NEW YORK--(BUSINESS WIRE)--The New York Stock Exchange (NYSE) remains the premier venue for global capital raising with over $5.1 billion in proceeds from U.S. initial public offerings (IPOs) year-to-date as of July 19, 2016. Activity for IPOs at the NYSE strengthened as the first half of 2016 progressed, particularly in the technology sector.
The IPO market in the second half of 2016 is well under way, with LINE Corporation (NYSE: LN; TSE:3938) raising more than $1.1 billion in its July IPO* followed by AdvancePierre Food Holdings, Inc. (NYSE:APFH) the following day. This recent activity follows four IPOs in a single day in May, including US Foods (NYSE:USFD) which also raised more than $1 billion, as well as the first tech ‘unicorn’ of the year to go public, communications software company Twilio (NYSE:TWLO) in June.
“As market volatility subsided in the second quarter, capital market conditions improved and we are well positioned going into the back half of 2016,” said Tom Farley, NYSE Group President. “We have a great pipeline of companies planning their IPOs across all sectors, from technology to retail, and we look forward to welcoming them to our leading network of innovative companies.”
NYSE remains the venue of choice for technology companies, having led in technology listings since 2012, and is also building on its fourth year of leadership in proceeds raised.
Key highlights of NYSE’s IPO leadership include:
- Sixty percent market share of U.S. IPOs by proceeds raised YTD through July 19, 2016.
- NYSE has listed 22 of the last 22 largest U.S. IPOs in the past two years (since July 1, 2014).
- NYSE has listed 13 of the last 13 $1bn or larger U.S. IPOs in the past two years (since July 1, 2014).
- NYSE has listed six of the last six largest U.S. tech IPOs in the past two years (since July 1, 2014).
“Our unique market model combines human judgment with innovative technology to help ensure a smooth IPO, provides an unmatched visibility platform, and builds confidence with issuers and shareholders alike,” said Garvis Toler, NYSE Global Head of Capital Markets. “The LINE IPO reinforces the NYSE’s position as the premier exchange for high profile, technology listings. LINE’s decision to list on the NYSE highlights the importance of global visibility outside of its region and LINE’s simultaneous listings in New York and Tokyo underscore the fact that such a cross-listing is possible on the NYSE.”
Farley emphasized the value of raising capital through public offerings.
“The number of public companies in the United States is down by half in the last 15 years, so it’s important to get back to basics and address the impediments to going public,” Farley explained. “When so-called ‘unicorns,’ spin-outs or emerging growth companies choose to go public, the NYSE and our highly effective Designated Market Maker model will help serve their capital market needs.”
NYSE leader also in ETPs
NYSE Arca, a fully automated electronic market and leading listing venue for exchange traded products (ETPs), also maintained its leading position, with nearly 81 percent market share of ETP listings and 92 percent of assets under management (AUM).
According to Doug Yones, NYSE Head of ETPs, NYSE Arca continues to be the venue of choice for new ETP issuances.
“We continue to see strong growth opportunities as we deliver product innovation and we’re pleased that our service proposition continues to attract both listings and trading activity,” Yones said. “Year to date, more new ETPs have listed on NYSE Arca than any other exchange.”
Additional first-half ETP highlights include:
- Fifty-six ETPs (over 44 percent of all new listings), with more than $1.3 billion in AUM (nearly 57 percent of all new AUM), listed on NYSE Arca.
For more information on listing on the New York Stock Exchange, visit https://www.nyse.com/the-exchange.
For more information on NYSE’s market quality, visit https://www.nyse.com/markets/nyse/reports/video/market-quality.
For more information on ETPs on NYSE Arca, visit: www.nyse.com/etp.
Editor’s note: For a full list of IPO activity and photography, please click here.
About NYSE Group
NYSE Group is a subsidiary of Intercontinental Exchange (NYSE:ICE), a leading operator of global exchanges and clearing houses, and a provider of data and listings services. NYSE Group includes exchanges, market data and connectivity services. The equity exchanges -- the New York Stock Exchange, NYSE MKT and NYSE Arca -- trade more U.S. equity volume than any other exchange group. NYSE is the premier global venue for capital raising, leading worldwide in IPOs, including technology IPOs. NYSE Arca Options and NYSE Amex Options are leading equity options exchanges.
About Intercontinental Exchange
Intercontinental Exchange (NYSE:ICE) operates the leading network of global futures, equity and equity options exchanges, as well as global clearing and data services across financial and commodity markets. The New York Stock Exchange is the world leader in capital raising, listings and equities trading.
Trademarks of ICE and/or its affiliates include Intercontinental Exchange, ICE, ICE block design, NYSE and New York Stock Exchange, Interactive Data and Trayport. Information regarding additional trademarks and intellectual property rights of Intercontinental Exchange, Inc. and/or its affiliates is located at www.intercontinentalexchange.com/terms-of-use.
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, 2015, as filed with the SEC on February 4, 2016.
* Represents aggregate proceeds raised on NYSE and Tokyo Stock Exchange.
SOURCE: Intercontinental Exchange