- NYSE Leads World in Listing Technology and PE-Backed IPOs -
- Chinese IPOs Build on Last Year’s Strong Activity -
- European Market Increases Small and Medium Enterprises (SME) Listings -
New York, Amsterdam, Brussels, Lisbon, London, Paris, June 30, 2011- NYSE Euronext (NYX) led the global market for listing Initial Public Offerings (IPOs) in the first half of 2011 with $25.40 billion in total capital raised on its European and U.S. markets, more than any exchange group in the world. During the most recent quarter, the New York Stock Exchange (NYSE) led the U.S. IPO market, with 35 IPOs raising $10.63 billion, or 73% of total proceeds raised from IPOs in the U.S. Furthermore, this added to NYSE’s recent gains in listing of technology and VC-backed IPOs as well as private equity funds and enterprises from Argentina, Canada, China, France, Greece, Korea and Netherlands, underscoring the NYSE as the leading listing venue for global IPOs.
“We have seen IPOs coming from every sector, every region of the globe, and all types and sizes of companies including high-growth, technology and VC-backed enterprises,” said Scott Cutler, Co-Head of U.S. Listings and Cash Execution, NYSE Euronext. “It’s a healthy pipeline despite the continuing economic uncertainty. The issuer community is attracted to our global brand, network and technology platform, and looks to us as a true partner in driving value. In the months ahead, we expect to see new listings from quite a broad-based representation of sectors.”
The number of IPOs backed by venture capital and private equity funds listed on the NYSE has significantly increased, including LinkedIn (NYSE: LNKD), Freescale Semiconductor (NYSE: FSL), Bankrate (NYSE: RATE), and Vanguard Health Systems (NYSE: VHS). On May 18, LinkedIn IPO became the biggest Internet IPO since Google Inc.'s debut in 2004.
The NYSE has welcomed 5 transfers from Nasdaq with total market capitalization of $4.01 billion thus far in 2011, and lost none. In addition, SuccessFactors Inc. announced it will transfer its listing from Nasdaq to the NYSE and cross-list on the European markets of NYSE Euronext. This follows the active trend for transfers, with 40 companies transferred to the NYSE from Nasdaq since 2007.
NYSE Captures Increasing Market Share in Listing Technology-Based Companies
NYSE has steadily captured share in attracting technology-based IPOs with its commitment to partner with growth companies. NYSE has listed 17 out of 31, or 55% of the tech IPOs YTD, up from 44% in 2010. LinkedIn, Active Network, Fusion-io and Pandora’s offering came amid a recent fervor for high-profile tech IPOs. Shares of Pandora, the online radio service provider, opened at $20 each, up from an offering price of $16, raising $235 million as the company met the latest wave of interest in Internet-related businesses.
Chinese IPO Momentum Builds on Last Year’s Strong Activity
With a record of 22 Chinese IPOs last year, the NYSE maintains its leading position in attracting Chinese listings this year with 7 Chinese IPOs raising $1,333 million in the first half of 2011. 5 out of the 7 IPOs from China YTD come from the technology sector. Qihoo 360 Technology (NYSE: QIHU), which offers a safe web browser and other Internet security products in China, soared 134% in its trading debut on Mar.29, making it the third best first day gain for a U.S. listed IPO in the last 10 years. Renren Inc (NYSE: RENN), one of the biggest social networking companies in China, became the first social networking service (SNS) company to get listed on the U.S. market on May 4.
Increased Listings of SMEs on NYSE Euronext European Market
During the first 6 months of 2011, NYSE Euronext’s European market continued to welcome small and medium enterprises (SME) listings. Out of 29 new listings, 24 are SMEs from different countries of origin and business sectors, raising €58 million.
“Primary activity is slowly taking off again in Europe, amid difficult market conditions, and investors are still cautious with their investments. Nevertheless, 29 exciting newcomers were introduced to our European market during the first 6 months of 2011, including a good deal flow of SMEs and high profile direct listings, boosting market capitalization by over €19 billion,” said Ronald Kent, Group Executive Vice President and Head of International Listings at NYSE Euronext. “Although uncertainty persists, we see a positive outlook for the rest of the year with many other companies interested in the access to capital and international profile that joining our European market can provide.”
Complementing SMEs, the European market welcomed high-profile listings including two cross-listings, global companies Coca-Cola Enterprises and Hexcel Corporation, as well as two large spin-offs, Aperam (ex- ArcelorMittal, €2.2 bn market cap at listing) and TNT (ex- PostNL, €4.8 bn market cap at listing) and the new listing of Areva representing a market capitalization of €11.5 billion.
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