The IPO party continues
IPO markets saw their busiest quarter in two decades—both in terms of quantity of issuances (115) and proceed raised ($40.7 billion). Average IPO returns rose to 40 percent by the end of the quarter, driven by some notable first-day pops. Technology IPOs emerged as the unexpected life of the party. VC and PE were major players with PE hitting an all-time record deal count.
The only notable shift in the dynamics of the IPO story this quarter was in the SPAC representation. Whereas last quarter, SPACs eclipsed regular IPOs three-to-one in terms of deal count and two-to-one in proceeds raised, this quarter saw SPACs retreat into the corner with just 63 offerings raising a combined $12.2 billion.
Read our Q2’21 report to explore:
- IPO activity and increased issuances in the tech and consumer sectors
- Venture capital and private equity activity and proceeds
- Future trends including SPAC activity, the next big thing to capture investor attention, and a Q3 2021 outlook.
“There is still incredible investor appetite for new public issues. And we are seeing a deep pipeline of private companies still preparing to go public over the next few quarters. While there remain a number of risks that could derail the IPO option, both in the near term and the long term, it seems the next few quarters will continue to be extraordinarily active.”
Conor Moore, National Leader, KPMG Private Enterprise
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.
