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2011 YTD IPO Data

I did a bit of research on the US and Chinese IPO markets before my interview with Emily Chang on BloombergTV last week, and thought I would share the data here.  Special thanks to Mike Barker and my friends at investment bank Morgan Keegan for reviewing and fact-checking the data for me.  All data is accurate as of October 24th, 2011.

  1. The value of IPOs increased 14% to $114B in the first half of this year.  However, volume dropped considerably in Q3, with only $27.6B raised, putting us at 8% below last year’s total YTD.
  2. The average US market IPO is down 8% for the year, and 2/3 of listings are below their issue price.  Some are down as much as 60%.  (NOTE: many tech IPOs experienced a strong October, especially towards the end of the month, and the bulk of these companies are also beating analyst estimates handily)
  3. There were 178 IPOs in the US in 2010.  38, or roughly 21% of these, were by Chinese companies.
  4. The Chinese domestic market saw 345 IPOs in 2010, raising $71B.  There have been 232 YTD 2011.
  5. Chinese companies (by nationality, not exchange) have accounted for 31% of global IPO value this year, vs 21% for the US.
  6. As of the beginning of October, there were 166 companies on file in the US.  78 deals have been pulled or delayed YTD.
  7. Pre-Internet bubble (late 90’s), there were on average 300-500 IPOs per year in the US.  Post (2001-2009), we’ve seen on average 125 per year.
  8. VC investment in China hit $3.4B in Q3 2011, a record.  By contrast, US VC investment for the quarter was $8.4B.  1/3 of the VC funding in China went to Internet companies, vs 1/6 in the US.



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