* $20 billion in equity deals struck globally since

Friday amid Middle East conflict

* Some firms rush to raise capital before market

conditions worsen

* Market volatility may slow future transactional

activity, advisers say

By Charlie Conchie

LONDON, March 4 (Reuters) - Companies and investors,

including from the Gulf, kicked off large share sales raising

tens of billions of dollars in recent days as tensions in the

Middle East erupted into conflict, according to advisers and new

figures.

Around $20 billion worth of equity deals were struck

globally in the three days of trading from Friday to Tuesday,

according to LSEG data, making up nearly 16% of the roughly $130

billion of deals launched so far this year. The pace of

dealmaking over that period was nearly triple compared to the

average daily amount over the prior two months.

Last week was the busiest so far this year for global equity

capital markets activity, with over $25 billion worth of

transactions, according to the data. Dealmaking proceeds are up

60% so far this year compared to the same period of 2025.

Some firms and their shareholders have tapped equity

investors before markets potentially sour further and hamper the

ability to raise capital, three equity advisers told Reuters.

A group of shareholders in U.S.-listed medical firm Medline

including the Abu Dhabi Investment Authority (ADIA), Blackstone

and Carlyle was among those looking to offload shares in the

market. The deal could be worth around $3.4 billion and will add

to the tally struck since Friday when it prices. Some other

companies were in the market raising funds for planned

takeovers. ADIA declined to comment. Medline and the other

investors did not respond to requests for comment on the timing

of the sale.

JUST GET ON WITH THINGS

Markets have been roiled by the U.S. and Israel's attacks on

Iran and Tehran's strikes across the region.

"If you're confronted with an option where you've got very

strong visibility over an outcome and it's available, in an

environment where volatility is picking up, it's probably the

right thing to take what's in front of you," said Tom Johnson,

global head of capital markets at Barclays ( BCS ), who worked on a $2.5

billion raise for Britain's Rosebank Industries on Tuesday.

"If you think the market is strong enough to do these deals,

there's a sense you should just get on with things," he added,

referring to the wider uptick in sales since Friday.

Rosebank's raise was not accelerated by conflict in the

Middle East and moved according to predetermined timelines,

Johnson said. A Rosebank spokesperson said the fundraise was

announced at least a fortnight before the conflict began and the

company was keen to move the process to deal completion quickly.

France's Engie raised 3 billion euros ($3.49 billion)

on Friday to help finance its takeover of UK Power Networks. The

decision to launch the deal on Friday was in part to get ahead

of any potential disruption, as well as a strong market

reception and numerous inquiries from investors, Alexis Le

Touze, head of equity capital markets for France at BNP Paribas,

told Reuters.

"If things in the market are getting worse and worse, you

may not be in a position to finance your project or finance your

acquisition," he added, referring to the wider flurry of

dealmaking since Friday.

An Engie spokesperson said a positive response from

investors and favourable market conditions were the primary

reasons it pressed ahead with the capital raise.

"If we have market volatility like this for a number of

weeks, then it's very possible that transactional activity will

slow down, but at the end of the day, we have a lot of clients

that still need to do deals," said Tom Swerling, global head of

equity capital markets at Deutsche Bank.

($1 = 0.8595 euros)

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