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THE GERMAN Neuer Markt -- one of the fastest growing sectors for primary equity issuance in 1998 -- is set to host a huge number of small IPOs for hi-tech and companies from other growth sectors in the weeks to come. Deals to be launched imminently include the IPO of PrimaCom. Morgan Stanley Dean Witter is the sole bookrunner for the deal. The mandate is a coup for the US firm as the market is largely dominated by German banks, with some competition from Goldman Sachs.

Market commentary: Compiled by Jim Webber, TD Securities, London.Tel: +44 171 282 8216

INTERNATIONAL investors are diversifying away from Asia and Latin America and putting their money into central Europe in search of growth opportunities. This was the clear view being expressed this week by equity capital markets professionals looking at the response to the first deals of the year from the region and a potentially interesting calendar of new issues over the next few months.

THE CENTRAL and eastern European euro express looks set to accelerate further with the news this week that the Republic of Slovenia has become the latest sovereign from the region to ask banks to bid for the lead management role on an issue denominated in the single European currency. A3/A rated Slovenia, central and eastern Europe's top rated credit, is understood to have asked for proposals on a probable Eu400m 10 year transaction. This is expected to be the sole international bond offering from the highly regarded country -- a fast track candidate for EU membership early in the millennium.

KEY BANK this week brought an $865m securitisation of US student loans in three floating rate tranches, lead managed by Credit Suisse First Boston. KeyCorp Student Loan Trust 1999-A was warmly received by a market that has been kept hungry for ABS since the start of January.