Google Answers Logo
View Question
Q: investment banking ( Answered 5 out of 5 stars,   0 Comments )
Subject: investment banking
Category: Business and Money > Finance
Asked by: jim_nlc-ga
List Price: $50.00
Posted: 06 Jan 2003 14:59 PST
Expires: 05 Feb 2003 14:59 PST
Question ID: 138460
Who are the best investment bankers to help a mid-sized, publicly
traded telecom equipment firm raise $30 million in capital?  Would
like to see a listing or ranking of investment bankers, who have
expertise in that space including Raymond James, etc.
Subject: Re: investment banking
Answered By: ragingacademic-ga on 06 Jan 2003 17:33 PST
Rated:5 out of 5 stars
Dear jim_nlc,

Thanks for your question.  First, let me request that if any of the
following is unclear or if you require any further research – please
don’t hesitate to ask me for a clarification.

You asked who are the best investment bankers to help a mid-sized,
traded telecom equipment firm raise $30 million in capital.  You also
mentioned Raymond James.

This is an interesting question.  Three or four years ago, few would
have thought of Raymond James, but given the recent changes on the
Street, it is exactly the mid-size regional firms like James that are
moving into the limelight.

You requested a ranking of investment banks.  Red Herring used to rank
the top investment banking firms every year; the last such ranking I
could find online was for the year 2000 –

Red Herring Top 25 Investment Banks of 2000

The list was compiled based on total led offerings; Raymond James
isn’t even there.  Red Herring did not publish a list for 2001 (and
it’s too early for a 2002 list).

However, in 2001/2002 – and in a far different IPO environment – a
different picture emerged.  According to “The Underdog’s IPO Chance,”
an article which appeared in the December 2002 issue of Traders
Magazine, during November of 2002 Raymond James and the Advest Group
(two medium regionals) managed 50% of scheduled IPOs (that’s 2 of 4,
mind you…).

Through late November 2002, $23.8 billion were raised in 79 IPOs,
compared to $63.2 billion in 518 IPOs during 1999.  From April to
November, small and medium regionals have led 15 of 62 IPOs.

The major pointers from this article –
+ Wall Street is cutting back, especially on research, trading and
investment banking support for small and mid-sized companies ($200m to
$5b market cap)
+ The big boys are refraining from making a market in such stocks
+ As a result, in recent months, small to mid-sized companies seeking
to raise up to $100 million are turning to smaller investment banks,
and the banks are quickly gaining reputation, expertise and experience

According to the article, the lead medium regionals during 2002 have
been –
+ Raymond James

+ Advest Group

I have not been able to find a recent analysis of investment banks
doing secondaries.  However, according to, there were 262
secondary offerings during 2002 –

And it looks like you could get the whole list with details for $233;
you could then quickly sort by leads and offering size to come up with
the top bank in your category.  If you want to purchase the list and
put it up online, I could do the analysis for you, but it’s really
quite simple.

My recommendations, therefore, would be to either check out Raymond
James and Advest, and/or to do the above analysis and see if any other
firms pop up that would be of interest to you.

I hope this response adequately addresses your request.  Please let me
know if you are in need of additional information concerning this



The Underdog’s IPO Chance
Trader’s Magazine
December 1, 2002
By Barbara Etzel

Search Strategy:

"top underwriters"
"top secondary underwriters"
"secondary offerings"
"secondary offering statistics"
"advest group" "raymond james" secondary
"top investment banks" "raymond james"
secondary-offering telecommunications "investment banks "
"best investment banks" "secondary offering"

(as you can see, I embarked on quite a few searches; also searched
Lexis/Nexis, RDS, and ABI Inform, but did not find much of quality)

Clarification of Answer by ragingacademic-ga on 11 Jan 2003 20:09 PST
jim_nlc -

Glad I could be of service.
Thanks for the great rating!

jim_nlc-ga rated this answer:5 out of 5 stars
Thanks very much.

There are no comments at this time.

Important Disclaimer: Answers and comments provided on Google Answers are general information, and are not intended to substitute for informed professional medical, psychiatric, psychological, tax, legal, investment, accounting, or other professional advice. Google does not endorse, and expressly disclaims liability for any product, manufacturer, distributor, service or service provider mentioned or any opinion expressed in answers or comments. Please read carefully the Google Answers Terms of Service.

If you feel that you have found inappropriate content, please let us know by emailing us at with the question ID listed above. Thank you.
Search Google Answers for
Google Answers  

Google Home - Answers FAQ - Terms of Service - Privacy Policy