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Global IPO market deal value down 15% year-on-year

Having fallen by 70% in 2022 and 30% again last year, the total value of the global IPO market has continued to decline in 2024, despite growing confidence among both issuers and investors, according to data from analytics platform Stocklytics.

The platform’s latest figures show that global IPO activity dropped by 15% year-over-year, with the total value of deals reaching $25.6bn last week.

Most of that decline came from the Canadian market and the usually energetic Asia-Pacific region, with the Canada slumping by 97% year-over-year, and Japanese and Asian IPO activity dropping by 40% and 61% respectively.

Meanwhile, European and US markets showed plenty of IPO activity in the first four months of the year, with US companies raising $7.2bn through listings year-to-date, some 175% more than in the same period a year ago. The European market saw even bigger growth, with the total value of deals surging by 308% year-over-year to $7.4bn.

Although tech companies led the global IPO activity last year, with $8.47bn worth of deals, statistics show the largest IPO activity in 2024 comes from the healthcare sector, with listings worth $6.49bn – five times more than the same period last year – completed.

The tech sector has seen the second-largest IPO activity, with $4.11bn worth of deals in four months, less than half the value reported in the same period a year ago. Retail, transportation and consumer products companies follow, with $2bn, $1.7bn, and $1.6bn worth of deals respectively.

The statistics also show that Morgan Stanley ranks first as an adviser on IPOs this year, with nearly $1.63bn worth of deals year-to-date. Goldman Sachs and City follow with $1.42bn and $1.4bn respectively.

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