SAN DIEGO, Jan. 3, 2007 (PRIME NEWSWIRE) -- Sagient Research Systems, a leading publisher of independent research for the financial services and institutional investment communities, today announced that PlacementTracker is reporting a new single-year and fourth-quarter record for PIPE market issuances.
PlacementTracker, a flagship product of Sagient Research Systems, is well recognized as the leading provider of research, data, and analytics covering the PIPE market.
With transaction data as of December 29, 2006, PlacementTracker is reporting 2006 full-year PIPE market issuances of $27.83 billion. This represents a 39% increase over the 2005 total of $20.01 billion and a 14% increase over the previous one-year issuance record set in 2000 with $24.34 billion. The fourth quarter of 2006 also set a new fourth-quarter record with $6.98 billion in PIPE Market issuances. All totals exclude Structured Equity Lines and Canadian-domiciled issuers.
Commenting on the initial 2006 results, Brian M. Overstreet, president and CEO of Sagient Research said, "2006 has been a tremendous year for the PIPE market. We experienced explosive deal flow in the first half of the year, a slowdown in the third quarter, and then a record fourth quarter that pushed us to a new single year record."
He added, "Despite recent media speculation about a potential slow down in the PIPE market, the data and the record fourth-quarter results clearly show that the market continues along at an exceptionally strong pace. While registration concerns may hamper some of the very smallest issuers, the vast majority of potential PIPE issuers will find that the PIPE market continues to be the most efficient, timely, and cost effective manner for raising equity capital in 2007."
PlacementTracker will publish its annual PIPE Market League Tables and final 2006 issuance volumes in late January 2007.
PlacementTracker's dynamically updating League Tables are available online at: http://www.sagientresearch.com/pt/leaguetables.cfm.
About Sagient Research Systems
Sagient Research Systems is a publisher of independent research. We develop, produce, and sell proprietary research products to mutual funds, hedge funds, and investment banks. Our business strategy is to continue to leverage our development, technology, and marketing expertise to solidify our position as a leading provider of independent research to the financial services and institutional investment communities. For more information, please visit the Sagient Research Systems website at www.sagientresearch.com.