This activity was particularly driven by the financial services sector, where capital hikes including those for Santander, Credit Suisse and Standard Chartered in Europe, but also Haitong Securities and Huatai Securities in Asia, were among the top 10 deals for the year.
Block sales are becoming an increasing part of banks' busainess in the equities markets. In Europe block transactions made up 60 percent of total follow-on deals, with $98.847 billion in proceeds.
Consequently, banks are having to devote more resources to originating and executing this kind of work.
"Mandates for accelerated placements will continue to be carnivorously competitive, as an active role is critical for building a strong ECM franchise," said Craig Coben, co-head of global ECM at Bank of America/Merrill Lynch.
While ECM activity was almost in line with last year, fees were 13 percent down, totaling $20.2 billion, as follow-on deals don't pay as well as IPOs.
"You had the fee pool down massively this year, part driven by a lower IPO market. We should see issuance and fees increase next year," said Kendall.
The ECM regions that lost out in 2015, notably the United States and China, could take leading positions next year, as several prospective issuers that postponed their offers finally come to market.
"There is a tremendous backlog of IPOs so we expect a big year in the U.S. market," said Hermer. "The Americas is the biggest region of pent-up supply."
The Chinese government's decision to implement a U.S.-style registration system for IPOs has led KPMG China to expect a boom year in 2016.