Following a very active 2013, the global IPO market continued its fast pace in the first quarter of 2014. Quarterly proceeds were $34.1 billion, up 77% year-over-year. IPO proceeds in 1Q 2014 were led by the Asia Pacific and Europe regions, which accounted for 41% and 35% of quarterly proceeds, respectively. Asia Pacific’s total was boosted by the return of the China A-share market which raised US$3.3 billion in just one month before shutting down once again due to accounting quality concerns and the impending threat of a Chinese debt crisis. The European markets continued their recovery this quarter as IPOs from a variety of exchanges in the region combined to raise $12 billion with particularly strong activity in London. Despite weak performance from emerging market IPOs, global IPOs generated a 20% average return thanks to the strong performance of China A-Share and U.S. IPOs. With IPOs outperforming in developed markets, we expect to see strong issuance continue for the remainder of 2014.
View our 1Q 2014 Global IPO Quarterly Review
