2nd Quarter 2009 IPO Review

Although global IPO issuance remained historically low, activity accelerated throughout the second quarter of 2009 as equity markets rallied. Unlike the first quarter of 2009, when only the US and Hong Kong produced IPOs, the second quarter saw signs that IPO issuance is beginning to broaden with IPOs completed in Brazil, Canada, the UK and Poland. Overall, deals performed strongly with a 27% average return. Spin-offs and China-based companies dominated the list of the largest issuers in terms of proceeds raised, while the US markets generated most of the quarter's best IPO performers thanks to a pick up in fundamentally strong growth stories. (more)
Global - Summary IPO Data
1Q 2007 2Q 2007 3Q 2007 4Q 2007 1Q 2008 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009
No. Deals 100 169 113 172 27 67 20 6 2 21
Total Proceeds (billions) $32.1 $83.1 $47.2 $94.3 $34.8 $35.0 $9.3 $1.6 $0.9 $10.0
Average Deal Size (millions) $321.2 $491.7 $418.1 $548.2 $1,289.3 $522.2 $464.4 $268.5 $426.5 $475.0
Global IPOs include all with deal size greater than US$100mm.

US - Summary IPO Data
1Q 2007 2Q 2007 3Q 2007 4Q 2007 1Q 2008 2Q 2008 3Q 2008 4Q 2008 1Q 2009 2Q 2009
No. Deals 59 74 44 95 21 14 7 1 1 13
Total Proceeds (billions) $10.3 $18.2 $12.2 $19.0 $22.2 $4.6 $1.0 $0.1 $0.7 $1.7
Average Deal Size (millions) $173.7 $246.1 $276.7 $200.5 $1,057.6 $329.6 $146.0 $126.0 $720.0 $130.1
US IPOs include US-listed IPOs with initial market capitalization greater than $50mm.




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