Q4 floats may beat Jan-Sept mop-up

Estimates $bl Mkt.Share Offerings China25.1848.2151 India8.3516.0026 Hong Kong3.957.5614 Malaysia3.095.9219 South Korea2.895.5417 Australia2.364.5222 Thailand1.462.797 Singapore1.242.377 Indonesia1.092.089 Japan0.881.6915 Vietnam0.791.5114 Taiwan0.691.326 Philippines0.250.495 Industry Total52.22100.00211  Between January and September 2007, 70 primary issues mobilised over Rs 27,400 crore.  The report sees the fourth quarter mop-up rising by 22 per cent over the funds collected in the previous three quarters.  Twenty-six Indian companies have lined up public offers worth Rs 33,400 crore, according to the report.  The two big-ticket offers in the current quarter (October-December) will be the Rs 12,000 crore issue of Reliance Power and the Rs 6,000 crore offer of Emmar MGF.  The Indian companies apart, euphoria in the primary market has spread across the Asia-Pacific region.  China and India are expected to lead the Asian IPO market.  Thomson Financial estimates IPOs in Japan to collect $52.2 billion from 212 issues in the fourth quarter.  This figure is slightly lower than the proceeds raised in the first three quarters, which totalled to $57.6 billion from 364 issues.  Chinese issuers are expected to launch 51 public issues shoring up a total of $25.2 billion.  The estimated proceeds for China and India in the fourth quarter are likely to be the largest, toppling the second quarter figures $13.9 billion and$2.9 billion respectively.  A total of $15.3 billion of the IPO proceeds are likely to flow from the industrial sector, while the financial sector is expected to contribute $10.5 billion to the IPO market.  Reliance Power