PwC: Public floats booming in the US
First quarter hits seven-year high
The
IPO
market in the US is booming, according to a new report from
PwC.
The firm found stock market flotations during the traditionally quiet first
quarter hit a seven-year high, with 64 deals raising a combined $12.1bn (£6bn).
The firm said the boom was being led by a resurgence in activity from the
financial services sector.
Scott Gehsmann, capital markets partner in PwC’s transaction services group,
said: ‘The financial services and technology sectors were much more active than
in the first quarter last year.” and financial sponsors continued to be a major
factor in the market, backing 40% of all IPOs and raising 55% of proceeds.’
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