Wednesday, December 15, 2010
IPO Market Surpasses 2008, 2009, According to Report
A new report today released by PwC finds that the market for initial public offerings (IPOs) has jumped significantly in 2010, with volumes exceeding both 2008 and 2009 levels. PwC tallied up 154 IPOs completed this year so far, raising $37.5 billion for companies, which is 123 percent increase in volume and a 49 percent increase in volume compared with numbers last year. In particular, PwC said there was a surge in fourth quarter activity, with 55 IPOs completed in the quarter, worth $23.5 billion. PWC said that among the reasons for the surge was a return of private equity and venture capital portfolio companies using the U.S. IPO market to generate liquidity for their investors. PwC did not detail specific IPOs, however, Southern California's technology industry has seen its own share of IPOs this year, including RealD, Inphi, and Green Dot. A number of other companies have filed but have yet to reach the markets, including Peregrine Semiconductor, Demand Media, and Cornerstone OnDemand.