Renaissance Capital's 3Q 2013 US IPO Review

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After another active quarter, the US IPO market is on track to see record levels of post-tech bubble issuance. There were 60 deals completed in the 3Q13, more than double the 3Q12's 26 IPOs. With an average total return of 27%, driven mostly by well-received consumer, technology and health care deals, IPO performance trounced benchmark indices. Sprouts Farmers Market, Benefitfocus, Foundation Medicine and Rocket Fuel all traded up more than 90% in their debuts. Amid continued investor interest in growth, venture-backed IPO activity accelerated sharply, with 27 offerings, the most in a quarter since the 4Q07 (33 deals). Looking ahead, several large, high-profile companies are lining up to go public in the coming months, including Twitter, Alibaba and Hilton. We caution that the US IPO market remains captive to external events: volatility arising from US budgetary concerns and the debt-ceiling debate could stretch IPO timelines. That said, the recovery that began to take hold earlier this year is showing no signs of subsiding, setting the stage for a breakout year for US IPOs.

View our 3Q 2013 US IPO Review



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

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