Bermuda Public Companies Update – May 2017

We are pleased to present the latest edition of our Bermuda Public Companies Update which features a recap of significant transactions involving Bermuda public companies listed on the NYSE and Nasdaq for the period Q4 2016 through Q1 2017.

IPO activity on the NYSE and Nasdaq in Q4 2016 (33 IPOs) was modestly higher than the same period in 2015 (31 IPOs). Overall, 2016 was a relatively quiet year for IPOs and M&A activity in the US market. There were 111 IPOs in the US last year, down from 174 that launched in 2015. In terms of the number of IPOs and aggregate amount of capital raised, 2016 was the slowest year for deal activity since 2009, when there were only 64 IPOs on the principal US stock exchanges. The trend for Q1 2017 has been a continuation from last year, with Q1 seeing 24 IPOs raising approximately US$11 billion. These results represent the slowest quarter in six years. On the bright side, average deal size of the Q1 2017 IPOs increased 74% over the same