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Renaissance Capital's 3Q 2015 Global IPO Review

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Due to heightened market volatility stemming from economic growth concerns in China and uncertainty surrounding an interest rate hike in the United States, the global IPO market slowed dramatically in the third quarter. IPO issuance stagnated as quarterly proceeds plummeted 77% year-over-year to $13.6 billion, the lowest quarterly proceeds level since the 1Q12. Excluding Alibaba's mega IPO in 3Q14, quarterly proceeds were still down 63% year-over-year. IPO proceeds were led by the North American and Asia Pacific regions, which accounted for 37% and 34% of quarterly proceeds, respectively. Chinese issuance came to a standstill from the rapid pace in the first two quarters of 2015 as the country's government suspended domestic offerings in an effort to stabilize equity markets. IPOs generated a modest 3.2% average return. However, aftermarket performance was poor, as measured by the Global IPO Index, which returned -14.9% in the 3Q15. Despite turbulent equity markets, several multi-billion dollar listings still hope to tap equity markets before year-end.

View our 3Q 2015 Global IPO Review

The article Renaissance Capital's 3Q 2015 Global IPO Review originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

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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