3rd Quarter 2008 Global IPO Review
Global IPOs
Global IPO activity slows to a crawl
Global IPO activity plummeted during the third quarter of 2008, further extending the trend from the first half of the year. Faced with unprecedented uncertainty stemming from the spiraling of the credit crisis and slowing global economic growth, investors turned increasingly skeptical of unseasoned stories typical of IPOs. Using a $100 million proceeds floor and excluding special purpose acquisition companies (SPACs) and closed-end funds, the number of global IPOs in the third quarter fell -82% year-over-year to 20, while the amount of proceeds raised declined -89% to $9.3 billion.
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US IPOs
| IPO Summary Stats |
|---|
|
3Q 1999 |
3Q 2000 |
3Q 2001 |
3Q 2002 |
3Q 2003 |
3Q 2004 |
3Q 2005 |
3Q 2006 |
3Q 2007 |
3Q 2008 |
| No. of Deals |
134 |
134 |
12 |
5 |
20 |
56 |
63 |
31 |
45 |
7 |
| Total Proceeds ($bil) |
$17.8 |
$19.1 |
$2.9 |
$4.9 |
$4.9 |
$11.6 |
$9.6 |
$6.3 |
$12.2 |
$1.0 |
| Avg Deal Size ($mil) |
$133 |
$142 |
$241 |
$979 |
$244 |
$207 |
$153 |
$204 |
$271 |
$146 |
Please note: The summary data prior to 2007 do not reflect Renaissance Capital's recent change to include all SPACs with a market cap of $50 million or more in its IPO statistics.