In October 2021, 40 IPOs raised $12.3 billion, joined by 53 SPACs that raised $9.1 billion. Healthcare dominated activity, accounting for 17 of the month’s IPOs, with technology close behind at 12 deals. Leading US semiconductor foundry GlobalFoundries raised $2.6 billion, the third-largest IPO of the year so far. The month’s IPOs averaged a 12% return from offer, with almost two-thirds finishing above issue. IPOs averaged an 8% gain on the first day, the lowest this year, and traded up 3% in the aftermarket. A whopping 64 IPOs submitted initial filings in the biggest October for new filings in over 10 years, and 2021’s busiest month for filings yet. That puts 2021 on track to surpass 400 IPOs, above our previous estimate. 
To read the full article, sign up for a free trial of IPO Pro.
