Der Markt für Neu­emis­sio­nen in Deutsch­land 2023 – Deutsch­land kommt nicht vor­an

CORPORATE FINANCE Nr. 01–02 26.01.2024 von Dr. Kon­rad Bösl, Kon­stan­tin Dudeck und Juli­us Hof­mann

Die poli­ti­schen und wirt­schaft­li­chen Rah­men­be­din­gun­gen für Neu­emis­sio­nen waren 2023 sehr schlecht. Das hat in der Neu­emis­si­ons­bi­lanz welt­weit sei­ne Spu­ren hin­ter­las­sen. Es gab so weni­ge Neu­emis­sio­nen wie seit 2016 nicht­mehr. Der schlech­ten Ent­wick­lung hat sich der deut­sche Neu­emis­si­ons­markt naht­los ange­schlos­sen. Drei Neu­emis­sio­nen brach­ten es auf ein Plat­zie­rungs­vo­lu­men von gut 1,9 Mrd. € und trotz ful­mi­nan­ter Jah­res­end­ral­lye war die Kurs­ent­wick­lung bei zwei Neu­emis­sio­nen nega­tiv und schlech­ter als die Gesamt­markt­ent­wick­lung. Die Hoff­nung auf sin­ken­de Zin­sen treibt die Erwar­tun­gen auf mehr Neu­emis­sio­nen und den­noch wird Deutsch­land sei­ne Poten­zia­le nicht aus­schöp­fen kön­nen, da es dem Bör­sen­stand­ort Deutsch­land an Tie­fe und Liqui­di­tät fehlt.

Wei­ter­le­sen auf https://cf-fachportal.de

zurück zur Beitragsübersicht
© 2024 Blättchen & Partner GmbH
Suche

Kontaktieren Sie uns gerne:

Wir nutzen reCAPTCHA v3 von Google, um Spam über unsere Formulare zu reduzieren. Bitte klicken Sie auf den Button "Formular laden", um reCAPTCHA v3 zuzulassen. Bitte beachten Sie die Datenschutzbedingungen von Google.

Formular laden

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