The 107 initial public offerings priced in the first half of 2017, raised $29.1 billion, a much stronger performance than the first half of 2016, which produced only 57 IPOs and raised only $9.2 billion, according to Bloomberg Terminal data. The number of deals in the first half of 2017 jumped by 88 percent and the dollar amount of funds raised increased by 216 percent compared to the first half of 2016.
The full year data for 2016 shows $26.5 billion was raised from 143 IPOs, meaning that the 2017 IPOs have already outraised 2016’s full year total.
The average deal size in the first half of 2017 was $272 million, up by 69 percent from $161 million in the first half of 2016 and by 41 percent from $193 million in the first half of 2015.
The three largest IPOs of the first half were:
In the first half of 2017, the Consumer, Non-Cyclical sector was the most active with 28 IPOs, but IPOs in the Communications sector raised the most capital ($7.08 billion) due largely to two large IPOs in this sector by Snap Inc. and Altice USA Inc. As in the previous four years, in the first half of 2017, the Financial and Consumer, Non-Cyclical sectors outperformed the other industry sectors by number of IPOs.
In the first half of 2017, the Diversified sector replaced the Technology sector among the top three sectors by number of IPOs (15 IPOs) and generated higher deal value ($5.1 billion) than the other two sectors. The Technology sector delivered 18 IPOs in each of 2015 and 2016, raising $6.3 billion and $1.9 billion, respectively, but was not in the top three sectors, by either number of IPOs or dollar amount raised, in the first half of 2017. The top IPOs by dollar value in each of the three top sectors in the first half of 2017 were:
For more on the latest trends in U.S. IPOs, Bloomberg Law subscribers can access our Quarterly IPO Market Update – U.S.
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