Giant listings by Saudi Aramco and Alibaba rescued a sluggish year for equity capital markets (ECM) after a string of shelved initial public offerings (IPOs) and share price slumps. Proceeds from global equity capital markets (ECM) fell 4.7 percent to $659 billion in 2019, according to Refinitiv data. This figure was propped up by state-owned oil giant Aramco’s record-breaking $25.6 billion IPO and Chinese e-commerce giant Alibaba’s $13.5 billion secondary ...