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DOLLAR AMOUNT OF UNDERWRITINGS COULD TOP 1991 RECORDS, BUT MODERATION EXPECTED IN COMING MONTHS, SIA ECONOMISTS SAY

 DOLLAR AMOUNT OF UNDERWRITINGS COULD TOP 1991 RECORDS,
 BUT MODERATION EXPECTED IN COMING MONTHS, SIA ECONOMISTS SAY
 /ADVANCE/NEW YORK, June 3 /PRNewswire/ -- The dollar amount of equity and debt issues being brought to the market could approach or exceed the 1991 records given the pace through April, but some moderation is expected in coming months, Securities Industry Association economists said in the current Investor Activity Report (IAR).
 In the January-April period, total debt underwritings rose 56 percent to $237.5 billion and $151.9 billion in the like period a year earlier, while equity offerings advanced 139 percent to $37.3 billion from $15.6 billion in the year earlier, Jeffrey M. Schaefer, senior vice president, research and Grace Toto, research associate, said.
 Initial public offerings (IPO) of equities alone show an even more extreme increase, they noted. In the first third of 1992, IPOs rose 252 percent to $14.3 billion from $4 billion in the like year-earlier third.
 "We don't expect to see these types of increases for all of 1992," they said, noting, debt offerings so far this year peaked in January, while equity offerings topped in February.
 In 1991, equity offerings reached a record $76 billion, including $25 billion in IPOs, while debt offerings reached a peak $507 billion. More equity and debt were issued in the second half than the first half, Schaefer and Toto noted.
 -0- 6/3/92/1830
 /CONTACT: Art Samasky or Karen San Antonio of SIA, 212-608-1500/ CO: Securities Industry Association ST: New York IN: FIN SU: ECO


SM-PS -- NY037 -- 6308 06/03/92 12:08 EDT
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Date:Jun 3, 1992
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