Q3 2020 Highlights
- There were 81 IPOs in Q3 (the highest deal count since 2000). Combined, they raised a total of $28.5 billion (the largest quarter by proceeds in six years).
- Healthcare and biotech IPOs made up the lion’s share of new issuances in the quarter, raising a combined $8 billion in proceeds across 38 offerings.
- Technology stocks – while only accounting for around a quarter of total IPOs – raised $9.7 billion (almost three times the amount raised in the same quarter of 2019).
- First day gains are indicative of ongoing disruption and uncertainty in the markets which is leading bankers to be somewhat conservative in their valuations. But it also reflects the pent up demand for assets with strong growth potential in a post-pandemic world.
- Fintechs, Edtechs, Healthtechs and business services offerings (that can demonstrate a clear path to profitability) will likely garner particular attention.
About the IPO Insights Report Series
The IPO Insights report series delivers the latest information and analysis on quarterly IPO activity and performance to help business leaders take their companies to the next level.