Wednesday, December 10, 2008

Global I.P.O. Activity Hits 13-Year Low

Ernst & Young has released its Global I.P.O. update and it should come as no surprise that the numbers are dismal.
The total number of global initial public offerings brought to market over the last 11 months was the lowest since 1995, according to the survey.
A total of 745 I.P.O.s worldwide raised $95.3 billion in capital in the first 11 months of 2008, compared with 1,790 I.P.O.s raising $256.9 billion over the same period last year.
So far this year, 298 I.P.O.s have been postponed or withdrawn and I.P.O. activity is at the lowest level recorded over the same 11-month period since 1995, which saw 374 I.P.O.s raise $52.4 billion in capital between 1 January and 30 November, according to data from Dealogic
Full-year figures for 2008 aren’t expected to show any improvement on the bleak performance thus far, the report said. The poor showing is particularly stark when compared with 2007, when a record-breaking 1,979 deals were completed, raising $287.1 billion.
Go to Press Release from Ernst &Young via MarketWatch »

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