Global rights issue volume has hit levels last seen in 2007, as firms shore up balance sheets and look for acquisitions.

Rights issue volume over the first two months of the year stands at $13.7bn via 73 deals, up 53% from the $9bn raised at the same stage of 2011, according to data from Dealogic. The previous high was 2007, when volume reached $16bn via 83 deals.