The UK PPP secondary market is the largest globally, however, equity transactions have grown in other developed countries that have adopted the same PPP model. The Global PPP equity database is more limited in its scope and detail than its UK companion and is still under development. For example, it has limited information on profits, the date of financial close and the annual rate of return. The same qualifications and constraints described for the UK PPP equity database apply.
The global sale of PPP equity database currently contains 146 equity transactions between 1998-2012 involving 297 PPPs - see Table 22 and Appendix 5. The number of transactions increased significantly since 2009, the number of PPPs had a more gradual increase between 2004-2012. This may reflect improved access to information or increased disclosure rather than changes in the rate of equity transactions.
Table 22: Annual rate and value of Global PPP equity transactions (1998-2012*)
Year | No. of equity trans-actions | No. of PPP projects (includes those where equity sold more once) |
2012* | 30 | 64 |
2011 | 20 | 41 |
2010 | 30 | 54 |
2009 | 9 | 29 |
2008 | 10 | 47 |
2007 | 16 | 19 |
2006 | 8 | 15 |
2005 | 5 | 8 |
2004 | 9 | 10 |
2003 | 5 | 5 |
2002 | 2 | 2 |
2000 | 1 | 1 |
1998 | 1 | 2 |
Total | 146 | 297 |
Source: Appendix 5, Global PPP equity transactions 2002-2012 * 11 months.
The total value of PPP equity sales is approximately US$113 billion - see Table 23. Europe (excluding the UK), Australia and Latin America accounted for 80% of PPP equity transactions, followed by Asia and Canada.
Table 23: Summary of Global PPP equity sales (1998-2012*)
Region or Country | No of transactions | No of PPP | Value of equity sales (m) | Estimated total value based on average (m) |
7 | 10 | €538.0 (2) | €1,883.0 | |
43 | 108 | €19,511.7 (26) | €32,269.3 | |
13 | 16 | C$5,164.1 (8) | C$8,391.7 | |
7 | 14 | US$2,248.8 (3) | US$5,247.2 | |
30 | 73 | US$7,948.7 (19) | US$12,550.6 | |
36 | 45 | A$12,213.9 (15) | A$29,313.4 | |
1 | 1 | C$77.8 (1) | C$77.8 | |
2 | 2 | US$15.8 (1) | US31.6 | |
7 | 28 | US$8,134.0 (5) | US$11,387.0 | |
Total | 146 | 297 |
| Estimate US$113bn |
Source: Appendix 5, Global PPP equity transactions 2002-2012 * 11 months.