Audit Analytics’ recent report IPO Trends and Statistics – Evidence the IPO Market is Thawing, examines IPOs listed on U.S. stock exchanges from 2000 through the first quarter of 2018 and explores reasons behind the trends.
Although the IPO market has been slow over the past several years, we are beginning to see signs of increased activity. In the first quarter of 2018, there were 60 initial public offerings, the highest since 2014 and second highest over the last ten years.
The number of IPOs fluctuated between a high of 397 in 2000 and a low of 62 in 2008. During 2017, there were 215 companies introduced through the IPO market.
Key highlights from the report include:
- Unicorns as a percentage of all IPOs
- Slow down in IPO activity mirrors decline in number of public companies
- Proceeds by year (Spotify Technology S.A. [SPOT] proceeds marked the highest amount raised since Q3 2014 and the fifth highest amount raised since 2000)
- The average IPO company raised $123 million in 2000, compared to an average of $224 million in 2017
- Average accounting and legal fees by year
- Top Q1 2018 IPO audit firm had thirteen companies (34% of proceeds), and the top Q1 2018 law firm represented eight companies.
Several factors, including regulatory efforts and improving market conditions, played a role in the thawing IPO market. While our report primarily focuses on years 2000 through the first quarter of 2018, the improved trend continued into Q2 of 2018.
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