The New York Stock Exchange, part of the Intercontinental Exchange (ICE) global network of exchanges, remained the global leader in capital raising in the first half of 2014. With $20.7 billion in total proceeds raised from 89 initial public offerings (IPOs), the NYSE is set to outpace 2013 in total IPO proceeds.
“Across the board it has been a strong first half, with notable activity from tech, financial services and energy sectors,” said EVP and Head of Global Listings, Scott Cutler. “Based on the current momentum and pipeline, the IPO market is set to surpass 2013, which was a record year. In addition, our activity from non-U.S. IPOs affirms NYSE as the global center for raising capital and speaks to the strength and stability offered by the U.S. capital markets.”
More than 85% of all U.S. IPOs this year have leveraged the JOBS act – with $20.3 billion raised from JOBS Act IPOs so far this year – a reflection of how the capital markets can support emerging growth companies. The NYSE advocated for the JOBS act and continues to support policy that encourages companies to access the public markets. In addition, the NYSE remains an active participant in the current market structure dialogue aimed at reducing the complexity and fragmentation of the U.S. stock market to ensure confidence in the operation of the markets.
“The ability to access public markets through an IPO process fuels our economy, fosters innovation and drives job creation,” said NYSE President Tom Farley. “As we continue to see an increasing number of companies access capital markets to support their growth objectives, it is essential to global economic growth that a fair, transparent and efficient market structure exists to support companies of all sizes as they list and trade on our markets.”
NYSE First Half of 2014
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.• In the U.S., NYSE Group, which represents NYSE and NYSE MKT combined, raised $20.7 billion in total proceeds from IPOs, accounting for 61% of all proceeds raised from U.S. IPOs • Includes 3 of the 5 largest IPOs: Ally Financial (ALLY), Santander Consumer USA Holdings (SC) and IMS Health Holdings (IMS).
• Includes 3 NYSE MKT IPOs; 12 total new NYSE MKT listings.
• NYSE Group is the leader in follow-on financing with $62.7 billion in proceeds raised as of June 27, 2014, as well as spin-off transactions, accounting for 76% of all spin-offs.
• NYSE continues to lead in transfers and added 4 transfers from other exchanges, representing a total of $7.7 billion in market cap including Deckers Outdoor Corporation (DECK), EnLink Midstream Partners (ENLK) and Banc of California Inc. (BANC).
• Reflective of high quality listings, NYSE Group IPOs YTD have a median return of 11.9%, a median market cap of $703 million and $166 million in median proceeds raised – superior to other exchange listed IPOs.
• Looking ahead, several prominent companies have indicated their intent to list with the NYSE, including Alibaba Group Holding Limited.
Leadership across sectors and geographies
• NYSE led in technology listings with 22 tech IPOs, representing 58% of all U.S. tech IPOs and raising a combined $4.5 billion in proceeds including IMS Health (IMS), Zendesk (ZEN), GrubHub (GRUB), Arista Networks (ANET) and Cheetah Mobile (CMCM).
• 87% of all energy IPOs listed with NYSE, raising a combined $5.5 billion in proceeds.
• Financial services IPOs on the NYSE raised $6.4 billion in proceeds, accounting for 77% of all offerings in that sector.
• NYSE continues to attract non-U.S. IPOs, with 72% more non-U.S. IPOs YTD compared to first half of 2013.
Leadership in Exchange Traded Products
• NYSE Arca led in new exchange traded product (ETP) listings in the first half of 2014; of the more than 100 ETPs that listed in the U.S. in the first half of 2014, nearly 90% listed on NYSE Arca.
• NYSE Arca has over 50 issuers with nearly 1,500 ETPs, representing nearly $1.7 trillion of combined assets under management.
Hear from Tom Farley and Scott Cutler on why the NYSE is the center of global business: goo.gl/BmRLRy
About Intercontinental Exchange
Intercontinental Exchange (ICE) is the leading network of regulated exchanges and clearing houses for financial and commodity markets. ICE delivers transparent, reliable and accessible data, technology and risk management services to markets around the world through its portfolio of exchanges, including the New York Stock Exchange, ICE Futures and Liffe.
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Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995 – Statements in this press release regarding ICE’s business that are not historical facts are “forward-looking statements” that involve risks and uncertainties. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see ICE’s Securities and Exchange Commission (SEC) filings, including, but not limited to, the risk factors in ICE’s Annual Report on Form 10-K for the year ended December 31, 2013, as filed with the SEC on February 14, 2014.