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Renaissance Capital's 1Q 2013 Global IPO Review

The global IPO market is off to a fast start in 2013 with a strong increase in proceeds raised and average returns. Despite the lack of issuance in the Asia Pacific region, global IPO proceeds are up 48% year-over-year. The global IPO market saw a large number of sizable IPOs, such as the United States' Zoetis ( ZTS ) and Germany's LEG Immobilien (LEG.GR); a recovery in UK issuance from the successful debuts of several financial firms, such as esure (ESUR.LN) and Crest Nicholson (CRST.LN); and an increase in issuance from historically inactive markets, such as Mexico. IPO returns were exceptionally strong this quarter. Led by outperformance in North America, global IPOs generated a 13% average return. With IPO returns outperforming and equity markets stabilizing, we expect to see a pick-up in issuance for the remainder of 2013.

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


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

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