Bermuda Public Companies Update – January 2019

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 of H2 2018.

US IPO MARKET HITS 4-YEAR HIGH, DESPITE Q4 SLUMP

Despite volatility, especially in Q4, the major US stock exchanges had a busy year for IPOs in 2018. The total reached 190, a rise of 19% on 2017 and a 32% increase by proceeds to US$47 billion. Healthcare and technology sectors dominated the US exchanges in 2018 by deal number and proceeds, with ten IPOs raising US$1 billion or more.

2018 as a whole saw M&A deal volume up 25% on 2017, despite a year on year decrease in M&A volume in H2. The US was the fastest growing transaction market, accounting for 44% of all global M&A activity, and deal values soared by 57%. The energy and power sector led the way, followed by technology and healthcare.