Companies looking to raise cash are offloading stakes in subsidiaries via floatations at unprecedented levels, according to data from Dealogic which shows the total value of carve-out IPO globally is at its highest since records began.

According to Dealogic, the total value of carve-outs globally stands at $21.5bn (€14.4bn) for the year to date. This is close to three times the 2008 year to date volume, and the highest year to date volume on record.