Emerging markets get upper hand in IPOs

China, India, Brazil may produce biggest increases in offerings

NEW YORK: Emerging markets are attracting more money from initial public offerings (IPOs) than industrialized nations for the first time ever, a warning sign to Mark Mobius that the record rally in the shares may turn into a 20 percent decline.

Faster economic growth may help China, India and Brazil produce the biggest increases in IPOs and almost double sales to $200 billion worldwide, according to Matthew Johnson, the New York-based head of the global-equities syndicate at Barclays Plc.