After record year, Australia IPO market seen slowing in 2015

Sydney

AUSTRALIA is set for a slowdown in initial public offerings in 2015 after a record this year as lacklustre performances by recent listings and jittery stock markets caused by a slump in commodities prices cool investor enthusiasm.

Investment banks in Australia will, as a result, see their equity markets fees drop from the estimated US$370 million they earned this year from the IPO surge that also helped foreign banks encroach upon leader Macquarie Group's turf.

IPOs in Australia have raised US$14.67 billion so far in 2014, more than double last year's US$6.2 billion and eclipsing the previous US$11 billion record 17 years earlier…