The beginning of the year is always a busy time for equity bankers. But this year they have been working at full speed, with the value of accelerated offerings hitting $38.1 billion – the fastest start to the year on record.

The appetite for large overnight deals is at an all-time high, with 150 companies active in the market so far this year, according to data provider Dealogic. That's a 48% rise in the value of accelerated offerings compared with a year ago.