:-In general,  the initial sparkle in the global IPO market faded mid-year amid growing investor concerns over sovereign debt issues in Europe and Standard & Poor's downgrade of the US's credit rating. Year-to-date, capital raised globally slumped 45 per cent to US$155.8 billion, and the number of deals was also down by 20 per cent at 1,117, according to Ernst & Young's Global IPO update. Some 72 per cent of all capital raised globally this year was raised in the first six months. 'The uncertainty around a resolution to the eurozone debt crisis and its impact on the global economy has left investors and issuers with a lack of confidence,' said Maria Pinelli, E&Y's global vice-chair for strategic growth markets. But fund-raising activities this year have exceeded 2009's lacklustre figure by more than US$40 billion. The E&Y report predicts that the value of IPOs by year-end will hit US$170 billion. (BT)