Capital Markets in 2025: The Future of Equity Capital Markets

Global growth is shifting East. As the capital markets and stock exchanges in developing economies become more sophisticated, companies from the West will be increasingly looking to the Asian markets in order to tap into their growing wealth and the associated profile a local listing may provide. Shanghai has emerged as potentially the most attractive venue for foreign listings in 2025. Equally, the more traditional capital demand drivers—including private equity exits, deleveraging and spin offs by diversified multinationals—will continue generating cross-border capital market opportunities.