During the first half of 2013, NYSE Euronext markets in the US and Europe raised USD28.5bn in total global proceeds in 72 initial public offerings (IPOs) and exceeded the combined proceeds raised on the next four world markets.
In the US, capital raised from IPOs listed on the New York Stock Exchange (NYSE) was four times more than any other US marketplace, and the NYSE achieved a record 64 per cent of all new technology offerings from 14 listings that accounted for 58 per cent of capital raised in the sector.
Also in the first half of 2013, NYSE Euronext raised USD106bn in follow-on transactions, more than the next six world markets combined. There were a total of USD168bn in announced or completed transfers to its market, including Oracle and Perrigo, two top 100 Nasdaq companies. In Europe, NYSE Euronext added 23 new listings with approximately EUR926m (USD1.2bn) in proceeds from seven IPOs and launched EnterNext, its marketplace for SMEs.
“A relatively stable macroeconomic environment and low volatility resulted in a robust capital market for the first half of 2013,” said Scott Cutler (pictured), excecutive vice president and head of global listings at NYSE Euronext. “The NYSE continued to lead all exchanges globally in capital raising for companies of all sizes and in all sectors. We saw strong deal flow from international issuers looking to the US as a destination for capital raising, and began to see the market develop again on our European venues. We are particularly pleased to have listed a majority of the technology IPOs that came to market, and to have announced the transfer of Oracle to the NYSE. If there was ever a question about our prowess in technology, this should put those questions to rest.”
The 72 newly listed IPOs at USD28.5bn in total global proceeds raised on NYSE Euronext markets during the first half of 2013 is an increase from the 66 IPOs that raised USD17.1bn in total global proceeds during the same period in 2012.
The second quarter of 2013, with 46 IPOs and USD16.4bn in total global proceeds raised, outpaced the first quarter totals of 26 IPOs at USD12.1 bn.
With 262 transactions raising USD106bn in total global proceeds, NYSE Euronext was the global leader in follow-on financings.
Some 41 per cent of global IPO capital has been raised in the US this year, followed by Japan with nine per cent.
In the US, the NYSE raised USD26.3bn in IPOs (including CEFs), more than four times the next largest US exchange.
NYSE attracted 69 per cent of private equity backed IPOs and 74 per cent of total proceeds.
Zoetis and Quintiles were new additions from the healthcare sector, while Taylor Morrison and Boise Cascade highlighted an improving housing and building market.
MLPs and REIT IPOs led to 15 yield oriented offerings that raised USD2.9bn and 80 per cent of all REITs IPOs this year.
Non-US companies listing on the NYSE included EVERTEC from Puerto Rico, China’s Lightinthebox Holding Co, Constellium from the Netherlands, Germany’s Coty, Intelsat SA of Luxembourg, and Luxoft Holding of Switzerland.
NYSE and NYSE MKT listed 14 technology IPOs that raised USD2.1bn in total global proceeds.
Technology company listings included ChannelAdvisor, Cyan, EVERTEC, Gigamon, Intelsat SA, Lightinthebox Holding, Luxoft, Marin Software, Model N, Rally Software Development, Tableau Software, Silver Springs Networks, Textura and Tremor Video.
The four announced or completed market transfers to NYSE and NYSE MKT were Perrigo Company at USD11bn market cap, Thomas Properties Group at USD249m market cap, Ampio Pharmaceuticals at USD221m market cap, and Oracle at USD156.4bn in market cap will transfer its listing the NYSE on July 15.
Oracle will become the largest market transfer ever and the 48th company to move to the NYSE for a combined USD318bn in global market capitalization since 2010.
NYSE Euronext reinforced its leadership in ETP listings by winning 78 per cent of new issues during the first half of 2013. Of the approximately 73 ETPs (ETFs, ETVs and ETNs) that listed in the US this year, 57 were listed by 17 ETP Issuers on NYSE Arca.
Today, total assets under management of the 57 newly listed products has grown to over USD2.8bn adding to the 30 per cent increase in total AUM for all products listed on NYSE Arca of approximately USD1.4trn in June 2013 compared to June 2012.
NYSE Euronext continued to add listings from small and medium enterprises (SMEs), companies with less than EUR1bn (USD1.3bn) in market capitalization, with 16 of the 23 new listings from SMEs for EUR114m (USD150m) in total proceeds.
New listings represented a variety of sectors including healthcare as NYSE Euronext Paris has become the market of choice for Biotech and MedTech as well as consumer goods, technology and telecommunications. Listings included: NEXPONOR, the largest operation on NYSE Alternext since its launch in 2005; Ekinops), a provider of next‐generation optical fibre transport solutions for fixed and mobile high‐speed broadband networks; YMAGIS, a provider of services and digital technologies for the film industry; as well as ERYTECH and SpineGuard from healthcare.