Morgan Stanley Australia CEO Says IPOs, Deals Are Returning

Morgan Stanley’s Australia chief said he’s seeing a return of initial public offerings and merger activity after a “horrible” first half as the country’s stability draws overseas capital.

“Certainly the first six months of this year have been difficult on deal flow, but I think we are about to see that change,” Richard Wagner said in a Bloomberg TV interview in Sydney. “We will see the IPO market open” and the M&A pipeline is “very strong” in Australia, which augurs well for the next six months, he said.