Leading IPO win rate in technology, healthcare, financials and consumer sectors
NEW YORK, July 02, 2019 (GLOBE NEWSWIRE) -- Nasdaq (NDAQ) announced today that in the first half of 2019 it welcomed 97 initial public offerings (IPOs), raising a total of $17.7 billion. With an 80% win rate in the U.S. market, Nasdaq has extended its leadership to 22 consecutive quarters. In addition to the IPOs, seven companies switched from the NYSE to join Nasdaq, including global healthcare leader Sanofi.
As the 2019 wave of IPOs continues, Nasdaq won 88% of venture capital-backed deals including Lyft Inc. (raised $2.34B), Zoom Video Communications, Inc. (raised $751M), CrowdStrike Holdings (raised $612M) and Luckin Coffee (raised $561M). Nasdaq leads the IPO market with several top IPOs by proceeds raised across all sectors in the first half of 2019, notably Tradeweb Markets (raised $1.08B) in the financials, Rattler Midstream LP (raised $665M) in energy and Change Healthcare (raised $558) in healthcare.
Beyond the exceptional quarters in IPOs, Nasdaq also continued supporting issuers through its initiative to revitalize the U.S. capital markets by the following:
- Submitted a letter to the SEC signed by more than 300 public companies urging the SEC to address the proxy process, advocated for the expansion of the ‘Test the Waters’ reform;
- Submitted a comment letter related to the Form 10-Q and quarterly earnings releases to reduce the pressures of disclosure on public companies; and
- In collaboration with Biotechnology Innovation Organization, pushed for short-sale disclosure transparency to protect young biotech companies.
In the first half of 2019, Nasdaq also published Total Markets: A Blueprint for a Better Tomorrow, the company’s initiative that advocates for reforms to improve the market experience for listed companies; launched the Nasdaq Center for Corporate Governance, a global information and research hub that provides leaders and stakeholders with governance insights and actionable intelligence; and released its global environmental, social and governance (ESG) reporting guide for public and private companies.
“Nasdaq had an incredible first half welcoming innovative companies like Lyft through its IPO and Sanofi through its exchange transfer,” said Nelson Griggs, President, Nasdaq Stock Exchange. “Our role as an exchange is to provide our corporate clients with successful access and interaction with the capital markets, and we are proud to support our listed companies throughout every stage of their life cycle.”
2019 FIRST HALF NASDAQ U.S. LISTINGS HIGHLIGHTS
- U.S. listings market leadership: Nasdaq welcomed 97 IPOs, raising $17.7 billion. The total proceeds raised surpassed the amount raised during the same period in 2018, despite a slowdown due to the government shutdown in January.
- Leading U.S. exchange for technology, healthcare, financials and VC-backed IPOs: Nasdaq maintained its strong track record in VC-backed listings, with a win rate of 88 percent. Win rates for healthcare, financials and technology were 97 percent, 78 percent and 55%, respectively.
- Continued momentum in listing transfers: Nasdaq welcomed seven switches from NYSE in the first half of 2019, representing a combined $108.2 billion in market value. The total market value of all companies joining Nasdaq from NYSE since 2005 has exceeded $1.5 trillion.
Nasdaq (NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 100 marketplaces in 50 countries. Nasdaq is home to approximately 4,000 total listings with a market value of approximately $14 trillion. To learn more, visit: http://business.nasdaq.com.
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