A global trade association that regulates stocks, futures, and exchanges has revealed that global equities appreciated by $13 trillion.
Global equity market capitalisation increased by 13% or over $13tn in 2023, according to a report from the World Federation of Exchanges.
World Federation of Exchanges was formerly known as the Federation Internationale des Bourses de Valeurs or International Federation of Stock Exchanges.
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The report, the 2023 Market Highlights, was recently released by the global exchange body.
It indicated that despite the growth of global market capitalisation, trading value and volumes declined 10.6% and 3.4%, respectively, in 2023, with all regions recording their lowest annual trading value in the last three years.
The Nigerian equity market defied the global trend as its market capitalisation appreciated by 46.6% or ₦13 trillion last year.
According to the WFE, the average trade size was at its lowest level in the last three years (at $2,776.45/trade).
Also, he said that “the non-IPO listings in the Americas and EMEA region were at their minimum level in the last three years, while APAC region recorded its maximum.
The capital raised through already listed companies registered its minimum level in each region.
The number of IPOs in every region was at its lowest in the last three years, with markets welcoming only 1,217 IPOs in 2023.
“The capital raised through IPOs fell sharply compared to 2022 (-59.3%).
“While the APAC and EMEA regions declined by -43.3% and -86.1%, respectively, the Americas experienced a significant increase (71.3%).
“The average size of an IPO followed the same trend. While in the APAC and EMEA regions, it recorded its lowest level in the last three years.
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“This amounted to $86.11m/IPO and $88.11m/IPO, respectively, in the Americas it almost doubled, reaching $126.41m/IPO.
“Despite this decline, global markets hosted five unicorns in the second half of the year (in addition to the three unicorns listed in the first half of the year).”
