PwC's survey Capital Markets in 2025 provides input and analysis from 400 senior company executives around the world for their input on factors that are influencing the development of equity capital markets.
Will emerging market exchanges have the sophistication and infrastructure to challenge the IPO services offered by incumbent exchanges in the West? Where will the companies looking to list come from? What are the drivers behind the change in capital market dynamics?
These are some of the questions we address in this special report on the future of capital markets by 2025. In August 2011, we surveyed senior managers from companies across the globe to understand their views on the factors that are shaping the development of equity capital markets. Their answers were bracing.
"Our strategy to focus on foreign listings is partly out of necessity because we don’t have a large domestic pool of companies. It also mirrors the strategy of Singapore as a financial centre, which is to view Singapore as a hub or a gateway for buyers and sellers of equity.”
—Gan Seow Ann, President of Singapore Stock Exchange
Capital markets in 2025: The future of equity capital markets
Head of IPO Centre
Tel.: +44 (0) 20 7804 4703
For now, developed market stock exchanges still far outstrip their emerging market counterparts in providing what companies expect from their listing venue. Nonetheless, our survey respondents paint a very clear picture of the challenges facing incumbent markets in the coming two decades.