New York – The U.S. market for initial public offerings
(IPOs) continued its strong momentum during the first quarter, with IPO
proceeds reaching $12.4 billion, the highest Q1 proceeds since 2008, according
to new figures from PricewaterhouseCoopers (PwC).
Excluding Visa’s
record-breaking IPO in 2008, it marked the highest Q1 proceeds since 2000. PwC
said the 194% increase over the prior year was driven by the return of large
financial sponsor-backed offerings.
"This is one of the best first
quarters we’ve seen in years, demonstrating the increasing attractiveness of
the U.S. IPO markets for generating capital and providing liquidity for
financial sponsors," said Henri Leveque, partner and leader of PwC’s
accounting advisory practice.
"Based on the first quarter results and
insights into the deal pipeline, we are optimistic that the momentum will
continue for the remainder of the year and potential issuers will look to capitalize
on the rebounding IPO market."
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