Blog — 30 Apr, 2024
Equity Issuance Proceeds Increase in Q1; IPO Performance Improves
Through the first quarter of 2024, high interest rates and ongoing geopolitical uncertainty continued to impact equity capital raising activity. Total global proceeds amounted to $119 billion with 1,287 offerings closed in Q1 2024, a 16% increase in value and 1% change in deal volume compared to Q1 2023. Global IPO activity had a slight recovery last quarter, as the average stock performance of Q1 IPOs is above comparable post-IPO figures from 2022 and 2023.
Global IPO activity had a slight recovery in 2024, even with the continued impact of uncertain macroeconomic environment and higher interest rates. The average stock performance of Q1 IPOs is above comparable post-IPO figures from 2022 and 2023.
The top five (5) industries with the highest IPO activity through 2024 year-to-date are Industrials (41 deals), Consumer Discretionary (29 deals), Information Technology (26 deals), Health Care (22 deals) and Financials (13 deals). The Information Technology sector had the highest average one-day performance gain at 68.4% and ended the one-month period at 59.3%.