New York Building on momentum carried over from late last year, the U.S. IPO market generated its highest first-quarter volume since 2007, according to new figures from PricewaterhouseCoopers (PwC).

Forty-four IPOs raised $5.8 billion in the quarter, up from 33 IPOs the year before, though average deal size dropped 67 percent to $131 million.

Still, March saw three of the five highest first-day IPO returns since January 2011, which helped the IPO market produce day one returns in the quarter of 16 percent.

“We saw strong first quarter IPO volume and filing activity, which coupled with the increased investor interest in IPOs, bodes well for the year ahead,” said Henri Leveque, leader of PwC’s U.S. Capital Markets and Accounting Advisory Services. “The IPO pipeline remains healthy with a diverse range of companies exploring public launches…  Major IPO activity from some of the larger well-known technology players, including Facebook, will likely lend support to a host of smaller technology companies looking to enter the public markets.”

This article was also published in Potomac Tech Wire.

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PricewaterhouseCoopers press release

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