US lull slows global IPO activity in first quarter
29.04.2015Company: EY
Global IPO activity got off to a slow start this year compared with 2014 with 252 IPOs raising US$38.2b in the first quarter, a 4% decrease in volume and 19% drop in proceeds compared to the same period in 2014, according to the quarterly EY Global IPO Trends: 2015 Q1. Compared with the final quarter of 2014, activity was also down 31% by number of deals and 47% by capital raised.
Peter Wells, Head of EY Transaction Advisory Services in the Czech Republic, said:
“After a strong finish to 2014, a dip in the overall level of IPO activity was anticipated. However, a notable feature of the first quarter was the slower pace of IPOs in the US, which was out-performed by both Asia-Pacific and EMEIA in terms of deal numbers and capital raised. Despite this slow start, we are encouraged that valuations have been robust and market fundamentals solid, with most indices coming close to or exceeding levels not seen since 2007. Furthermore, the healthy global IPO pipeline means we expect activity to pick up strongly as the year progresses.”
