Cap Gemini, the French information technology consultancy, increased the size of its convertible bond from €350m ($403m) to €400m highlighting the demand for new equity-linked issues.

Convertibles accounted for 51% of total equity capital markets issuance in Europe, Middle East and Africa, in the first half of this year, according to preliminary data from Dealogic, the investment banking research firm. In the first half of 2002, convertibles made up 27% of the ECM market, excluding rights issues.