Renaissance Capital's 2013 Global IPO Annual Review
Supported by the improvement in equity returns, global IPO
issuance rebounded in 2013. Annual IPO proceeds increased 37.5%
to $137 billion. North America was the largest contributor to the
improvement in IPO issuance as increased activity in the United
States led to a 28.9% gain in proceeds raised in the region.
Europe and Latin America also experienced a jump in IPO proceeds
after being hindered in recent years by sovereign debt concerns
and economic instability while IPO issuance in Asia stagnated due
to the complete shutdown of China's A-Share IPO market. Once
again, financial companies raised more IPO proceeds than any
other sector while the consumer sector had raised its highest
level of annual proceeds since 2006, thanks to offerings by
Japanese soft drink distributor Suntory Beverage & Food
(2587.JP) and global hotel chain Hilton Worldwide (
). Global IPO returns were also impressive in 2013; the average
IPO generated a 19.6% return from their offer price while the
FTSE Renaissance Global IPO Index vastly outperformed global
equity market benchmarks with a 31.7% return. With issuance
accelerating and returns strengthening, we expect to see global
IPO markets continue to gain momentum and grow in 2014.
View our 2013 Global IPO Annual Review.