IPO pipeline a long way from capacity

IPO pipeline a long way from capacity. The AFR reports this morning that the investment banking fraternity and institutional investors believe the current IPO window is still relatively early in the cycle. Macquarie's head of ECM origination Mark Warburton says, If you look at the last strong IPO market which ran from 2003-04 for three or four years.?.?. we are 18 months into this now, so I think indications are that we have another year or two to run...We do have some visibility on the pipeline going out probably up to two years away. Fund managers also remain positive on the quality of floats coming to market. Ben Griffiths from Eley Griffiths Group says, Book-builds have generally been well supported and the level interest shown recently for Healthscope and Regis IPO's and Veda and Ramsay Health Care selldowns is testimony to this...The pipeline at present is a long way from capacity and is quite manageable. Quality remains good which indicates it is still early days in the cycle. Full report in the Financial Review (pay wall): (VIEW LINK)