Lack of Unicorns and US tech IPOs dampen Q3 results
Number of global tech IPOs in Q3 2017
Proceeds from global tech IPOs in Q3 2017
Asia portion of Q3 global tech offerings
Number of US tech IPOs in Q3
With 20 tech IPOs and proceeds of US$5.2 billion, the third quarter saw a 31% drop in volume and 15% decrease in proceeds from the prior quarter but an equal number of offerings and only marginally lower proceeds year over year (-3%).
Tech IPOs picked up steam in the latter part of the quarter which suggests a stronger year-end. There were 13 tech IPOs in September, of which 8 were listed in the second half of the month.
Ongoing demand for tech IPOs in China, continuing innovation in South Korea, and contributions from Japan and India led to stronger Asia numbers. A total of 16 IPOs garnered US$1.7 billion.
The European IPO market has shown positive momentum in 2017. The region was a no-show in Q1 but picked up steam in Q2. The third quarter saw the quarter’s biggest IPO with Landis+Gyr Group AG raising US$2.4 billion.
*Issue size greater than US$40 million (includes overallotment) and based on trade date