IPO market showing 'positive signs,' NYSE president says
The number of companies taking their businesses public may have declined in the past couple of years, but according to the president of the New York Stock Exchange, that trend is beginning to change in 2018.
“We’re seeing a much better year to date so far,” Stacey Cunningham said on Friday during an interview with FOX Business’ Maria Bartiromo.
After slowing in 2016, the number of IPOs began to gradually increase and stabilized in 2017, Cunningham said. And in 2018, the amount of proceeds raised has already surpassed those in 2017.
“We’re on target to outpace 2014,” she said. “That’s a really positive sign in the IPO market.”
So far this year, there’s been more than 50 deals that have come to market, raising more than $26 billion. But, about 33 percent of those proceeds have been raised outside of the U.S., Cunningham said, largely from China.
“China’s been leading the way on that,” she said. “So we’re still a very welcoming place for China to come raise money in the U.S. I think it’s an area that is closely watched.”