Mid-Year 2011 IPO Proceeds Exceed $26 Billion, Near 2007 Level

With 93 completed offerings in the first six months of 2011, the IPO market is comfortably ahead of last year’s pace of 70 IPOs through the first half of the year.  Companies have generated more than $26 billion in IPO proceeds through the end of June, compared to $9.8 billion in the same period last year.  Further, 2011’s six-month total exceeds the total for all of 2009 ($24.8 billion) and nearly matches 2008’s yearly total of $28.14 billion.

At its current pace, the 2011 market may approach the aggregate proceeds reached in the 2007 IPO market. In that year, 282 IPOs generated $60.59 billion in proceeds, the highest annual total of any year since 2000. The six-month total in 2007 was $29.28 billion, very close to what this year’s market has achieved so far.

This year the market has already seen five IPOs top $1 billion in proceeds.  Only two offerings surpassed the $1 billion mark in all of 2010, although one was General Motors’ $15.77 billion mega-deal.  The largest IPO in the first half of 2011 was the HCA Holdings’ $3.78 billion offering on March 9th.  Of 2011’s 93 IPOs, 28 were completed by non-U.S. companies, which is close to last year’s pace when 57 issuers incorporated outside the U.S. went public in the U.S. Chinese companies account for more than half (15 of 28) of this year’s deals by foreign issuers. 

The information reported herein was gathered using IPO Vital Signs, a Web-based system that includes all SEC registered IPOs, including REITs and those non-U.S. IPO filers seeking to list in the U.S. markets. IPO Vital Signs does not track closed-end funds, best efforts or non-underwritten deals, or IPO offerings for amounts less than $5 million.