Thursday, April 28, 2011

Latest Data on IPO Filings

The above graph shows the count of US Initial Public Offering Filings, per month, according to Rennaissance Capital.  I last talked about IPO statistics here, but this data set is interesting because it reflects filings, rather than actual IPOs, so gives a more up-to-the-minute sense of what's happening.  Note that a significant fraction of IPOs are withdrawn, so the numbers cannot be directly compared to long term graphs like this one of actual IPOs/year since 1970 (left scale):

But still, the general trends obviously correlate.  Anyway, it's interesting that March had more filings than at any time since before the great recession.  We are obviously nowhere near the level of the 1990s but, still, the window is definitely open.  In my opinion, CEO's would be well advised to do whatever gyrations are necessary to squeeze through it before rising oil prices slam it shut.


bordoe said...

This is the IPO of 'Glencore' a major commodities trading firm with extensive operations in Europe.

They decided to do a London/Hong Kong split offering.

10 years ago, 20 years ago, it would have been a US-London offering at best, possibly US only.

But capital has shifted. Regulations in the US have become harder to comply with (even for a firm the size of Glencore) and overseas markets are taking a greater and greater share of new offerings.

It's a trend that's likely to continue as the US makes it more and more difficult to offer securities to people, as if THAT was somehow the cause of TBTFs offering far too easy credit.

Dan said...

where'd you find this data?