New York – The number of companies registering to go public
surged to near record levels during the second quarter, according to new
figures from Ernst & Young.
All told, 113 companies were in registration
for IPOs during the quarter, up from 80 the prior year. The amount they were
seeking rose 41% to $25.3 billion.
"In 2009, much of the IPO activity came
from large companies and spinoffs, and investors showed interest in these safe,
mature businesses," said Maria Pinelli, Ernst & Young’s Americas
director of strategic growth markets.
"This quarter’s activity represents
a willingness for smaller companies to use the capital markets to stimulate
growth. Meanwhile, the markets are openly returning to their willingness to
invest in risk for potential growth and reward."
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