies topped other infotech subsectors in raising the most capital as of February-end with $12.02 billion. IT consulting and other services companies ranked second with $7.54 billion, followed by systems software companies with $5.26 billion. Intel Corp. and Oracle Corp. dominated the IT sector's capital activity last month . Broadcom Inc.'s debt offering in end-March 2022 and Oracle's senior notes offering in November 2022, both amounting to $2.5 billion, tied for the biggest infotech offering in the past 13 months.
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.