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ARTICLE · 27 MARCH 2014

2014 IPO Report

WilmerHale
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Our 2014 IPO Report offers a detailed analysis of, and outlook for, the IPO market.

United StatesCorporate/Commercial Law
David Westenberg
David Westenberg
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US MARKET REVIEW AND OUTLOOK

Review

The IPO market regained its luster in 2013, ending the year with a total of 178 IPOs—a 75% increase from the 102 IPOs in 2012. The 2013 total was 66 higher than the average of 112 IPOs per year that prevailed from 2010 to 2012, and only eight IPOs below the annual average of 186 IPOs recorded between 2004 and 2007. The final three quarters of 2013 each produced 50 or more IPOs—a level of consistently high activity not seen since 2000.

Gross proceeds increased 18%, from $35.11 billion in 2012 to $41.27 billion in 2013— the second-highest tally since 2000, trailing only the $43.33 billion in 2007. The six billion-dollar IPOs in 2013, led by Hilton's $2.35 billion IPO, represented the highest annual number of billion-dollar IPOs since 2004, when there were seven. Other large offerings in 2013 came from Zoetis ($2.24 billion) and Twitter ($1.82 billion).

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