The first half of the year is off to the best start since 2000 for U.S. IPOs, according to Dealogic. There have been 154 IPOs raising $36 billion in the first six months of the year, compared to 235 IPOs and $67 billion in the first half of 2000.
Leading the pack with the most IPOs is the healthcare sector, which has seen 55 IPOs raising $4.1 billion, largely stemming from a biotechnology boom. Technology has seen the most volume, with $10 billion raised from 33 offerings.
“We’ve seen a great first half of the year -- especially as we focus the lens on tech IPOs,” David Ethridge, head of the Capital Markets Group at the New York Stock Exchange, said. “Another favorable trend we’ve enjoyed is non-U.S. tech companies going public here -- a positive acknowledgement of the U.S. having the deepest, most reliable capital markets in the world."
The Nasdaq has seen the most IPOs with 93, compared to 57 at the NYSE. But the NYSE had larger offerings, raising $20.7 billion in volume, compared with the Nasdaq’s $15 billion.
Venture-backed IPOs have had a strong turnout with 63 IPOs, compared to 30 in the first half of last year. The last time venture-backed IPOs had a stronger start was in 2000, with 166 deals priced in the first 6 months.
In terms of volume, this has been the best year ever for financial sponsors. Fifty-five private equity-backed IPOs have raised $24 billion so far this year.
IPOs have risen an average of 14% on the first day of trading, a milder “pop” than the average of 17% seen in 2013. Shares rose 13% in 2012 and 10% and 2011.
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